Form 4: Annaly Capital CEO Sells 50,000 Shares in Planned Transaction

Annaly Capital Management's CEO and Co-CIO, David L. Finkelstein, sold 50,000 shares of common stock for tax and estate planning purposes.

Summary

• David L. Finkelstein, CEO and Co-CIO of Annaly Capital Management, Inc. (NLY), reported a sale of 50,000 shares of common stock.
• The transaction occurred on November 3, 2025.
• The shares were sold at a weighted average price of $21.16 per share.
• The sale was executed pursuant to a Rule 10b5-1 plan adopted on May 16, 2024.
• The stated purpose of the plan was for tax and estate planning.
• Following the transaction, Finkelstein directly beneficially owns 709,725 shares of common stock.
• The sale price ranged from a high of $21.34 to a low of $20.93 per share.
• Beneficial ownership includes Dividend Equivalent Units (DEUs) issued on restricted unit awards, which are economically equivalent to one share of common stock and payable in one share for each whole DEU.

Sentiment

Score: 5

Explanation: The transaction is a pre-planned sale for tax and estate planning purposes, which is generally considered a neutral event and not indicative of management's view on the company's future performance.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This insider transaction is specific to Annaly Capital Management and its CEO, David L. Finkelstein. It does not inherently reflect broader industry trends or competitive dynamics, as it is a personal financial planning event.

Stakeholder Impact

• Shareholders: The sale represents a minor reduction in the CEO's direct holdings, but as it's a planned transaction for personal reasons, it is unlikely to significantly impact shareholder sentiment or the company's operational strategy.

Key Dates

Recommendation

The reported sale by the CEO is a pre-planned transaction under a Rule 10b5-1 plan for tax and estate planning. Such sales are typically personal financial decisions and do not reflect a change in the company's fundamental outlook or management's confidence in its future prospects. Therefore, this event alone does not warrant a change in investment recommendation for Annaly Capital Management.

Keywords

Annaly Capital Management, NLY, David L. Finkelstein, Insider Sale, Form 4, 10b5-1 Plan, CEO, Co-CIO, Stock Transaction