Gordon Harper - 15 May 2024 Form 4 Insider Report for Armour Residential REIT, Inc. (ARR)

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	Award	$0	+3,840	+25%	$0.000000	19,500	15 May 2024	Common Stock	3,840		Direct	F1, F2
transaction	ARR	Phantom Stock	Award	$0	+2,400	+12%	$0.000000	21,900	15 May 2024	Common Stock	2,400		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.
F2	On May 15, 2024, the reporting person was granted an aggregate of 3,840 phantom shares under ARMOUR Residential REIT, Inc.'s ("ARMOUR") Third Amended and Restated 2009 Stock Incentive Plan (the "Plan") pursuant to the time-based vesting schedule described as follows. 320 phantom shares will vest on each of May 20, August 20, November 20 and February 20, through February 20, 2027, at which time all phantom stock shall have vested. Upon vesting, the reporting person will be entitled to an equal number of shares of ARMOUR common stock within 30 days. Such shares were granted from shares previously granted to and then forfeited by former officers of ARMOUR.
F3	On May 15, 2024, the reporting person was granted an aggregate of 2,400 phantom shares under ARMOUR Residential REIT, Inc.'s ("ARMOUR") the Plan pursuant to the time-based vesting schedule described as follows. 800 phantom shares will vest on each of May 20, 2024, August 20, 2024, and November 20, 2024, at which time all phantom stock shall have vested. Upon vesting, the reporting person will be entitled to an equal number of shares of ARMOUR common stock within 30 days. Such shares were granted from shares previously granted to and then forfeited by former officers of ARMOUR.