Armour REIT director converts 2,380 phantom units to stock
Armour Residential REIT, Inc. (ARR) director Marc H. Bell converted previously granted phantom stock into common shares.
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Form Type
4
Rhea-AI Filing Summary
Armour Residential REIT, Inc. (ARR) director Marc H. Bell converted previously granted phantom stock into common shares. On August 21, 2026 he elected to convert 1,900 vested phantom stock units into 1,900 shares of common stock and 480 vested phantom stock units into 480 common shares; each phantom unit is the economic equivalent of one common share, and the conversions were reported at a per-share price of $0.00.
Insider Trade Summary
2,380 shares exercised/converted
Exercise
4 txns
Insider
BELL MARC H
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock F3, F1 | 1,900 | $0.00 | $0.00 |
| Exercise | Phantom Stock F3, F2 | 480 | $0.00 | $0.00 |
| Exercise | Common Stock, par value $0.001 per share F1 | 1,900 | $0.00 | $0.00 |
| Exercise | Common Stock, par value $0.001 per share F2 | 480 | $0.00 | $0.00 |
Holdings After Transaction:
Phantom Stock — 29,864 contracts (Direct);
Common Stock, par value $0.001 per share — 31,161 shares (Direct)
Footnotes (3)
- F1. On August 21, 2026, the reporting person elected to convert 1,900 shares of vested phantom stock into 1,900 shares of ARMOUR common stock. The 1,900 shares are part of, and relate to, phantom stock vesting over five-year periods, which was reported on Form 4 reports filed by the reporting person on February 14, 2023, December 18, 2025 and May 21, 2026.
- F2. On August 21, 2026, the reporting person elected to convert 480 of the 480 shares of vested phantom stock into 480 shares of ARMOUR common stock. The 480 shares are part of, and relate to, phantom stock vesting over a six-and-half year periods, which was reported on Form 4 reports filed by the reporting person on January 14, 2021.
- F3. Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.
Key Figures
Phantom stock units converted (F1): 1,900 units
Phantom stock units converted (F2): 480 units
Common shares acquired from conversion (F1): 1,900 shares
+3 more
6 metrics
Phantom stock units converted (F1)
1,900 units
Vested phantom stock units converted into 1,900 common shares on August 21, 2026
Phantom stock units converted (F2)
480 units
Vested phantom stock units converted into 480 common shares on August 21, 2026
Common shares acquired from conversion (F1)
1,900 shares
Common Stock, par value $0.001 per share, acquired via conversion on August 21, 2026
Common shares acquired from conversion (F2)
480 shares
Common Stock, par value $0.001 per share, acquired via conversion on August 21, 2026
Total derivative exercises
2,380 units
ExerciseCount aggregate of phantom stock units converted, as summarized in the report
Reported transaction price per share
$0.00 per share
Price field for the exercises/conversions on August 21, 2026
Key Terms
phantom stock, economic equivalent, vested phantom stock, Exercise or conversion of derivative security
4 terms
phantom stock financial
"Each unit of phantom stock is the economic equivalent of one share"
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.
economic equivalent financial
"Each unit of phantom stock is the economic equivalent of one share"
vested phantom stock financial
"elected to convert 1,900 shares of vested phantom stock into 1,900 shares"
Exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did ARR director Marc H. Bell report on this Form 4?
Marc H. Bell reported converting phantom stock into common stock of Armour Residential REIT, Inc. On August 21, 2026 he converted 1,900 vested phantom stock units into 1,900 common shares and 480 vested phantom stock units into 480 common shares, all at a reported per-share price of $0.00.
What is the relationship between ARR phantom stock and common stock in this Form 4?
Each unit of phantom stock is the economic equivalent of one share of Armour Residential REIT common stock. In this report, 1,900 phantom units became 1,900 common shares and 480 phantom units became 480 common shares upon the reporting person’s election to convert.
Were Marc H. Bell’s ARR phantom stock conversions under a Rule 10b5-1 trading plan?
No. The report indicates the Rule 10b5-1 checkbox is not marked, and the footnotes describe elective conversions of vested phantom stock into common shares on August 21, 2026, without referencing any pre-arranged trading plan.
Do these ARR transactions represent open market purchases or sales?
No. The transactions are exercises/conversions of phantom stock into common stock, coded as “M” for derivative exercises. Phantom units were disposed of and an equal number of common shares were acquired, rather than common stock being bought or sold on the open market.
AI-generated analysis. How Rhea-AI works. Not financial advice.
