Form 4: Armour Residential REIT Chairman Converts Phantom Stock to Common Shares
SEC Form 4
Daniel C. Staton, Chairman of Armour Residential REIT, converted phantom stock into common shares on August 22, 2024.
Summary
- Daniel C. Staton, Chairman of the Board at Armour Residential REIT, executed transactions involving phantom stock and common stock on August 22, 2024.
- Staton converted 700 shares of vested phantom stock into 700 shares of ARMOUR common stock.
- These 700 shares relate to phantom stock vesting over five-year periods, previously reported in Form 4 filings on January 16, 2020, January 14, 2021, and February 14, 2023.
- Additionally, Staton converted 480 shares of vested phantom stock into 480 shares of ARMOUR common stock.
- These 480 shares relate to phantom stock vesting over five-year periods (reported on January 16, 2020, and February 14, 2023) and a six-and-a-half-year period (reported on January 14, 2021).
- Following these transactions, Staton directly owns 11,410 derivative securities and indirectly owns 14,040 common shares through DM Staton Family Limited Partnership.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider transactions, with no inherent positive or negative implications.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives.
Stakeholder Impact
- The conversion of phantom stock to common stock may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| January 16, 2020 | Date of previous Form 4 report regarding phantom stock vesting. |
| January 14, 2021 | Date of previous Form 4 report regarding phantom stock vesting. |
| February 14, 2023 | Date of previous Form 4 report regarding phantom stock vesting. |
| August 22, 2024 | Date of phantom stock conversion to common stock. |
| August 23, 2024 | Date of signature on the Form 4 filing. |
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