William Ross Greenberg - 17 Dec 2025 Form 4 Insider Report for TWO HARBORS INVESTMENT CORP. (TWO)

Role
Chief Executive Officer, Director
Signature
/s/ William Greenberg
Issuer symbol
TWO
Transactions as of
17 Dec 2025
Net transactions value
-$1,186,458
Form type
4
Filing time
19 Dec 2025, 17:26:01 UTC
Previous filing
11 Feb 2025
Next filing
31 Dec 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
GREENBERG WILLIAM ROSS Chief Executive Officer, Director TWO HARBORS INVESTMENT CORP., 1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK /s/ William Greenberg 19 Dec 2025 0001792521

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TWO Common stock, par value $0.01 per share Award $0 +103,948 +27% $0.000000 495,405 17 Dec 2025 Direct F1
transaction TWO Common stock, par value $0.01 per share Award $0 +309,187 +62% $0.000000 804,592 18 Dec 2025 Direct F2
transaction TWO Common stock, par value $0.01 per share Sale $1,186,458 -103,893 -13% $11.42 700,699 19 Dec 2025 Direct F3
holding TWO Common stock, par value $0.01 per share 3,025 17 Dec 2025 By Spouse F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Represents shares of common stock received by the reporting person in connection with the vesting of performance share units previously granted to the reporting person under the Two Harbors Investment Corp. 2021 Equity Incentive Plan (the "Plan").
F2 Represents a restricted stock award granted to the reporting person under the Plan. The restricted stock award was received as a grant for no consideration. The restricted stock award will vest in three installments on each of the first, second and third anniversaries of the grant date.
F3 The reporting person sold the shares to satisfy income tax liabilities incurred as a result of the accelerated vesting of the restricted stock units and performance share units previously granted to the reporting person. The sale reported on this Form 4 was effected pursuant to trading instructions given by the reporting person on January 26, 2023 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
F4 Includes 3,025 shares held by the reporting person's spouse. While the reporting person retains a pecuniary interest in these shares, he does not have dispositive or voting power with respect thereto and he disclaims any beneficial ownership interest therein.