Armour Residential CEO granted 150,000 phantom units

ULM SCOTT reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

ULM SCOTT reported acquisition or exercise transactions in this Form 4 filing.

Armour Residential REIT CEO Scott Ulm received a compensation grant of 150,000 units of phantom stock. Each unit is the economic equivalent of one share of Armour common stock. The award was granted under the company’s Fourth Amended and Restated 2009 Stock Incentive Plan.

The phantom stock vests on a time-based schedule: 7,500 units will vest on each of August 20, November 20, February 20, and May 20 through May 20, 2031. Within 30 days after each vesting date, Ulm will receive an equal number of Armour common shares. Following this grant, he holds 183,490 phantom stock units directly.

Insider Trade Summary

Grant/Award: 150,000 shares

Grant/Award 1 txn

Insider ULM SCOTT

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock	150,000	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 183,490 contracts (Direct)

Footnotes (2)

1. F1. Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.
2. F2. On June 16, 2026, the reporting person was granted an aggregate of 150,000 phantom shares under ARMOUR Residential REIT, Inc.'s ("ARMOUR") Fourth Amended and Restated 2009 Stock Incentive Plan (the "Plan") pursuant to the time-based vesting schedule described as follows: 7,500 phantom shares will vest on each of August 20, November 20, February 20, and May 20, through May 20, 2031, at which time all phantom stock shall have vested. Upon vesting, the reporting person will be entitled to an equal number of shares of ARMOUR common stock within 30 days.

Key Figures

Phantom stock grant: 150,000 units Post-grant phantom holdings: 183,490 units Quarterly vesting tranche: 7,500 units +2 more

5 metrics

Phantom stock grant 150,000 units Granted on June 16, 2026 to CEO Scott Ulm

Post-grant phantom holdings 183,490 units Total phantom stock units held after the award

Quarterly vesting tranche 7,500 units Vest each August 20, November 20, February 20 and May 20

Vesting end date May 20, 2031 Date by which all phantom stock will have vested

Settlement window Within 30 days Time to deliver common stock after each vesting

Key Terms

Phantom Stock, time-based vesting schedule, Stock Incentive Plan, economic equivalent

4 terms

Phantom Stock financial

"Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

time-based vesting schedule financial

"pursuant to the time-based vesting schedule described as follows: 7,500 phantom shares will vest on each of August 20, November 20, February 20, and May 20"

Stock Incentive Plan financial

"under ARMOUR Residential REIT, Inc.'s ("ARMOUR") Fourth Amended and Restated 2009 Stock Incentive Plan (the "Plan")"

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

economic equivalent financial

"Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Armour Residential REIT (ARR) report for CEO Scott Ulm?

Armour Residential REIT reported that CEO Scott Ulm received a grant of 150,000 phantom stock units. This is a compensation award, not an open-market purchase or sale, and increases his directly held phantom stock position to 183,490 units.

What is phantom stock in the Armour Residential REIT (ARR) Form 4 filing?

In this filing, each unit of phantom stock is the economic equivalent of one share of Armour common stock. The phantom units convert into an equal number of common shares within 30 days after they vest under the company’s stock incentive plan.

How does the 150,000 phantom stock grant to Armour Residential REIT (ARR) CEO vest?

The 150,000 phantom stock units vest over time, with 7,500 units vesting on each of August 20, November 20, February 20, and May 20. This schedule continues through May 20, 2031, spreading the vesting over multiple years.

When will Armour Residential REIT (ARR) CEO receive common shares from this phantom stock grant?

Upon each vesting date, CEO Scott Ulm will be entitled to receive an equal number of Armour common shares within 30 days. This means vested phantom stock units are settled in common stock relatively soon after each vesting event.

How many phantom stock units does Armour Residential REIT (ARR) CEO hold after this grant?

After the grant of 150,000 phantom stock units, CEO Scott Ulm holds a total of 183,490 phantom stock units directly. These units are tied to future delivery of Armour common shares as they vest over time under the plan.

Is the Armour Residential REIT (ARR) CEO’s phantom stock grant an open-market stock purchase?

No, the 150,000 phantom stock units reported are a grant under Armour’s stock incentive plan. It is a compensation-related award, not an open-market purchase or sale of existing shares on a securities exchange.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/18/2026 - 04:03 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ULM SCOTT

(Last) (First) (Middle)

3001 OCEAN DRIVE

SUITE #201

(Street)

VERO BEACH FLORIDA 32963

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Armour Residential REIT, Inc. [ ARR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(1)	06/16/2026		A		150,000		(2)	(2)	Common Stock	150,000	$0	183,490	D

Explanation of Responses:

1. Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.

2. On June 16, 2026, the reporting person was granted an aggregate of 150,000 phantom shares under ARMOUR Residential REIT, Inc.'s ("ARMOUR") Fourth Amended and Restated 2009 Stock Incentive Plan (the "Plan") pursuant to the time-based vesting schedule described as follows: 7,500 phantom shares will vest on each of August 20, November 20, February 20, and May 20, through May 20, 2031, at which time all phantom stock shall have vested. Upon vesting, the reporting person will be entitled to an equal number of shares of ARMOUR common stock within 30 days.

Remarks:

	/s/ Scott J. Ulm	06/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)