CHERRY HILL MORTGAGE INVESTMENT CORPORATION (NYSE:CHMI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 12, 2019, the Board of Directors of Cherry Hill Mortgage Investment Corporation (the “Company”) accepted the retirement of Martin Levine as Chief Financial Officer, Treasurer and Secretary of the Company effective on that date.
On June 12, 2019, the Company’s Board of Directors appointed Michael Hutchby, age 41, as the Chief Financial Officer, Treasurer and Secretary of the Company effective on that date.
Mr. Hutchby has served as the Company’s Controller from October 2013 to the present. Prior to joining the Company in 2013, Mr. Hutchby was Vice President, Capital Markets at Freedom Mortgage Corporation (“FMC”), specializing in M&A, corporate development and capital raising. From 2011 to 2012, Mr. Hutchby worked at Sterne, Agee & Leach, where he was an investment banking senior associate in the Financial Institutions Group. From 2009 to 2011, Mr. Hutchby was a Vice President, M&A and Strategic Advisory at Madison Place Partners, Inc.,.an asset management software company specializing in mortgage related risk and servicing products. Prior to that , Mr. Hutchby held various positions at Bank of America Merrill Lynch, and Sungard Energy Systems. Mr. Hutchby has a B.A. in Economics from The Johns Hopkins University and an M.B.A. from the Stern School of Business at New York University.
Mr. Hutchby’s cash compensation is determined and paid by the Company’s external manager, Cherry Hill Mortgage Management, LLC, through its services agreement with FMC. Mr. Hutchby participates in the Company’s 2013 Equity Incentive Plan.
There are no arrangements or understandings between Mr. Hutchby and any other persons in connection with his appointment. There are no family relationships between Mr. Hutchby and any director or executive officer of the Company, and Mr. Hutchby is not a party to any transaction required to be disclosed to Item 404(a) of Regulation S-K.
On June 12, 2019, Cherry Hill Mortgage Investment Corporation, a Maryland corporation (the “Company”), held its annual meeting of security holders. Each of the following five nominees to the board of directors was elected based on the votes for, votes withheld and broker non-votes set forth below after each respective name:
The Company’s security holders approved/disapproved, on a non-binding, advisory vote basis, the compensation of the Company’s named executive officers for the year ended December 31, 2018, based on the following votes for, votes against and abstentions:
The Company’s security holders also chose, on a non-binding advisory vote basis, to hold future non-binding advisory votes on the compensation of the Company’s named executive officers, every year based on the following votes for, votes against and abstentions:
The Company’s security holders also ratified the appointment of Ernst & Young LLP as the Company’s independent public auditors for 2019 based on the following votes for, votes against and:
On June 13, 2019, the Company issued a press release announcing the retirement of Mr. Levine, Chief Financial Officer, Treasurer and Secretary of the Company, and the appointment of Mr. Hutchby, Chief Financial Officer, Treasurer and Secretary of the Company, in each case, effective June 12, 2019. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference into this Item 7.01.