Francine J. Bovich - May 14, 2025 Form 4 Insider Report for ANNALY CAPITAL MANAGEMENT INC (NLY)

Role: Director
Signature: /s/ Anthony C. Green, as Attorney-in-Fact for Francine J. Bovich
Stock symbol: NLY
Transactions as of: May 14, 2025
Transactions value $: $0
Form type: 4
Date filed: 5/15/2025, 04:17 PM
Previous filing: May 17, 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Bovich Francine J.	Director	C/O ANNALY CAPITAL MANAGEMENT, INC., 1211 AVENUE OF THE AMERICAS, NEW YORK	/s/ Anthony C. Green, as Attorney-in-Fact for Francine J. Bovich	2025-05-15	0001534336

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	NLY	Common Stock						3.38K	May 14, 2025	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
holding	NLY	Deferred Stock Units						102K	May 14, 2025	Common Stock	102K		Direct	F1, F2

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

Francine J. Bovich is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	The Deferred Stock Units ("DSUs") convert to shares of Common Stock on a one-for-one basis one year after the date of grant unless the director elects to defer the settlement of the DSUs until after a termination of service pursuant to the Annaly Capital Management, Inc. 2010 Equity Incentive Plan or the Annaly Capital Management, Inc. 2020 Equity Incentive Plan, as applicable. The reporting person has elected such deferred settlement for all DSUs reported above.
F2	Reflects the aggregate amount of DSUs granted during the tenure of the respective director net of any conversions, including 50,483 DSUs acquired pursuant to dividend reinvestment for which no additional price was paid.

Content

The Deferred Stock Units ("DSUs") convert to shares of Common Stock on a one-for-one basis one year after the date of grant unless the director elects to defer the settlement of the DSUs until after a termination of service pursuant to the Annaly Capital Management, Inc. 2010 Equity Incentive Plan or the Annaly Capital Management, Inc. 2020 Equity Incentive Plan, as applicable. The reporting person has elected such deferred settlement for all DSUs reported above.

Reflects the aggregate amount of DSUs granted during the tenure of the respective director net of any conversions, including 50,483 DSUs acquired pursuant to dividend reinvestment for which no additional price was paid.