Finkelstein David L 4

What Happened

• David L. Finkelstein, CEO, Co‑CIO and director of Annaly Capital Management, sold 50,000 shares of NLY on February 18, 2026. The weighted average sale price was $23.13, for total proceeds of approximately $1,156,500. The sale was reported on Form 4 filed February 19, 2026.

Key Details

• Transaction date: 2026-02-18 (reported 2026-02-19 — timely filing).
• Type: Sale (S) executed pursuant to a Rule 10b5-1 trading plan adopted November 12, 2025 (footnote F1).
• Price(s): Weighted average $23.13; range of execution $22.93 (low) to $23.27 (high). The filer will provide a breakdown of shares sold at each price on request (footnote F2).
• Total proceeds: ~$1,156,500.
• Shares owned after transaction: not specified in the materials provided.
• Additional note: Dividend equivalent units (DEUs) on restricted awards are counted in the reporting person’s common stock balance; each DEU equals one share and is payable in whole shares (footnote F3).

Context

• This was a planned, prearranged sale under a 10b5-1 plan for tax and estate planning purposes; such plans allow insiders to sell shares according to a preset schedule and are generally considered routine. The filing shows a straightforward disposition of stock (no options exercise, gift, or derivative activity reported).