Form 4: Armour Residential REIT Chairman Converts Phantom Stock to Common Stock
SEC Form 4
Daniel C. Staton, Chairman of Armour Residential REIT, converted phantom stock into common stock on May 22, 2024.
Summary
- On May 22, 2024, Daniel C. Staton, Chairman of the Board at Armour Residential REIT, converted 700 shares of vested phantom stock into 700 shares of ARMOUR common stock.
- He also converted 480 shares of vested phantom stock into 480 shares of ARMOUR common stock on the same day.
- These conversions were reported on a Form 4 filing with the SEC.
- Following these transactions, Staton directly owns 12,590 shares of phantom stock and indirectly owns 12,860 shares of common stock through DM Staton Family Limited Partnership.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard executive stock transaction.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.
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 filing regarding phantom stock vesting. |
| January 14, 2021 | Date of previous Form 4 filing regarding phantom stock vesting. |
| February 14, 2023 | Date of previous Form 4 filing regarding phantom stock vesting. |
| May 22, 2024 | Date of phantom stock conversion to common stock. |
| May 23, 2024 | Date of signature on the Form 4 filing. |
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