Two Harbors (TWO) CAO Alecia Hanson Sells 143,171 Shares

What Happened

• Alecia Hanson, Chief Administrative Officer of Two Harbors Investment Corp. (TWO), had 65,204 shares deemed received on vesting of performance share units (PSUs) and, in connection with the CCM merger, 143,171 shares were converted/surrendered to the issuer for $12.00 per share, generating $1,718,052 in cash proceeds. The PSU issuance is reported as an award/acquisition (code A); the cancellation/conversion to cash under the merger is reported as a disposition to the issuer (code D).

Key Details

• Transaction date: 2026-08-25.
• Award/acquisition: 65,204 shares @ $0.00 (vested PSUs under the 2021 Equity Incentive Plan). (Footnote F1)
• Disposition to issuer: 143,171 shares @ $12.00 = $1,718,052 (merger consideration per the CCM Merger Agreement). (Footnotes F2, F4)
• Net change on the reported transactions: -77,967 shares (143,171 surrendered minus 65,204 received).
• Filing timeliness: Report covers 2026-08-25 and was filed with the Form 4 on the same date (no late filing indicated).
• Filing notes RSUs/PSUs treatment: outstanding RSUs and PSUs were canceled/converted into rights to receive the $12.00 merger consideration, with PSUs credited based on earned/vested amounts as determined under the merger terms. (Footnotes F3–F4)

Context

• This activity is merger-related, not an open-market sale: at the effective time of the CCM merger, each TWO share was cancelled and converted into $12.00 cash, so the disposition reflects receiving merger consideration rather than a voluntary market sale.
• The 65,204 shares reflect PSUs that vested/were deemed received; the filing does not indicate total remaining shares owned by the insider after these transactions.