Chimera Investment (CIM) DEF 14A26 Apr 23Definitive proxyFinancial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Dec. 31, 2022
Cover [Abstract]
Document Type	DEF 14A
Entity Registrant Name	Chimera Investment Corporation
Entity Central Index Key	0001409493
Amendment Flag	false

Pay vs Performance Disclosure

Pay vs Performance Disclosure	1 Months Ended	11 Months Ended	12 Months Ended
Pay vs Performance Disclosure	Dec. 31, 2022	Dec. 10, 2022	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Pay vs Performance Disclosure [Table]
Pay vs Performance [Table Text Block]			As required by SEC rules, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning the Company’s variable pay-for-performance philosophy and how the Company’s aligns executive compensation with the Company’s performance, refer to “Executive Compensation – Compensation Discussion and Analysis.” Year Summary Compensation 1 Compensation 2 Average NEOs 3 Average 4 Value of Initial Fixed $100 Net Income 7 ROAE 8 Total 5 Peer Group 6 (a) (b) (c) (d) (e) (f) (g) (h) (i) 2022 9 Marria $7,481,461 Kardis $5,944,178 Marria $4,858,627 Kardis $3,687,845 $4,041,414 $2,587,076 30.56 58.46 $(513,066) 15.0 2021 10 $11,976,596 16,003,134 $6,517,304 $8,035,188 76.04 82.47 $674,519 17.7 2020 11 $9,403,448 5,693,046 $5,370,904 $3,524,918 51.25 74.01 $89,012 30.7
Company Selected Measure Name			ROAE
Named Executive Officers, Footnote [Text Block]			1 Mr. Marria Mr. Kardis Mr. Marria Matthew Lambiase
Peer Group Issuers, Footnote [Text Block]			Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: S&P Industrials.
Adjustment To PEO Compensation, Footnote [Text Block]			2 Year Reported Minus (a) Plus (b) Compensation 2022 Marria $7,481,461 Kardis $5,944,178 Marria $1,478,127 Kardis $1,463,378 Marria $(1,144,708) Kardis $(792,955) Marria $4,858,627 Kardis $3,687,845 2021 $11,976,596 $6,583,196 $10,609,734 $16,003,134 2020 $9,403,448 $2,614,848 $(1,095,554) $5,693,046 (a) The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year. (b) The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on stock or option awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows: Year Year End Year over Fair Value as Year over Fair Value at the Value of Total 2022 Marria $239,811 Kardis $237,418 Marria $(1,369,241) Kardis $(1,006,065) Marria - Kardis - Marria $(15,278) Kardis $(24,309) Marria $12,514,246 Kardis $4,493,436 Marria - Kardis - Marria $(1,144,708) Kardis $(792,955) 2021 $9,677,612 $824,805 - $107,317 $2,816,891 - $10,609,734 2020 $864,779 $(1,481,993) - $(478,340) $6,714,458 - $(1,095,554)
Non-PEO NEO Average Total Compensation Amount			$ 4,041,414	$ 6,517,304	$ 5,370,904
Non-PEO NEO Average Compensation Actually Paid Amount			$ 2,587,076	8,035,188	3,524,918
Adjustment to Non-PEO NEO Compensation Footnote [Text Block]			4 The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” to the NEOs as a group (excluding the relevant PEO for the applicable year), as computed in accordance with SEC rules. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the NEOs as a group (excluding the relevant PEO for the applicable year) during the applicable year. In accordance with SEC rules, the following adjustments were made to average total compensation for the NEOs as a group (excluding the relevant PEO for the applicable year) for each year to determine the compensation actually paid, using the same methodology described above in Note 2: Year Average Minus Plus (a) Average 2022 $4,041,414 $ (954,881) $ (499,458) $2,587,076 2021 $6,517,304 $ (2,510,013) $ 4,027,897 $8,035,188 2020 $5,370,904 $ (1,425,554) $ (420,432) $3,524,918 (a) The amounts deducted or added in calculating the total average equity award adjustments are as follows: Year Average Year over Average Fair Year over Average Fair Average Total 2022 $ 154,920 $ (645,784) - $ (8,594) $ 4,899,589 - $ (499,458) 2021 $ 3,361,188 $ 590,377 - $ 76,332 $ 2,257,294 - $ 4,027,897 2020 $ 471,454 $ (726,946) - $ (164,940) $ 4,031,873 - $ (420,432)
Compensation Actually Paid vs. Total Shareholder Return [Text Block]			Compensation Actually Paid and TSR As demonstrated by the following graph and without taking into account the Nonrecurring Payment made to Mr. Marria in 2021 as discussed above, the amount of compensation actually paid to the relevant PEO for the applicable year and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding the relevant PEO for the applicable year) is aligned with the Company’s TSR over the three years presented in the table.
Compensation Actually Paid vs. Net Income [Text Block]			Compensation Actually Paid and Net Income As demonstrated by the following table and without taking into account the Nonrecurring Payment made to Mr. Marria in 2021 as discussed above, the amount of compensation actually paid to the relevant PEO for the applicable year and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding the relevant PEO for the applicable year) is generally aligned with the Company’s net income over the three years presented in the table. While the Company does not use net income as a performance measure in the overall executive compensation program, the measure of net income is correlated with the measures ROAE and TSR, which the company does use for when setting goals in the Company’s short-term incentive compensation program and the performance-based RSUs that are awarded to the NEOs. As described in more detail in the section “Executive Compensation – Compensation Discussion and Analysis,” the Company targets that approximately 60% of the value of total compensation awarded to the NEOs consists of amounts determined under the Company short-term incentive compensation program.
Compensation Actually Paid vs. Company Selected Measure [Text Block]			Compensation Actually Paid and ROAE As demonstrated by the following graph, the amount of compensation actually paid to our former CEO Mr. Marria for 2021 included a one-time promotion grant of 500,000 RSUs, representing 50.3% of compensation actually paid to Mr. Marria for 2021, which was nonrecurring (the “Nonrecurring Payment”). Without taking into account such Nonrecurring Payment, the amount of compensation actually paid to the relevant PEO for the applicable year and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding the relevant PEO for the applicable year) is aligned with the Company’s ROAE over the three years presented in the table. The alignment of compensation actually paid with the Company’s ROAE over the period presented is because over 60% of actual compensation paid to the NEOs is based on the Company’s ROAE relative to its peer group.
Tabular List [Table Text Block]			Financial Performance Measures As described in greater detail in “Executive Compensation – Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable pay-for-performance philosophy. The metrics that the Company uses for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our NEOs to increase the value of our enterprise for our stockholders. For the most recently completed fiscal year, the most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s NEOs, to the Company’s performance are as follows: · ROAE · Relative TER
Total Shareholder Return Amount			$ 30.56	76.04	51.25
Peer Group Total Shareholder Return Amount			58.46	82.47	74.01
Net Income (Loss)			$ (513,066,000)	$ 674,519,000	$ 89,012,000
Company Selected Measure Amount			0.150	0.177	0.307
Additional 402(v) Disclosure [Text Block]			Analysis of the Information Presented in the Pay versus Performance Table As described in more detail in the section “Executive Compensation – Compensation Discussion and Analysis,” the Company’s executive compensation program reflects a variable pay-for-performance philosophy. While the Company utilizes several performance measures to align executive compensation with Company performance, not all of those Company measures are presented in the Pay versus Performance table. Moreover, the Company generally seeks to incentivize long-term performance, and therefore does not specifically align the Company’s performance measures with compensation that is actually paid (as computed in accordance with Item 402(v) of Regulation S-K) for a particular year. In accordance with Item 402(v) of Regulation S-K, the Company is providing the following descriptions of the relationships between information presented in the Pay versus Performance table.
Measure [Axis]: 2
Pay vs Performance Disclosure [Table]
Measure Name			Relative TER
Non-GAAP Measure Description [Text Block]			These are the same amounts as used for the ROAE
Non-PEO NEO [Member] \| Minus Value Of Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			$ (954,881)	$ (2,510,013)	$ (1,425,554)
Non-PEO NEO [Member] \| Fair Value Of Equity Awards Granted Unvested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			154,920	3,361,188	471,454
Non-PEO NEO [Member] \| Fair Value Of Outstanding Unvested Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(645,784)	590,377	(726,946)
Non-PEO NEO [Member] \| Fair Value As Of Vesting Date Of Equity Awards Granted And Vested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Non-PEO NEO [Member] \| Change In Fair Value Of Equity Awards Granted [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(8,594)	76,332	(164,940)
Non-PEO NEO [Member] \| Fair Value Equity Awards That Failed To Meet Vesting [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			4,899,589	2,257,294	4,031,873
Non-PEO NEO [Member] \| Value Of Dividends Or Other Earnings Paid On Stock Or Option Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Non-PEO NEO [Member] \| Equity Award Adjustments [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(499,458)	4,027,897	(420,432)
Marria [Member]
Pay vs Performance Disclosure [Table]
PEO Total Compensation Amount			7,481,461	11,976,596
PEO Actually Paid Compensation Amount			4,858,627	$ 16,003,134
PEO Name		Mr. Marria		Mr. Marria
Marria [Member] \| PEO [Member] \| Minus Value Of Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			1,478,127	$ 6,583,196
Marria [Member] \| PEO [Member] \| Plus Equity Award Adjustments [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(1,144,708)	10,609,734
Marria [Member] \| PEO [Member] \| Fair Value Of Equity Awards Granted Unvested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			239,811	9,677,612
Marria [Member] \| PEO [Member] \| Fair Value Of Outstanding Unvested Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(1,369,241)	824,805
Marria [Member] \| PEO [Member] \| Fair Value As Of Vesting Date Of Equity Awards Granted And Vested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Marria [Member] \| PEO [Member] \| Change In Fair Value Of Equity Awards Granted [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(15,278)	107,317
Marria [Member] \| PEO [Member] \| Fair Value Equity Awards That Failed To Meet Vesting [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			12,514,246	2,816,891
Marria [Member] \| PEO [Member] \| Value Of Dividends Or Other Earnings Paid On Stock Or Option Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Kardis [Member]
Pay vs Performance Disclosure [Table]
PEO Total Compensation Amount			5,944,178
PEO Actually Paid Compensation Amount			3,687,845
PEO Name	Mr. Kardis
Kardis [Member] \| PEO [Member] \| Minus Value Of Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			1,463,378
Kardis [Member] \| PEO [Member] \| Plus Equity Award Adjustments [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(792,955)
Kardis [Member] \| PEO [Member] \| Fair Value Of Equity Awards Granted Unvested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			237,418
Kardis [Member] \| PEO [Member] \| Fair Value Of Outstanding Unvested Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(1,006,065)
Kardis [Member] \| PEO [Member] \| Fair Value As Of Vesting Date Of Equity Awards Granted And Vested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Kardis [Member] \| PEO [Member] \| Change In Fair Value Of Equity Awards Granted [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			(24,309)
Kardis [Member] \| PEO [Member] \| Fair Value Equity Awards That Failed To Meet Vesting [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount			4,493,436
Kardis [Member] \| PEO [Member] \| Value Of Dividends Or Other Earnings Paid On Stock Or Option Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Matthew Lambiase [Member]
Pay vs Performance Disclosure [Table]
PEO Total Compensation Amount					9,403,448
PEO Actually Paid Compensation Amount					$ 5,693,046
PEO Name					Matthew Lambiase
Matthew Lambiase [Member] \| PEO [Member] \| Minus Value Of Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount					$ 2,614,848
Matthew Lambiase [Member] \| PEO [Member] \| Plus Equity Award Adjustments [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount					(1,095,554)
Matthew Lambiase [Member] \| PEO [Member] \| Fair Value Of Equity Awards Granted Unvested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount					864,779
Matthew Lambiase [Member] \| PEO [Member] \| Fair Value Of Outstanding Unvested Equity Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount					(1,481,993)
Matthew Lambiase [Member] \| PEO [Member] \| Fair Value As Of Vesting Date Of Equity Awards Granted And Vested [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount
Matthew Lambiase [Member] \| PEO [Member] \| Change In Fair Value Of Equity Awards Granted [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount					(478,340)
Matthew Lambiase [Member] \| PEO [Member] \| Fair Value Equity Awards That Failed To Meet Vesting [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount					6,714,458
Matthew Lambiase [Member] \| PEO [Member] \| Value Of Dividends Or Other Earnings Paid On Stock Or Option Awards [Member]
Pay vs Performance Disclosure [Table]
Adjustment to Compensation Amount