James R. Mountain - 21 Nov 2023 Form 4 Insider Report for Armour Residential REIT, Inc. (ARR)

Role
Chief Financial Officer
Signature
/s/ James R. Mountain
Issuer symbol
ARR
Transactions as of
21 Nov 2023
Net transactions value
-$12,883
Form type
4
Filing time
24 Nov 2023, 16:07:36 UTC
Previous filing
24 Aug 2023
Next filing
26 Feb 2024
SEC
View on sec.gov

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 +1,860 +10% $0.000000 20,242 21 Nov 2023 Direct F1, F2
transaction ARR Common Stock, par value $0.001 per share Sale $12,883 -740 -3.7% $17.41 19,502 21 Nov 2023 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 -1,860 -5.4% $0.000000 32,880 21 Nov 2023 Common Stock 1,860 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 21, 2023, the reporting person elected to convert 1,120 of the 1,860 shares of vested phantom stock into 1,120 shares of ARMOUR common stock. The reporting person elected to convert the remaining 740 shares of vested phantom stock into cash solely to pay income taxes on the vested stock. The 1,860 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 seven-and-a-half year period, which were reported on a Form 4 report filed by the reporting person on January 14, 2021 and February 16, 2023.
F2 Total reflects a 1 for 5 reverse stock split that occurred on September 29, 2023.
F3 Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.