PAPERIN STEWART J 4
4 · Armour Residential REIT, Inc. · Filed Nov 25, 2025
Insider Transaction Report
Form 4
PAPERIN STEWART J
Director
Transactions
- Exercise/Conversion
Common Stock, par value $0.001 per share
2025-11-21+540→ 6,386 total(indirect: See Footnote) - Exercise/Conversion
Phantom Stock
2025-11-21−540→ 3,200 total→ Common Stock (540 underlying)
Holdings
- 208
Common Stock, par value $0.001 per share
Footnotes (3)
- [F1]On November 21, 2025, the reporting person elected to convert 540 shares of vested phantom stock into 540 shares of ARMOUR common stock. The 540 shares are part of, and relate to, phantom stock vesting over five-year periods, which was reported on Form 4 reports filed by the reporting person on January 14, 2021 and February 14, 2023.
- [F2]Represents shares owned indirectly through the Stewart J. Paperin Family Trust. Mr. Paperin has a pecuniary interest in and investment control over the shares held by the Trust.
- [F3]Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.