Form 4: Armour Residential REIT Director Downey Reports Stock Transactions
SEC Form 4 Filing
Director Carolyn Downey reports converting phantom stock into common stock and cash for tax obligations on August 22, 2024.
Summary
- On August 22, 2024, Carolyn Downey, a director of Armour Residential REIT, Inc., engaged in transactions involving the company's stock.
- Downey converted 260 shares of vested phantom stock into 260 shares of ARMOUR common stock.
- She also converted the remaining 260 shares of vested phantom stock into cash to cover income taxes on the vested stock.
- These 520 shares are part of 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 18,431 shares of common stock and 5,840 units of phantom stock.
Sentiment
Score: 5
Explanation: The document is a neutral report of stock transactions, with no inherent positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, as required by the SEC. It provides transparency to investors regarding the actions of company leadership.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the number of outstanding shares, but the effect is likely negligible.
Key Dates
| Date | Description |
|---|---|
| 2020-01-16 | Date of previous Form 4 report filing regarding phantom stock vesting. |
| 2023-02-14 | Date of previous Form 4 report filing regarding phantom stock vesting. |
| 2024-08-22 | Date of phantom stock conversion into common stock and cash. |
| 2024-08-23 | Date of signature on the Form 4 filing. |
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