ARR CEO converts phantom stock into 6,528 shares
Armour Residential REIT, Inc. (ARR) CEO Scott Ulm reported transactions involving 10,880 units of phantom stock, each economically equivalent to one share of common stock.
Rhea-AI Filing Summary
Armour Residential REIT, Inc. (ARR) CEO Scott Ulm reported transactions involving 10,880 units of phantom stock, each economically equivalent to one share of common stock. On August 21, 2026, he converted 6,528 phantom units into the same number of common shares and converted the remaining 4,352 units into cash solely to pay income taxes on the vested stock, reflected as a Code F disposition of 4,352 shares at $16.32 per share. After these actions, he held 172,610 phantom stock units directly.
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Insider Trade Summary
10,880 shares exercised/converted
Exercise
3 txns
Insider
ULM SCOTT
Role
CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Phantom Stock F2, F1 | 10,880 | $0.00 | $0.00 |
| Exercise | Common Stock, par value $0.001 per share F1 | 10,880 | $0.00 | $0.00 |
| Tax Withholding | Common Stock, par value $0.001 per share F1 | 4,352 | $16.32 | $71K |
Holdings After Transaction:
Phantom Stock — 172,610 contracts (Direct);
Common Stock, par value $0.001 per share — 83,386 shares (Direct)
Footnotes (2)
- F1. On August 21, 2026, the reporting person elected to convert 6,528 of the 10,880 shares of vested phantom stock into 6,528 shares of ARMOUR common stock. The reporting person elected to convert the remaining 4,352 shares of vested phantom stock into cash solely to pay income taxes on the vested stock. The 10,880 shares are part of, and relate to phantom stock vesting over a six-and-a-half year period, which was reported on a Form 4 report filed by the reporting person on January 14, 2021, phantom stock vesting over a seven-year period, which was reported on a Form 4 report filed by the reporting person on February 16, 2023, and phantom stock vesting over a five-year period, which was reported on a Form 4 report filed by the reporting person on June 18, 2026.
- F2. Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.
Key Figures
Phantom stock units exercised: 10,880 units
Common shares acquired: 6,528 shares
Shares delivered/withheld for taxes: 4,352 shares
+2 more
5 metrics
Phantom stock units exercised
10,880 units
Total vested phantom stock units converted on August 21, 2026
Common shares acquired
6,528 shares
Shares of common stock received from phantom stock conversion on August 21, 2026
Shares delivered/withheld for taxes
4,352 shares
Code F disposition to pay income taxes on vested phantom stock
Tax-related transaction price
$16.32 per share
Price for 4,352 shares used to pay income tax liability
Phantom stock holdings after transaction
172,610 units
Directly held phantom stock units following August 21, 2026 transactions
Key Terms
phantom stock, economic equivalent, tax liability, Code F disposition
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"
tax liability financial
"into cash solely to pay income taxes on the vested stock"
Code F disposition financial
"representing shares delivered or withheld solely to pay income taxes"
FAQ
What insider transaction did ARR CEO Scott Ulm report on August 21, 2026?
Scott Ulm reported the exercise of 10,880 units of phantom stock. He converted 6,528 units into common shares of Armour Residential REIT, Inc. (ARR) and converted 4,352 units into cash to cover income taxes on the vested stock.
What does the phantom stock in ARR’s Form 4 represent for Scott Ulm?
Each unit of phantom stock is the economic equivalent of one share of Armour Residential REIT, Inc. (ARR) common stock. Ulm’s 10,880 phantom units converted were part of longer-term vesting awards reported in prior Form 4 filings.
How many phantom stock units does Scott Ulm hold after these ARR transactions?
Following the August 21, 2026 transactions, Scott Ulm held 172,610 units of phantom stock directly. Each phantom unit is economically equivalent to one share of Armour Residential REIT, Inc. (ARR) common stock.
AI-generated analysis. How Rhea-AI works. Not financial advice.
