Form 4: Armour Residential REIT Director, Carolyn Downey, Reports Stock Transactions
SEC Form 4
Director Carolyn Downey converted vested phantom stock into common stock and cash to cover income taxes on May 22, 2024.
Summary
- On May 22, 2024, Carolyn Downey, a director of Armour Residential REIT, Inc., executed transactions involving the company's stock.
- Downey converted 260 shares of vested phantom stock into 260 shares of ARMOUR common stock.
- An additional 260 shares of vested phantom stock were converted into cash to cover income taxes related to the vested stock.
- These transactions are related to phantom stock vesting over five-year periods, previously reported on Form 4 filings on January 16, 2020, and February 14, 2023.
- Following these transactions, Downey directly owns 17,320 shares of common stock and 6,360 units of phantom stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company director, which is neutral in sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to insider transactions and provides transparency to investors regarding the actions of company directors.
Stakeholder Impact
- The transactions have a minimal impact on stakeholders as they involve the conversion of existing phantom stock into common stock and cash for tax obligations.
Key Dates
| Date | Description |
|---|---|
| January 16, 2020 | Date of previous Form 4 report filing regarding phantom stock vesting. |
| February 14, 2023 | Date of previous Form 4 report filing regarding phantom stock vesting. |
| May 22, 2024 | Date of the reported transactions: conversion of phantom stock to common stock and cash. |
| May 23, 2024 | Date of signature on the Form 4 filing. |
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