Jeffrey J. Zimmer - Feb 21, 2023 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
Feb 21, 2023
Transactions value $
-$49,319
Form type
4
Date filed
2/23/2023, 03:39 PM
Previous filing
Feb 16, 2023
Next filing
May 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARR Common Stock Options Exercise $0 +21.9K +11.32% $0.00 215K Feb 21, 2023 Direct F1
transaction ARR Common Stock Disposed to Issuer -$49.3K -8.76K -4.07% $5.63 207K Feb 21, 2023 Direct F1

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 -21.9K -4.93% $0.00 422K Feb 21, 2023 Common Stock 21.9K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 21, 2023, the reporting person elected to convert 13,140 of the 21,900 shares of vested phantom stock into 13,140 shares of ARMOUR common stock. The reporting person elected to convert the remaining 8,760 shares of vested phantom stock into cash solely to pay income taxes on the vested stock. The 21,900 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 January 16, 2020, 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 and phantom stock vesting over a seven year period, which was reported on a Form 4 report filed by the reporting person on February 16, 2023.
F2 Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.