Pay vs Performance Disclosure - USD ($) | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pay vs Performance Disclosure | | | | |
Pay vs Performance Disclosure, Table | Pay Versus Performance Compensation paid to Great Ajax’s Chief Executive Officer and other named executives were calculated based on shares granted each year using the grant date stock price and adjusted for any previously issued shares that were unvested and fully vested each year and considered any dividends that have been paid. The following table summarizes the compensation paid to Great Ajax’s Chief Executive Officer and other named executives and company performance measures. Summary (1) ($) Compensation (1)(4) ($) Average summary (2) ($) Average (1)(5) ($) Value of initial fixed $100 Net (loss)/ income Company Year Total Peer group (3) ($) 2023 — (21,891 ) — (8,975 ) 100 49 (49,261 ) 9.99 2022 167,360 61,758 52,300 (5,553 ) 109 48 (14,850 ) 13.00 2021 179,060 226,653 102,320 140,977 143 73 41,775 15.92 2020 38,200 (6,345 ) 76,400 77,247 118 69 33,608 15.59 (1) Lawrence Mendelsohn, Great Ajax’s CEO, was Great Ajax’s principal executive officer. (2) Includes compensation for Ms. Doyle and Mr. Schaub. (3) Great Ajax’s peer group includes FNMR, which includes comparable mortgage REITs and helps provide a benchmark for Great Ajax’s own total stockholder return. (4) In accordance with the requirements of Item 402(v)(2)(iii) of Regulation S-K, the following adjustments were made to the amounts reported for Mr. Mendelsohn in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Mendelsohn during the applicable year. Description (a) 2020 2021 2022 2023 Reported Summary Compensation Table 38,200 179,060 167,360 — Reported Stock Awards Deduction (b) 38,200 179,060 167,360 — Equity Award Adjustments (c) (44,545 ) 47,593 (105,602 ) (21,891 ) Compensation Actually Paid (6,345 ) 226,653 61,758 (21,891 ) (a) Mr. Mendelsohn received no pension benefits in the fiscal years presented from Great Ajax under defined pension or defined contribution plans. (b) Total grant date fair value of equity awards reporting in the “Stock awards” column in the Summary Compensation Table for applicable year. (c) For each covered year, the amounts added or deducted in calculated equity award adjustments include: Year Summary Year End Year over Fair Value Year over Fair Value Value of Total Equity 2023 — — (36,156 ) — (840 ) — 15,105 (21,891 ) 2022 (167,360 ) 116,000 (69,935 ) — (9,567 ) — 25,260 (105,602 ) 2021 (179,060 ) 184,240 19,800 — 9,413 — 13,200 47,593 2020 (38,200 ) 41,840 (52,200 ) 23,280 (35,077 ) — 15,812 (44,545 ) (5) In accordance with the requirements of Item 402(v)(2)(iii) of Regulation S-K, when calculating the “average compensation actually paid” for the executive officers excluding CEO, the following adjustments were made to the amounts reported in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual amount of compensation earned by or paid to Ms. Doyle and Mr. Schaub during the applicable year. Description (a) 2020 2021 2022 2023 Reported Summary Compensation Table 76,400 102,320 52,300 — Reported Stock Awards Deduction (b) 76,400 102,320 52,300 — Equity Award Adjustments (c) 847 38,657 (57,853 ) (8,975 ) Compensation Actually Paid 77,247 140,977 (5,553 ) (8,975 ) (a) Ms. Doyle and Mr. Schaub received no pension benefits in the fiscal years presented from Great Ajax under defined pension or defined contribution plans. (b) Total grant date fair value of equity awards reporting in the “Stock awards” column in the Summary Compensation Table for applicable year. (c) For each covered year, the amounts added or deducted in calculated equity award adjustment include: Year Summary Year End Year over Fair Year over Fair Value at Value of Total Equity 2023 — — (15,275 ) — (1,680 ) — 7.980 (8,975 ) 2022 (52,300 ) 36,250 (51,220 ) — (4,783 ) — 14,200 (57,853 ) 2021 (102,320 ) 105,280 20,700 — 4,707 — 10,290 38,657 2020 (76,400 ) 83,680 (26,100 ) 18,224 (8,253 ) — 9,696 847 | | | |
Company Selected Measure Name | book value | | | |
Named Executive Officers, Footnote | (1) Lawrence Mendelsohn, Great Ajax’s CEO, was Great Ajax’s principal executive officer. (2) Includes compensation for Ms. Doyle and Mr. Schaub. | | | |
Peer Group Issuers, Footnote | (3) Great Ajax’s peer group includes FNMR, which includes comparable mortgage REITs and helps provide a benchmark for Great Ajax’s own total stockholder return. | | | |
PEO Total Compensation Amount | | $ 167,360 | $ 179,060 | $ 38,200 |
PEO Actually Paid Compensation Amount | $ (21,891) | 61,758 | 226,653 | (6,345) |
Adjustment To PEO Compensation, Footnote | (4) In accordance with the requirements of Item 402(v)(2)(iii) of Regulation S-K, the following adjustments were made to the amounts reported for Mr. Mendelsohn in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual amount of compensation earned by or paid to Mr. Mendelsohn during the applicable year. Description (a) 2020 2021 2022 2023 Reported Summary Compensation Table 38,200 179,060 167,360 — Reported Stock Awards Deduction (b) 38,200 179,060 167,360 — Equity Award Adjustments (c) (44,545 ) 47,593 (105,602 ) (21,891 ) Compensation Actually Paid (6,345 ) 226,653 61,758 (21,891 ) (a) Mr. Mendelsohn received no pension benefits in the fiscal years presented from Great Ajax under defined pension or defined contribution plans. (b) Total grant date fair value of equity awards reporting in the “Stock awards” column in the Summary Compensation Table for applicable year. (c) For each covered year, the amounts added or deducted in calculated equity award adjustments include: Year Summary Year End Year over Fair Value Year over Fair Value Value of Total Equity 2023 — — (36,156 ) — (840 ) — 15,105 (21,891 ) 2022 (167,360 ) 116,000 (69,935 ) — (9,567 ) — 25,260 (105,602 ) 2021 (179,060 ) 184,240 19,800 — 9,413 — 13,200 47,593 2020 (38,200 ) 41,840 (52,200 ) 23,280 (35,077 ) — 15,812 (44,545 ) | | | |
Non-PEO NEO Average Total Compensation Amount | | 52,300 | 102,320 | 76,400 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ (8,975) | (5,553) | 140,977 | 77,247 |
Adjustment to Non-PEO NEO Compensation Footnote | (5) In accordance with the requirements of Item 402(v)(2)(iii) of Regulation S-K, when calculating the “average compensation actually paid” for the executive officers excluding CEO, the following adjustments were made to the amounts reported in the Summary Compensation Table. Importantly, the dollar amounts do not reflect the actual amount of compensation earned by or paid to Ms. Doyle and Mr. Schaub during the applicable year. Description (a) 2020 2021 2022 2023 Reported Summary Compensation Table 76,400 102,320 52,300 — Reported Stock Awards Deduction (b) 76,400 102,320 52,300 — Equity Award Adjustments (c) 847 38,657 (57,853 ) (8,975 ) Compensation Actually Paid 77,247 140,977 (5,553 ) (8,975 ) (a) Ms. Doyle and Mr. Schaub received no pension benefits in the fiscal years presented from Great Ajax under defined pension or defined contribution plans. (b) Total grant date fair value of equity awards reporting in the “Stock awards” column in the Summary Compensation Table for applicable year. (c) For each covered year, the amounts added or deducted in calculated equity award adjustment include: Year Summary Year End Year over Fair Year over Fair Value at Value of Total Equity 2023 — — (15,275 ) — (1,680 ) — 7.980 (8,975 ) 2022 (52,300 ) 36,250 (51,220 ) — (4,783 ) — 14,200 (57,853 ) 2021 (102,320 ) 105,280 20,700 — 4,707 — 10,290 38,657 2020 (76,400 ) 83,680 (26,100 ) 18,224 (8,253 ) — 9,696 847 | | | |
Compensation Actually Paid vs. Total Shareholder Return | Total Stockholder Return Compensation actually paid to Great Ajax’s CEO for the years ended December 31, 2023, 2022, 2021 and 2020 was $(22) thousand, $0.1 million, $0.2 million and $(6) thousand, respectively. Compensation actually paid to executive officers excluding the CEO for the years ended December 31, 2023, 2022, 2021 and 2020 was approximately $(9) thousand, $(6) thousand, $0.1 million and $77 thousand, respectively. The calculation to determine compensation actually paid to Great Ajax’s CEO and executive officers is detailed above and is calculated in accordance with item 402(v)(2)(iii) of Regulation S-K. Great Ajax’s cumulative total stockholder return (“TSR”), which is calculated off an initial fixed $100 investment for the last three completed fiscal years was $100.21, $108.64, $143.29 and $118.21, respectively. The Compensation Comparison Group (“CCG”) TSR, which is calculated off the same initial fixed $100 investment for the same four-year period was $48.61, $47.74, $73.00 and $68.64, respectively. Great Ajax used FNMR for its CCG TSR, which contains comparable mortgage REITs and helps provide a benchmark for Great Ajax’s own total stockholder return. Compensation actually paid to Great Ajax’s CEO, Great Ajax’s TSR and CCG TSR all decreased for the year ended December 31, 2023 versus 2022 and for the year ended December 31, 2022 versus 2021. In comparison compensation actually paid to Great Ajax’s CEO, Great Ajax’s TSR and CCG TSR all increased for the year ended December 31, 2021 versus 2020. Similarly, compensation actually paid to Great Ajax’s executive officers excluding the CEO, Great Ajax’s TSR and CCG TSR all decreased for the year ended December 31, 2023 versus 2022 and for the year ended December 31, 2022 versus 2021. In comparison compensation actually paid to Great Ajax’s executive officers excluding the CEO, Great Ajax’s TSR and CCG TSR all increased for the year ended December 31, 2021 versus 2020. | | | |
Compensation Actually Paid vs. Net Income | Net Income Great Ajax had consolidated net losses for the years ended December 31, 2023 and 2022 of $(47) thousand and $(15) thousand, respectively, and consolidated net income attributable to common stockholders of $42 thousand and $34 thousand for the years ended 2021 and 2020, respectively. The compensation actually paid to Great Ajax’s CEO and Great Ajax’s consolidated net loss/income decreased for the years ended December 31, 2023, 2022 and 2021. Great Ajax’s consolidated net income attributable to common stockholders increased for the year ended December 31, 2021 vs 2020. Similarly, this was the same trend for compensation actually paid to Great Ajax’s executive officers excluding the CEO and Great Ajax’s consolidated net loss/income attributable to common stockholders for the same comparative years. | | | |
Compensation Actually Paid vs. Company Selected Measure | Company-Selected Measure: Book Value Great Ajax’s book value was $9.99, $13.00, $15.92 and $15.59 as of December 31, 2023, 2022, 2021 and 2020, respectively. The compensation actually paid to Great Ajax’s CEO and Great Ajax’s book value decreased for the years ended December 31, 2023, 2022 and 2021. Great Ajax’s book value increased for the year ended December 31, 2021 vs 2020. Similarly, this was the same trend for compensation actually paid to Great Ajax’s executive officers excluding the CEO and Great Ajax’s book value for the same comparative years. | | | |
Tabular List, Table | Tabular List of Financial Performance Measures We have identified the following performance measures, which the Compensation Committee considered, among others, when making executive compensation decisions for performance year 2023, in response to the Tabular List disclosure requirement pursuant to Item 402(v)(6) of Regulation S-K. Book Value Distributable Earnings Annual Economic Return Relative to the Agency REIT Peer Group | | | |
Total Shareholder Return Amount | $ 100 | 109 | 143 | 118 |
Peer Group Total Shareholder Return Amount | 49 | 48 | 73 | 69 |
Net Income (Loss) | $ (49,261) | $ (14,850) | $ 41,775 | $ 33,608 |
Company Selected Measure Amount | 9.99 | 13 | 15.92 | 15.59 |
PEO Name | Lawrence Mendelsohn | | | |
Measure:: 1 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Book Value | | | |
Measure:: 2 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Distributable Earnings | | | |
Measure:: 3 | | | | |
Pay vs Performance Disclosure | | | | |
Name | Annual Economic Return Relative to the Agency REIT Peer Group | | | |
PEO | Total Equity Awards Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ (21,891) | $ (105,602) | $ 47,593 | $ (44,545) |
PEO | Stock Awards Value In Summary Compensation Table (Grant Date Value) | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | (167,360) | (179,060) | (38,200) |
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | 116,000 | 184,240 | 41,840 |
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (36,156) | (69,935) | 19,800 | (52,200) |
PEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | 23,280 |
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (840) | (9,567) | 9,413 | (35,077) |
PEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | |
PEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | 15,105 | 25,260 | 13,200 | 15,812 |
Non-PEO NEO | Total Equity Awards Adjustments [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (8,975) | (57,853) | 38,657 | 847 |
Non-PEO NEO | Stock Awards Value In Summary Compensation Table (Grant Date Value) | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | (52,300) | (102,320) | (76,400) |
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | 36,250 | 105,280 | 83,680 |
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (15,275) | (51,220) | 20,700 | (26,100) |
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | 18,224 |
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | (1,680) | (4,783) | 4,707 | (8,253) |
Non-PEO NEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | | | | |
Non-PEO NEO | Dividends Or Other Earnings Paid On Equity Awards Not Otherwise Reflected In Fair Value [Member] | | | | |
Pay vs Performance Disclosure | | | | |
Adjustment to Compensation, Amount | $ 7.98 | $ 14,200 | $ 10,290 | $ 9,696 |