Form 4: Annaly Capital COO Sells Shares Under 10b5-1 Plan

Annaly Capital Management's President and COO, Steven Francis Campbell, sold 28,225 shares of common stock for tax and estate planning purposes.

Summary

• Steven Francis Campbell, President and COO of Annaly Capital Management Inc. (NLY), reported a sale of common stock.
• A total of 28,225 shares of common stock were disposed of.
• The transaction occurred on February 18, 2026, at a weighted average sale price of $23.12 per share.
• The shares were sold within a price range of $22.93 to $23.27.
• The sale was executed pursuant to a Rule 10b5-1 plan, which was adopted on November 3, 2025, for tax and estate planning purposes.
• Following this transaction, Steven Francis Campbell beneficially owns 204,491 shares of common stock.
• The reported 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 shares.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as the insider sale was pre-planned under a Rule 10b5-1 plan for personal tax and estate planning, mitigating concerns about a lack of confidence in the company's future.

Negatives

• Insider selling, even if pre-planned, can sometimes be perceived by the market as a signal that an executive believes the stock may be fully valued or that personal capital is being diversified away from the company.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The sale of shares of common stock was effected pursuant to a Rule 10b5-1 plan adopted November 3, 2025, for tax and estate planning purposes.

Industry Context

StockSavvy.ai notes that insider sales executed under a Rule 10b5-1 plan are common and typically reflect personal financial management strategies rather than a change in the insider's view of the company's prospects. Such pre-arranged plans are designed to allow insiders to sell shares without being accused of trading on material non-public information.

Stakeholder Impact

• Shareholders may observe the insider sale, but the context of a Rule 10b5-1 plan for tax and estate planning generally reduces the likelihood of a significant negative interpretation regarding the company's future.

Key Dates

Keywords

NLY, Annaly Capital Management, Steven Francis Campbell, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Corporate Officer