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SEC Filings

10-K
AGNC INVESTMENT CORP. filed this Form 10-K on 02/26/2018
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The following table summarizes time-based RSU transactions under our 2016 Equity Plan for fiscal years 2017 and 2016.
2016 Equity Incentive Plan
 
Time-Based RSUs
 
Weighted Average Grant Date Fair Value 1
 
Weighted Average Vest Date Fair Value
Unvested balance as of December 31, 2015
 

 
$

 
$

Granted
 
101,407

 
$
17.89

 
$

Accrued RSU dividend equivalents
 
968

 
$

 
$

Unvested balance as of December 31, 2016
 
102,375

 
$
17.72

 
$

Granted
 
238,203

 
$
19.52

 
$

Accrued RSU dividend equivalents
 
32,498

 
$

 
$

Vested
 
(37,602
)
 
$
16.08

 
$
20.42

Forfeitures
 
(246
)
 
$
18.29

 
$

Unvested balance as of December 31, 2017
 
335,228

 
$
17.46

 
$

________________________________
1.
Accrued RSU dividend equivalents have a weighted average grant date fair value of $0.
The following table summarizes restricted stock and RSU transactions under the Director Plan for fiscal years 2017, 2016 and 2015:
Director Plan
 
Shares of Restricted Stock
 
Time-Based RSUs
 
Weighted Average Grant Date Fair Value 1
 
Weighted Average Vest Date Fair Value
Unvested balance as of December 31, 2014 2
 
14,000
 
18,239

 
$
25.11

 
$

Granted
 

 
28,880

 
$
21.64

 
$

Accrued RSU dividend equivalents
 

 
3,319

 
$

 
$

Vested
 
(9,000
)
 
(19,007
)
 
$
23.17

 
$
21.03

Unvested balance as of December 31, 2015
 
5,000
 
31,431

 
$
21.44

 
$

Granted
 

 
33,015

 
$
18.93

 
$

Accrued RSU dividend equivalents
 

 
3,527

 
$

 
$

Vested
 
(5,000
)
 
(46,538
)
 
$
20.00

 
$
18.99

Unvested balance as of December 31, 2016
 

 
21,435

 
$
17.49

 
$

Accrued RSU dividend equivalents
 

 
1,032

 
$

 
$

Vested
 

 
(22,467
)
 
$
16.69

 
$
20.15

Unvested balance as of December 31, 2017
 

 

 
$

 
$

________________________________
1.
Accrued RSU dividend equivalents have a weighted average grant date fair value of $0.
2.
Consist of restricted stock awards granted to independent directors prior to fiscal year 2015, which had a grant date fair value equal to the closing price of our common stock on the grant date and vested annually over three years.
During fiscal year 2017, we granted performance-based RSU awards to employees under our 2016 Equity Plan, which vest at the end of a three-year period provided that specified performance criteria are met. The performance criteria are based on a formula tied to our achievement of long-term economic returns consisting of the change in tangible net book value and dividends paid per common share on an absolute basis and relative to a select group of our peers. The fair value of the performance-based RSU awards as of the grant date was $5 million assuming the target levels of performance is achieved, but the actual value will vary within a range of 0% to 200% of target based on actual performance achieved relative to the targets. The following table summarizes performance-based RSU awards under our 2016 Equity Plan for fiscal year 2017. No performance-based awards were issued during fiscal year 2016.

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