Scott Ulm - Aug 24, 2021 Form 4 Insider Report for Armour Residential REIT, Inc. (ARR)

Signature
/s/ Scott J. Ulm
Stock symbol
ARR
Transactions as of
Aug 24, 2021
Transactions value $
-$77,868
Form type
4
Date filed
8/26/2021, 04:44 PM
Previous filing
May 26, 2021
Next filing
Oct 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARR Common Stock, par value $0.001 per share Options Exercise $0 +18.5K +12.23% $0.00 170K Aug 24, 2021 Direct F1
transaction ARR Common Stock, par value $0.001 per share Disposed to Issuer -$77.9K -7.42K -4.36% $10.50 163K Aug 24, 2021 Direct F1
holding ARR Common Stock, par value $0.001 per share 80K Aug 24, 2021 By ARMOUR Capital Management LP F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARR Phantom Stock Options Exercise $0 -18.5K -6.73% $0.00 257K Aug 24, 2021 Common Stock 18.5K Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 24, 2021, the reporting person elected to convert 11,124 shares out of 18,540 shares of vested phantom stock into 11,124 shares of ARMOUR common stock. The person elected to convert the remaining 7,416 shares of vested phantom stock into cash solely to pay income taxes on the vested stock. The 18,540 shares are part of, and relate to, phantom stock vesting over five-year periods, which was reported on Form 4 reports filed by the reporting person on November 22, 2017 and January 16, 2020, phantom stock vesting over a two-and-a-half year period, which was reported on a Form 4 report filed by the reporting person on May 19, 2020, and phantom stock vesting over a six-and-a-half year period, which was reported on a Form 4 report filed by the reporting person on January 14, 2021.
F2 The reported shares were purchased and are owned directly by ARMOUR Capital Management LP ("ACM"), a limited partnership that is the external manager of the issuer. The shares have been reported in the aggregate for both Mr. Ulm herein and Mr. Jeffrey Zimmer, a Co-CEO of the issuer, in a separate Form 4 report. Mr. Ulm is the sole controlling member of Stacumny LLC, which is one of the general partners of ACM, along with an entity controlled by Mr. Zimmer. Mr. Ulm disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F3 Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.