Two Harbors (TWO) EVP Nathan Boucher Sells Shares

What Happened

• Nathan Boucher, EVP & General Counsel of RoundPoint and a reporting person for Two Harbors Investment Corp. (TWO), had 20,893 performance share units (PSUs) recorded as vested/received and, in connection with the company's merger, 48,142 TWO shares were disposed to the issuer at $12.00 per share for total cash proceeds of $577,704. The PSUs are reported as an award/acquisition at $0.00 (see footnote).

Key Details

• Transaction date: 2026-08-25.
• Award/acquisition: 20,893 shares reported as vested PSUs (recorded at $0.00) — these PSUs were deemed received upon vesting (Footnote F1).
• Disposition: 48,142 shares disposed to the issuer at $12.00 per share, total proceeds $577,704 (Footnote F2/F4).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Filing timeliness: Form filed the same day (2026-08-25) — appears timely.
• Relevant notes: Transactions occurred as part of the CCM Merger, which automatically cancelled TWO common stock and converted each share to $12.00 cash consideration; RSUs and PSUs were converted/cancelled per the merger agreement (Footnotes F2–F4).

Context

• This was not an open-market sale but a merger cash-out: TWO shares (including vested RSUs/PSUs) were converted into cash under the Agreement and Plan of Merger (CrossCountry/CCM) at $12.00 per share. For retail investors, this reflects a corporate transaction payout rather than a routine insider disposition driven by trading decisions.