PAPERIN STEWART J 4

What Happened Stewart J. Paperin, a director of Armour Residential REIT, received 989 shares of Armour common stock on April 1, 2026 as an award/compensation election. The shares were issued at $16.68 per share for a total value of $16,497. This was a grant/award (transaction code A) — a compensation election, not an open‑market purchase or sale.

Key Details

• Transaction date and price: April 1, 2026; 989 shares at $16.68 each.
• Total value: approximately $16,497.
• Shares owned after transaction: not specified in the filing.
• Footnotes: (1) The 989 shares represent Mr. Paperin’s election to receive $16,500 of his quarterly board compensation in common stock (directors may elect stock, cash, or a mix). (2) Some shares are owned indirectly through the Stewart J. Paperin Family Trust; Mr. Paperin has pecuniary interest and investment control over those trust-held shares.
• Filing timeliness: Form 4 was filed April 3, 2026 (two days after the April 1 transaction); the filing does not indicate a late report.

Context This transaction reflects routine director compensation paid in stock per Armour’s director election policy. Such awards are common and represent compensation choices rather than direct signals of the director’s market view.