Campbell Steven Francis 4

What Happened Steven Francis Campbell, President and COO of Annaly Capital Management (NLY), had restricted stock units (RSUs) vest on February 1, 2026. He was issued 52,151 shares from those RSUs at an attributable value of $23.01 per share (total ~$1,199,995). To satisfy the related tax withholding obligation, Campbell surrendered 39,810 shares at the same $23.01 price (proceeds/consideration ~$916,028). The net result of these transactions is a gain of 12,341 shares from the vesting event (52,151 acquired minus 39,810 surrendered).

Key Details

• Transaction date(s) and prices: 2026-02-01 — 52,151 shares issued @ $23.01 (value $1,199,995); 39,810 shares surrendered @ $23.01 (value $916,028).
• Net change in holdings from this filing: +12,341 shares. Total shares owned after the transactions are not stated in the provided filing excerpt.
• Footnotes: F1 — shares surrendered to issuer to satisfy tax withholding for RSU vesting (grants from Feb 1, 2023/2024/2025). F2 — dividend equivalent units (DEUs) on RSUs are counted in the reporting balance and are payable in shares for whole DEUs. F3 — RSUs granted under the 2020 Equity Incentive Plan; each RSU converts to one share and vests ratably over three years starting one year after grant.
• Filing timeliness: Form 4 filed 2026-02-03 reporting 2026-02-01 activity; this appears to be within the usual two-business-day filing window.

Context These transactions reflect RSU vesting (an award/acquisition) with a routine, cashless-type share surrender to cover tax withholding — not an open-market purchase or directional sale. RSU issuances increase an insider’s beneficial holdings but are compensation-driven; surrendered shares to satisfy taxes are common and do not necessarily signal a view on the company’s stock. Dividend equivalent units (DEUs) associated with RSUs are included in the reported balance and are paid in shares for whole DEUs.