AGNC: Director Morris Davis resigns; Board shrinks to eight, Kuehl agreement revised
AGNC director Morris A. Davis resigned effective immediately and will not stand for re-election, citing his appointment to the White House Council of Economic Advisers, and the Board reduced its size from nine to eight members effective March 17, 2025. The company also amended the employment agreement of Christopher J. Kuehl, its Head of Investment Research and Strategy, setting a target annual bonus of at least $1,350,000 and a long-term incentive award of at least $675,000, and reducing his severance multiple from 1.5x to 1.0x.
Key points
- Morris A. Davis resigned from the Board on March 16, 2025; he will not stand for re-election at the April 17, 2025 annual meeting
- Board size reduced from nine to eight members effective March 17, 2025
- Christopher J. Kuehl's target annual cash bonus is at least $1,350,000 for 2025 and later years
- Severance for Kuehl reduced from 1.5x to 1.0x base salary and target bonus on termination without cause or for good reason
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 20, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.