William Dellal - 22 Dec 2025 Form 4 Insider Report for TWO HARBORS INVESTMENT CORP. (TWO)

Role
Chief Financial Officer
Signature
/s/ William Dellal
Issuer symbol
TWO
Transactions as of
22 Dec 2025
Transactions value $
-$81,099
Form type
4
Filing time
22 Dec 2025, 16:15:10 UTC
Previous filing
10 Jan 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Dellal William Chief Financial Officer TWO HARBORS INVESTMENT CORP., 1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK /s/ William Dellal 22 Dec 2025 0001829071

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 Sale -$81,099 -7,087 -16% $11.44 36,703 22 Dec 2025 Direct F1, F2
* 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 The reporting person sold the shares to satisfy income tax liabilities incurred as a result of the vesting of restricted stock units previously granted to the reporting person. The transaction reported on this Form 4 was effected pursuant to trading instructions given by the reporting person on May 22, 2025 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.44 to $11.45, inclusive. The reporting person undertakes to provide to Two Harbors Investment Corp., any security holder of Two Harbors Investment Corp., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.