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

Annaly Capital Management's Chief Corporate Officer, Anthony C. Green, sold 22,499 shares of common stock for tax and estate planning purposes.

Summary

• Anthony C. Green, Chief Corporate Officer and CLO of Annaly Capital Management, Inc. (NLY), reported a sale of common stock.
• On November 3, 2025, Green sold 22,499 shares of NLY common stock.
• The shares were sold at a weighted average price of $21.15 per share, with prices ranging from $20.93 to $21.34.
• This transaction was executed under a Rule 10b5-1 plan, which was adopted on May 5, 2025, for tax and estate planning purposes.
• Following this sale, Green beneficially owns 178,441 shares of Annaly Capital Management common stock.
• The reported common stock holding balance includes Dividend Equivalent Units (DEUs) issued on restricted unit awards, with each DEU being economically equivalent to one share of common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly negative. While insider selling can be perceived negatively, the transaction was pre-planned under a 10b5-1 plan for tax and estate planning, which mitigates the negative signal, suggesting a personal financial decision rather than a reflection of company performance.

Positives

• The sale was conducted under a pre-arranged Rule 10b5-1 plan, indicating a planned transaction rather than a reaction to recent events.
• The stated reason for the sale is tax and estate planning, which is a common and often neutral reason for insider transactions.

Negatives

• An insider, the Chief Corporate Officer, sold a significant number of shares (22,499).

Future Outlook

NA

Management Comments

• The sale of shares of common stock reported was effected pursuant to a Rule 10b5-1 plan adopted May 5, 2025 for tax and estate planning purposes.

Industry Context

This insider transaction is specific to Annaly Capital Management and does not directly reflect broader industry trends or competitive dynamics.

Stakeholder Impact

• Shareholders: May interpret the insider sale as a slight negative signal, though mitigated by the pre-arranged 10b5-1 plan and stated reasons for tax and estate planning.

Key Dates

Recommendation

The sale by a Chief Corporate Officer, while an insider transaction, was conducted under a pre-arranged Rule 10b5-1 plan for tax and estate planning purposes. This suggests a planned personal financial move rather than a reflection of a change in company fundamentals or outlook. Without additional information or a pattern of significant insider selling, this single transaction does not provide a strong basis to alter an existing investment thesis, thus a 'hold' recommendation is appropriate.

Keywords

Annaly Capital Management, NLY, insider trading, Form 4, stock sale, Rule 10b5-1, Anthony C. Green, Chief Corporate Officer, CLO, beneficial ownership