Form 4: Armour Residential REIT Chairman Converts Phantom Stock

Armour Residential REIT's Chairman, Daniel C. Staton, converted 1,040 shares of vested phantom stock into common stock on November 21, 2025.

Summary

• Daniel C. Staton, Chairman of the Board and Director of Armour Residential REIT, Inc. (ARR), converted vested phantom stock into common stock.
• On November 21, 2025, Staton converted 540 shares of vested phantom stock into 540 shares of ARR common stock.
• On the same date, he also converted an additional 500 shares of vested phantom stock into 500 shares of ARR common stock.
• Each unit of phantom stock is the economic equivalent of one share of ARR common stock.
• These conversions increased his indirect beneficial ownership of common stock through DM Staton Family Limited Partnership.

Sentiment

Score: 6

Explanation: The conversion of vested phantom stock into common stock by the Chairman is a routine compensation event. While not a direct open market purchase, it increases the insider's beneficial ownership, which is generally viewed as a positive sign of alignment with shareholder interests.

Positives

• Chairman Daniel C. Staton converted 1,040 shares of vested phantom stock into common stock, increasing his beneficial ownership and aligning his interests with shareholders.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• Daniel C. Staton, Chairman of the Board, converted vested phantom stock into common stock, indicating a continued commitment to the company.

Industry Context

This insider transaction is a routine conversion of vested equity compensation, common among executives in the REIT sector, and reflects the exercise of previously granted phantom stock awards.

Comparison to Industry Standards

• NA

Legal Proceedings

• NA

Related Party Transactions

• Shares are owned indirectly through DM Staton Family Limited Partnership, where the reporting person is a general partner and a limited partner, and has a pecuniary interest in the shares.

Stakeholder Impact

• Shareholders: Increased alignment of the Chairman's interests with shareholders due to the conversion of phantom stock into common stock.

Next Steps

• NA

Key Dates

Recommendation

This Form 4 reports a routine conversion of vested phantom stock into common shares by the Chairman. While it increases insider ownership, it does not represent a new investment decision or significant change in the company's fundamentals or outlook. Therefore, it does not warrant a change in investment recommendation based solely on this filing.

Keywords

Armour Residential REIT, ARR, Daniel C. Staton, Form 4, Insider Transaction, Phantom Stock Conversion, Common Stock, Director, Chairman