Armour (ARR) CFO Harper Gordon Converts Phantom Stock to 4,956 Shares

What Happened

• Harper Gordon, Chief Financial Officer of Armour Residential REIT (ARR), converted vested phantom stock on August 21, 2026. He converted 4,956 phantom units into 4,956 shares of Armour common stock (no exercise price) and elected to convert the remaining 2,794 vested phantom units into cash to satisfy income tax withholding obligations.
• The cash conversion (tax withholding) involved the disposal of 2,794 shares at $16.32 each, totaling $45,598. The phantom stock units converted were part of several prior phantom stock awards that vested under different schedules.

Key Details

• Transaction date: August 21, 2026.
• Conversions: 7,750 vested phantom units total (4,956 converted to shares; 2,794 converted to cash for taxes).
• Prices/values: conversion had $0 exercise price for the shares; tax-withholding sale was 2,794 shares @ $16.32 = $45,598.
• Footnotes: Each phantom unit equals one share of Armour common stock. The 7,750 units relate to multiple prior phantom stock grants (reported on Form 4s in 2021, 2023, 2024, 2025 and 2026).
• Shares owned after transaction: not specified in this filing.
• Filing timeliness or 10b5-1 plan: none disclosed in this report.

Context

• This was an award conversion and a routine cash-withholding to cover taxes—not an open-market investment purchase or a voluntary sale for cash beyond tax withholding. Phantom stock is an economic equivalent of shares; converting phantom units into shares and selling some to cover taxes is a common executive compensation action and does not necessarily signal a change in the insider’s investment view.