ULM SCOTT 4

What Happened Scott Ulm, CEO and a director of Armour Residential REIT, was granted 150,000 phantom shares (a derivative award) on June 16, 2026. The award was recorded at $0.00 per unit (no cash paid); phantom shares are the economic equivalent of common stock and will convert to an equal number of ARMOUR common shares upon vesting and settlement.

Key Details

• Transaction type: Award/Grant (code A) — 150,000 phantom shares granted on 2026-06-16 at $0.00 (derivative).
• Vesting: 7,500 phantom shares vest on each Aug 20, Nov 20, Feb 20 and May 20 through May 20, 2031; all units fully vested by May 20, 2031. Upon each vesting, Ulm is entitled to the equal number of common shares within 30 days. (Footnotes F1, F2)
• Shares owned after transaction: Not specified in this filing.
• Filing timeliness: Report filed 2026-06-18 for a 2026-06-16 grant — appears timely (Form 4 typically due within two business days).
• No sale, purchase, tax withholding, or 10b5-1 plan referenced in this filing.

Context This is a time‑based equity award (phantom stock) rather than an open‑market purchase or sale. Phantom shares provide economic exposure and will convert to actual common shares as they vest; they do not require immediate cash outlay by the insider. Such grants are common compensation tools and do not by themselves indicate an intent to buy or sell shares in the market.