Form 4: Armour Residential REIT Director Hain Exercises Phantom Stock, Converts Some to Shares

Director Robert C. Hain converted vested phantom stock into Armour Residential REIT shares and cash to cover income taxes.

Summary

• On May 21, 2025, Robert C. Hain, a director of Armour Residential REIT, Inc., executed transactions involving phantom stock.
• Hain converted 260 shares of vested phantom stock into 260 shares of ARMOUR common stock.
• He also converted the remaining 260 shares of vested phantom stock into cash to cover income taxes.
• Following these transactions, Hain directly owns 7,313 shares of common stock and 4,260 units of phantom stock.
• The phantom stock vests over five-year periods and was previously reported on Form 4 filings on January 14, 2021, and February 14, 2023.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation, with no indication of positive or negative sentiment.

Industry Context

This filing reflects routine executive compensation practices within REITs, where phantom stock or similar equity-based awards are used to align management interests with shareholder value.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it involves the conversion of existing equity compensation.
• The conversion of phantom stock into common stock slightly increases the number of outstanding shares.

Key Dates

Keywords

Armour Residential REIT, ARR, Robert C. Hain, phantom stock, Form 4, director, conversion, common stock, beneficial ownership