Losyev Sergey 4

What Happened

• Sergey Losyev, Co‑Chief Investment Officer of Armour Residential REIT (ARR), converted 1,500 vested phantom stock units on May 21, 2026. Of those, 1,219 units were converted into 1,219 shares of Armour common stock (no exercise price) and 281 units were converted to cash to cover income taxes (281 shares disposed at $16.47 each for $4,628).

Key Details

• Transaction date: May 21, 2026; Form 4 filed May 26, 2026 (five days after the transaction; typically Form 4s are due within 2 business days).
• Conversion: 1,500 phantom units; 1,219 shares acquired at $0.00 (conversion), 281 units converted to cash (tax withholding) — 281 shares shown as disposed at $16.47 each = $4,628.
• Shares owned after transaction: at least 1,279.539 shares (1,219 newly converted shares plus 60.539 shares held in Mr. Losyev’s self‑directed rollover IRA; 7.695 of those IRA shares were acquired via dividend reinvestment since March 28, 2024).
• Footnotes: F1 explains the split conversion (1,219 to stock, 281 to cash) and that the units relate to a previously reported five‑year phantom stock grant (reported 4/30/2025). F3 notes each phantom unit equals one share of Armour common stock.

Context

• This was a conversion of vested phantom stock (a type of deferred compensation tied to stock value), not an open‑market purchase or sale driven by immediate trading decisions. The 281‑unit cash conversion was solely to satisfy tax withholding obligations (a common practice). The filing date is later than the normal 2‑business‑day Form 4 deadline.