Document/ExhibitDescriptionPagesSize
1: 10-K Annual Report HTML 2.50M
2: EX-10.8 Material Contract HTML 147K
3: EX-21.1 Subsidiaries List HTML 25K
4: EX-23.1 Consent of Expert or Counsel HTML 26K
9: EX-97 Clawback Policy re: Recovery of Erroneously HTML 35K Awarded Compensation
5: EX-31.1 Certification -- §302 - SOA'02 HTML 31K
6: EX-31.2 Certification -- §302 - SOA'02 HTML 32K
7: EX-32.1 Certification -- §906 - SOA'02 HTML 29K
8: EX-32.2 Certification -- §906 - SOA'02 HTML 29K
15: R1 Cover HTML 95K
16: R2 Audit Information HTML 32K
17: R3 Consolidated Balance Sheets HTML 123K
18: R4 Consolidated Balance Sheets (Parenthetical) HTML 50K
19: R5 Consolidated Statements of Operations HTML 100K
20: R6 Consolidated Statements of Operations HTML 28K
(Parenthetical)
21: R7 Consolidated Statements of Comprehensive Income HTML 50K
22: R8 Consolidated Statements of Shareholders' Equity HTML 76K
23: R9 Consolidated Statements of Shareholders' Equity HTML 30K
(Parenthetical)
24: R10 Consolidated Statements of Cash Flows HTML 139K
25: R11 Organization HTML 33K
26: R12 Significant Accounting Policies HTML 70K
27: R13 Loans Held for Investment at Fair Value HTML 115K
28: R14 Loans Held for Investment at Carrying Value HTML 136K
29: R15 Loan Receivable Held at Carrying Value HTML 49K
30: R16 Current Expected Credit Losses HTML 82K
31: R17 Interest Receivable HTML 35K
32: R18 Interest Reserve HTML 36K
33: R19 Debt HTML 79K
34: R20 Commitments and Contingencies HTML 40K
35: R21 Shareholders' Equity HTML 90K
36: R22 Earnings Per Share HTML 43K
37: R23 Income Tax HTML 42K
38: R24 Fair Value HTML 89K
39: R25 Related Party Transactions HTML 64K
40: R26 Dividends and Distributions HTML 66K
41: R27 Subsequent Events HTML 41K
42: R28 Pay vs Performance Disclosure HTML 39K
43: R29 Insider Trading Arrangements HTML 33K
44: R30 Significant Accounting Policies (Policies) HTML 113K
45: R31 Loans Held for Investment at Fair Value (Tables) HTML 116K
46: R32 Loans Held for Investment at Carrying Value HTML 134K
(Tables)
47: R33 Loan Receivable Held at Carrying Value (Tables) HTML 48K
48: R34 Current Expected Credit Losses (Tables) HTML 81K
49: R35 Interest Receivable (Tables) HTML 35K
50: R36 Interest Reserve (Tables) HTML 35K
51: R37 Debt (Tables) HTML 62K
52: R38 Commitments and Contingencies (Tables) HTML 35K
53: R39 Shareholders' Equity (Tables) HTML 74K
54: R40 Earnings Per Share (Tables) HTML 42K
55: R41 Income Tax (Tables) HTML 38K
56: R42 Fair Value (Tables) HTML 88K
57: R43 Related Party Transactions (Tables) HTML 38K
58: R44 Dividends and Distributions (Tables) HTML 66K
59: R45 Organization (Details) HTML 29K
60: R46 LOANS HELD FOR INVESTMENT AT FAIR VALUE - HTML 48K
Narrative (Details)
61: R47 LOANS HELD FOR INVESTMENT AT FAIR VALUE - Loans HTML 38K
Held at Fair Value (Details)
62: R48 LOANS HELD FOR INVESTMENT AT FAIR VALUE - Changes HTML 70K
in Loans Held at Fair Value (Details)
63: R49 LOANS HELD FOR INVESTMENT AT FAIR VALUE - Loans HTML 57K
Held at Fair Value Portfolio (Details)
64: R50 LOANS HELD FOR INVESTMENT AT CARRYING VALUE - HTML 67K
Narrative (Details)
65: R51 LOANS HELD FOR INVESTMENT AT CARRYING VALUE - HTML 39K
Loans Held at Carrying Value (Details)
66: R52 LOANS HELD FOR INVESTMENT AT CARRYING VALUE - HTML 63K
Changes in Loans Held at Carrying Value (Details)
67: R53 LOANS HELD FOR INVESTMENT AT CARRYING VALUE - HTML 147K
Loans Held at Carrying Value Portfolio (Details)
68: R54 LOAN RECEIVABLE HELD AT CARRYING VALUE - Narrative HTML 40K
(Details)
69: R55 LOAN RECEIVABLE HELD AT CARRYING VALUE - Changes HTML 53K
in Loans Receivable (Details)
70: R56 CURRENT EXPECTED CREDIT LOSSES - Narrative HTML 42K
(Details)
71: R57 CURRENT EXPECTED CREDIT LOSSES - Financing HTML 49K
Receivable, Allowance for Credit Loss (Details)
72: R58 CURRENT EXPECTED CREDIT LOSSES - Financing HTML 55K
Receivable Credit Quality Indicators (Details)
73: R59 Interest Receivable (Details) HTML 34K
74: R60 INTEREST RESERVE - Narrative (Details) HTML 30K
75: R61 INTEREST RESERVE - Changes in Interest Reserve HTML 32K
(Details)
76: R62 DEBT - Narrative (Details) HTML 114K
77: R63 DEBT - Schedule of Maturities of Long-Term Debt HTML 54K
(Details)
78: R64 DEBT - Summary Of Interest Expense (Details) HTML 48K
79: R65 COMMITMENTS AND CONTINGENCIES - Commitments to HTML 32K
Fund Investments (Details)
80: R66 COMMITMENTS AND CONTINGENCIES - Narrative HTML 38K
(Details)
81: R67 SHAREHOLDERS' EQUITY - Narrative (Details) HTML 159K
82: R68 SHAREHOLDERS' EQUITY - Share-based Payment HTML 37K
Arrangement, Option, Activity (Details)
83: R69 SHAREHOLDERS' EQUITY - Assumption Used in The HTML 50K
Option Pricing Model of Options Granted (Details)
84: R70 SHAREHOLDERS' EQUITY - Summary of Stock Option HTML 65K
Activity (Details)
85: R71 SHAREHOLDERS' EQUITY - Schedule of Nonvested Share HTML 44K
Activity (Details)
86: R72 SHAREHOLDERS' EQUITY - Share-Based Payment HTML 51K
Arrangement, Restricted Stock and Restricted Stock
Unity, Activity (Details)
87: R73 Earnings Per Share (Details) HTML 78K
88: R74 INCOME TAX - Narrative (Details) HTML 37K
89: R75 INCOME TAXES - Schedule of Tax Provision (Details) HTML 44K
90: R76 FAIR VALUE - Fair Value, Assets measured on HTML 39K
Recurring and Nonrecurring Basis (Details)
91: R77 FAIR VALUE - Fair Value Measurements of Changes in HTML 45K
Loans using Level 3 inputs (Details)
92: R78 FAIR VALUE - Narrative (Details) HTML 33K
93: R79 FAIR VALUE - Fair Value measurement Inputs and HTML 59K
Valuation Techniques (Details)
94: R80 FAIR VALUE - Book Value and Fair Value of the HTML 41K
Financial Instruments (Details)
95: R81 RELATED PARTY TRANSACTIONS - Narrative (Details) HTML 192K
96: R82 RELATED PARTY TRANSACTIONS - Schedule of Related HTML 43K
Party Transactions (Details)
97: R83 Dividends and Distributions (Details) HTML 43K
98: R84 Subsequent Events (Details) HTML 159K
100: XML IDEA XML File -- Filing Summary XML 180K
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99: EXCEL IDEA Workbook of Financial Report Info XLSX 224K
11: EX-101.CAL XBRL Calculations -- afcg-20231231_cal XML 202K
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101: JSON XBRL Instance as JSON Data -- MetaLinks 595± 871K
102: ZIP XBRL Zipped Folder -- 0001822523-24-000014-xbrl Zip 759K
‘EX-97’ — Clawback Policy re: Recovery of Erroneously Awarded Compensation
In the event AFC Gamma, Inc. (the “Company”) is required to prepare an accounting restatement due to the material noncompliance of the Company with any financial reporting requirement under the securities laws (including any required accounting
restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period), the Company shall recover reasonably promptly the amount of any erroneously awarded Incentive-Based Compensation from each Covered Individual unless an exception (set forth below) applies.
Incentive-Based Compensation shall be considered “erroneously awarded” under this policy to the extent such Incentive-Based Compensation (1) is received by the Covered Individual on or after the effective date of Rule 5608 of The Nasdaq Stock Market LLC (“Nasdaq”) Rules and while the
Company has a class of securities listed on a national securities exchange or a national securities association, (2) is received by the Covered Individual during the three completed fiscal years immediately preceding the date that the Company is required to prepare the accounting restatement (and any transition period applicable to a change in the Company’s fiscal year as required by Nasdaq listing rules), and (3) the amount of such received Incentive-Based Compensation exceeds the amount of the Incentive-Based Compensation that would have been received by the Covered Individual had it been determined based on the restated financial results (with such Incentive-Based Compensation computed in each case without regard to any taxes paid). For purposes of this policy, the date that the
Company is required to prepare the accounting restatement is the earlier to occur of (A) the date the Company’s Board of Directors (the “Board”), or a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such accounting restatement, or (B) the date a court, regulator, or other legally authorized body directs the Company to prepare such accounting restatement.
For
purposes of this policy, Incentive-Based Compensation is considered “received” by a Covered Individual in the Company’s fiscal period during which the Financial Reporting Measure applicable to the Incentive-Based Compensation is attained, even if the payment or grant of the Incentive-Based Compensation occurs after the end of that fiscal period. For Incentive-Based Compensation based on stock price or total shareholder return, where the amount of erroneously awarded compensation is not subject to mathematical recalculation directly from the information in an accounting restatement, the amount of erroneously awarded compensation will be determined by the Compensation Committee of the Board (the “Committee”) based on a reasonable estimate of the effect of the accounting restatement on the stock price or total shareholder return upon
which the Incentive-Based Compensation was received. The Company must maintain documentation of the determination of that reasonable estimate and provide such documentation to Nasdaq as required by Nasdaq listing rules. If the erroneously awarded Incentive-Based Compensation consists of shares (including share-denominated equity awards) or options that are still held by the Covered Individual at the time of recovery, the recoverable amount is the number of shares or options received in excess of the number of shares or options that would have been received based on the accounting restatement (or the value of that excess number). If the options have been exercised but the underlying shares have not been sold, the recoverable amount is the number of shares underlying the excess options based on the restatement (or the value thereof). If the shares have been sold, the recoverable
amount is the proceeds that were received in connection with the sale of the excess number of shares. Amounts credited under plans (other than tax-qualified plans for which the exception set forth below applies) based on erroneously awarded Incentive-Based Compensation and any accrued earnings thereon are also recoverable under this policy.
The Company shall not be required under this policy to recover erroneously awarded Incentive-Based Compensation if the Committee has made a determination that recovery would be impracticable and either of the following conditions are met: (1) after making a reasonable attempt to recover such erroneously awarded Incentive-Based Compensation, the Committee determines that the direct expense paid to a third party to assist in enforcing this policy would exceed the amount
to be recovered (documentation evidencing the reasonable attempt to recover the erroneously awarded Incentive-Based Compensation must be maintained and provided to Nasdaq as required by Nasdaq listing rules), or (2) the recovery would likely cause an otherwise tax-qualified retirement plan, under which benefits are broadly available to employees of the Company, to fail to meet the requirements of Internal Revenue Code Section 401(a)(13) or Internal Revenue Code Section 411(a) and the regulations thereunder.
For purposes of this policy, the following definitions will apply:
•“Covered Individual” means any current or former officer of the
Company who is or was subject to Section 16 of the Securities Exchange Act of 1934, as amended, at any time during the applicable performance period for the relevant Incentive-Based Compensation, regardless of whether such
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individual continues to hold such position or continues to be employed by the Company or any of its subsidiaries.
•“Incentive-Based Compensation” means any compensation that is granted, earned, or vested based wholly or in part upon
the attainment of a Financial Reporting Measure.
•“Financial Reporting Measures” means measures that are determined and presented in accordance with the accounting principles used in preparing the Company’s financial statements, and any measures that are derived wholly or in part from such measures (including, for purposes of this policy, stock price and total shareholder return). A Financial Reporting Measure need not be presented within the Company’s financial statements or included in a filing with the Securities and Exchange Commission.
This policy is intended to
comply with the requirements of Rule 10D-1 promulgated by the Securities and Exchange Commission and the related listing rules of Nasdaq, and the terms hereof shall be construed consistent with that intent. This policy does not limit any other remedies the Company may have available to it in the circumstances, which may include, without limitation, dismissing an employee or initiating other disciplinary procedures. The provisions of this policy are in addition to (and not in lieu of) any rights to repayment the Company may have under Section 304 of the Sarbanes-Oxley Act of 2002 (applicable to the Chief Executive Officer and Chief Financial Officer only) and other applicable laws. The Company shall not indemnify
any Covered Individual against the loss of erroneously-awarded Incentive-Based Compensation that is recovered by the Company pursuant to this policy.
The Committee shall have the sole authority to construe and interpret this policy and to make all determinations required to be made pursuant to this policy. Any such construction, interpretation or determination by the Committee shall be final and binding.
The Committee may revise this policy from time to time.
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Dates Referenced Herein and Documents Incorporated by Reference
