Form 4: Annaly COO Campbell Sells, Acquires NLY Shares

Annaly Capital Management's President and COO, Steven Francis Campbell, reported a series of transactions including the sale of shares under a 10b5-1 plan, the vesting of performance stock units, and shares withheld for tax obligations.

Summary

• Steven Francis Campbell, President and COO of Annaly Capital Management, Inc. (NLY), reported multiple transactions on February 25, 2026.
• Campbell sold 26,491 shares of common stock at a weighted average price of $22.83 per share, ranging from $22.55 to $23.01.
• This sale was executed pursuant to a Rule 10b5-1 plan adopted on November 3, 2025, for tax and estate planning purposes.
• Campbell acquired 85,319 shares of common stock at $23.01 per share, representing the vesting of a Performance Stock Unit (PSU) award, inclusive of dividend equivalent units (DEUs).
• Concurrently, 43,556 shares were surrendered to the issuer at $23.01 per share to satisfy tax withholding obligations related to the PSU award vesting.
• Following these transactions, Campbell's direct beneficial ownership of Annaly common stock stands at 219,763 shares, which includes dividend equivalent units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. The transactions represent a mix of pre-planned sales and compensation-related acquisitions and disposals, which are routine for executives and do not inherently signal a positive or negative outlook for the company.

Positives

• The acquisition of 85,319 shares indicates the vesting of a Performance Stock Unit (PSU) award, suggesting the achievement of performance metrics by the executive.

Negatives

• The sale of 26,491 shares, even if pre-planned, reduces the executive's direct ownership in the company.
• The surrender of 43,556 shares for tax withholding purposes further reduces the executive's direct beneficial ownership.

Future Outlook

This Form 4 filing reports past insider transactions and does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

StockSavvy.ai notes that insider transactions, such as those reported in a Form 4, are common occurrences in publicly traded companies. While the specific details are company-specific, the use of Rule 10b5-1 plans for pre-planned sales is a standard practice for executives to manage their equity holdings and mitigate accusations of trading on material non-public information. The vesting of performance-based awards is also a typical component of executive compensation in the financial services industry, particularly for mortgage REITs like Annaly Capital Management.

Related Party Transactions

• The reported transactions involve Steven Francis Campbell, President and COO of Annaly Capital Management, Inc., and the issuer's common stock, which are inherently related party dealings.

Stakeholder Impact

• Shareholders may view the executive's sale of shares, even if planned, with scrutiny, though the vesting of PSUs indicates performance achievement.
• The transactions provide transparency to investors regarding executive stock ownership and compensation.

Key Dates

Keywords

Annaly Capital Management, NLY, Form 4, insider transaction, stock sale, PSU vesting, executive compensation, Rule 10b5-1