CHMI Sets December 2 Vote on MITT Merger; Proxy Reveals $7.99M Termination Fee and Golden Parachutes
CHMI sits 20% above its 52-week low of $2.17.
Summary
Cherry Hill Mortgage's definitive proxy sets December 2, 2026 for stockholder votes on the MITT merger, disclosing termination fees, golden parachute compensation, and pro forma financials for the combined company.
Key Events · M&A and Partnerships · CHMI
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December 2 Vote Scheduled
Both MITT and CHMI special meetings set for December 2, 2026, with record date October 2, 2026. CHMI stockholders vote on the merger proposal, compensation proposal, and adjournment proposal.
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Termination Fees Disclosed
MITT pays $7,990,000 and CHMI pays $4,700,000 if either terminates to pursue a superior proposal or changes its board recommendation. Termination date is March 9, 2027, with 60-day extension for regulatory approvals.
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Golden Parachute Compensation
CHMI CEO Jeffrey Lown could receive $4,956,759 total (cash severance, equity acceleration, dividend equivalents) upon a qualifying termination following the merger. CIO Julian Evans: $2,370,521; General Counsel Susan Healey: $1,406,746.
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Pro Forma Combined Financials
Combined company expected to have $740 million total stockholders' equity ($422M common, $318M preferred) and $259 million common equity market cap based on MITT's $5.97 closing price on September 29, 2026.
Analysis · CHMI · Real Estate & Construction
This definitive proxy statement advances the previously announced MITT acquisition of Cherry Hill Mortgage from agreement to actionable vote. Stockholders of both companies will vote on December 2, 2026, with the record date already set for October 2. The filing discloses material new terms: a $7.99 million termination fee payable by MITT and $4.7 million by CHMI under certain circumstances, a March 9, 2027 termination date with a 60-day extension for regulatory approvals, and golden parachute compensation totaling $4.96 million for CHMI's CEO alone. The pro forma combined company shows $740 million in stockholders' equity and a $259 million common equity market cap. For CHMI stockholders, the deal remains fixed at 0.3063 MITT shares plus $0.93 cash per share, but the implied value has declined from $3.10 at announcement to $2.76 as of September 29, 2026, reflecting MITT's stock price drop from $7.09 to $5.97. The two CHMI board seats on the combined company's eight-member board provide some governance continuity, but the external management structure under MITT Manager remains a key consideration for CHMI holders evaluating the exchange.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 36.3% of the 1065 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CHMI was trading at $2.61 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $96.4M. The 52-week trading range was $2.17 to $2.98. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.