Jeffrey J. Zimmer - 21 Feb 2023 Form 4 Insider Report for Armour Residential REIT, Inc. (ARR)

Role
Co-CEO and President, Director
Signature
/s/ Jeffrey J. Zimmer
Issuer symbol
ARR
Transactions as of
21 Feb 2023
Net transactions value
-$49,319
Form type
4
Filing time
23 Feb 2023, 15:39:28 UTC
Previous filing
16 Feb 2023
Next filing
25 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARR Common Stock Options Exercise $0 +21,900 +11% $0.000000 215,376 21 Feb 2023 Direct F1
transaction ARR Common Stock Disposed to Issuer $49,319 -8,760 -4.1% $5.63 206,616 21 Feb 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 -21,900 -4.9% $0.000000 422,150 21 Feb 2023 Common Stock 21,900 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.