Armour (ARR) Director Marc H. Bell Converts 2,380 Phantom Shares

What Happened

• Marc H. Bell, a director of Armour Residential REIT, Inc. (ARR), converted a total of 2,380 vested phantom stock units into 2,380 shares of Armour common stock on August 21, 2026. The conversions carried an exercise/conversion price of $0.00, so no cash was paid. The filing shows the underlying derivative units were terminated (disposed) while the same number of common shares were acquired.

Key Details

• Transaction date: August 21, 2026; Form 4 filed August 25, 2026 (filed within the 2-business-day reporting window).
• Shares converted/acquired: 1,900 shares (from phantom units vesting over five-year periods) and 480 shares (from phantom units vesting over a ~6.5-year period), totaling 2,380 shares.
• Price: $0.00 per share for the conversions (no cash consideration reported).
• Shares owned after the transaction: not specified in the provided filing.
• Footnotes: conversions relate to previously reported phantom stock vesting (see Form 4s filed Feb 14, 2023; Dec 18, 2025; May 21, 2026; and Jan 14, 2021). Each phantom stock unit equals one share of Armour common stock.
• No 10b5-1 plan, tax-withholding sale, or sale of shares immediately after conversion was reported.

Context

• These were conversions of phantom stock (a derivative award that tracks equity) into actual shares — not an open-market buy or sale. Because the conversion price was $0.00, this reflects the issuance of shares upon vesting rather than a cash exercise. Such award conversions are common compensation events for directors and do not by themselves indicate a buy or sell signal.