GRUBER MARK 4
4 · Armour Residential REIT, Inc. · Filed May 25, 2023
Insider Transaction Report
Form 4
GRUBER MARK
Chief Operating Officer
Transactions
- Exercise/Conversion
Phantom Stock
2023-05-23−8,300→ 177,000 total→ Common Stock (8,300 underlying) - Exercise/Conversion
Common Stock
2023-05-23+8,300→ 98,647 total - Disposition to Issuer
Common Stock
2023-05-23$4.82/sh−1,966$9,476→ 96,681 total
Footnotes (2)
- [F1]On May 23, 2023, the reporting person elected to convert 6,334, of the 8,300 shares of vested phantom stock into 6,334 shares of ARMOUR common stock. The reporting person elected to convert the remaining 1,966 shares of vested phantom stock into cash solely to pay income taxes on the vested stock. The 8,300 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 16, 2020 and June 30, 2020, phantom stock vesting over a six-and-a-half year period, reported on a Form 4 report filed by the reporting person on January 14, 2021 and phantom stock vesting over a seven-and-a-half year period, reported on a Form 4 report filed by the reporting person on February 16, 2023.
- [F2]Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.