Jeffrey J. Zimmer - May 23, 2022 Form 4 Insider Report for Armour Residential REIT, Inc. (ARR)

Role
Co-CEO and President, Director
Signature
/s/ Jeffrey J. Zimmer
Stock symbol
ARR
Transactions as of
May 23, 2022
Transactions value $
-$54,359
Form type
4
Date filed
5/25/2022, 05:21 PM
Previous filing
Feb 25, 2022
Next filing
Aug 25, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARR Common Stock Options Exercise $0 +18.5K +9.58% $0.00 212K May 23, 2022 Direct F1
transaction ARR Common Stock Disposed to Issuer -$54.4K -7.42K -3.5% $7.33 205K May 23, 2022 Direct

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 -8.44% $0.00 201K May 23, 2022 Common Stock 18.5K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 23, 2022, the reporting person elected to convert 11,124 of the 18,540 shares shares of vested phantom stock into 11,124 shares of ARMOUR common stock. The reporting 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 Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.