Scott J. Ulm - 23 Aug 2022 Form 4 Insider Report for Armour Residential REIT, Inc. (ARR)

Role
Co-CEO, Director
Signature
/s/ Scott J. Ulm
Issuer symbol
ARR
Transactions as of
23 Aug 2022
Net transactions value
-$52,357
Form type
4
Filing time
25 Aug 2022, 16:46:45 UTC
Previous filing
25 May 2022
Next filing
25 Nov 2022
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 +18,540 +9.5% $0.000000 214,623 23 Aug 2022 Direct F1
transaction ARR Common Stock, par value $0.001 per share Disposed to Issuer $52,357 -7,416 -3.5% $7.06 207,207 23 Aug 2022 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 -18,540 -9.2% $0.000000 182,590 23 Aug 2022 Common Stock 18,540 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 23, 2022, the reporting person elected to convert 18,540 shares of vested phantom stock into 11,124 shares of ARMOUR common stock and 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 a five-year period, reported on Form 4s filed on November 22, 2017 and January 2020, phantom stock vesting over a two-and-a-half year period, reported on Form 4 filed on May 19, 2020, and phantom stock vesting over a six-and-a-half year periods, reported on a Form 4 filed on January 14, 2021.
F2 Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.