Armour Residential (ARR) Director Robert C. Hain Converts Phantom Stock

What Happened Robert C. Hain, a director of Armour Residential REIT (ARR), converted 1,900 vested phantom stock units on August 21, 2026. Per the filing, he elected to convert 950 units into 950 shares of Armour common stock (acquired at $0 as a derivative conversion) and convert the other 950 units into cash to cover income taxes; 950 shares were withheld/disposed at $16.32 per share, generating $15,504. The phantom units are economically equivalent to common shares.

Key Details

• Transaction date: August 21, 2026; Form 4 filed August 25, 2026 (timely within the two-business-day filing window).
• Codes: M = exercise/conversion of derivative (conversion of phantom stock into shares/cash); F = shares withheld/disposed to satisfy tax withholding.
• Shares involved: 1,900 phantom units vested; 950 converted to 950 common shares; 950 converted to cash for taxes (950 shares withheld at $16.32 = $15,504).
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: the 1,900 units relate to phantom stock vesting over five-year periods (previously reported on Form 4s filed Feb 14, 2023; Dec 18, 2025; May 21, 2026). Each phantom unit equals one share of Armour common stock.

Context This was a conversion of vested phantom stock, not an open-market buy or sell of existing holdings: half of the vested units were taken as actual shares and half were cashed solely to cover tax obligations. Conversions and tax-withholding disposals are common administrative transactions and do not necessarily signal a change in the insider’s view of the company.