Armour REIT director gains 1,900 shares from award

Armour Residential REIT, Inc. (ARR) director Z Jamie Behar reported an internal equity compensation event involving vested phantom stock.

Rhea-AI Filing Summary

Armour Residential REIT, Inc. (ARR) director Z Jamie Behar reported an internal equity compensation event involving vested phantom stock. On August 21, 2026, Behar exercised 1,900 units of phantom stock, each economically equivalent to one ARR common share, converting them into 1,900 shares of common stock. Following the transaction, Behar directly held 17,344 common shares and 28,354 phantom stock units. The phantom stock units relate to awards vesting over five years previously reported on prior Form 4 filings.

Insider Trade Summary

1,900 shares exercised/converted

Exercise 2 txns

Insider Behar Z Jamie

Role Director

Type	Security	Shares	Price	Value
Exercise	Phantom Stock F2, F1	1,900	$0.00	$0.00
Exercise	Common Stock, par value $0.001 per share F1	1,900	$0.00	$0.00

Holdings After Transaction: Phantom Stock — 28,354 contracts (Direct); Common Stock, par value $0.001 per share — 17,344 shares (Direct)

Footnotes (2)

1. 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 a five-year period, which was reported on Form 4 reports filed by the reporting person on February 14, 2023, December 18, 2025 and May 21, 2026.
2. F2. Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.

Key Figures

Phantom stock units converted: 1,900 units Common shares acquired from conversion: 1,900 shares Common stock holdings after transaction: 17,344 shares +3 more

6 metrics

Phantom stock units converted 1,900 units Vested phantom stock converted on August 21, 2026

Common shares acquired from conversion 1,900 shares ARR common stock received from phantom stock conversion on August 21, 2026

Common stock holdings after transaction 17,344 shares Direct ARR common shares held by Z Jamie Behar following the August 21, 2026 transaction

Phantom stock units remaining after transaction 28,354 units Direct phantom stock units held after the August 21, 2026 conversion

Transaction price per share $0.00 per share Reported for both the phantom stock derivative and resulting common stock on August 21, 2026

Exercise transactions 1 exercise; 1,900 shares Summary of derivative exercises in this Form 4

Key Terms

phantom stock, economic equivalent, vested phantom stock

3 terms

phantom stock financial

"elected to convert 1,900 shares of vested phantom stock into 1,900 shares"

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

"convert 1,900 shares of vested phantom stock into 1,900 shares"

FAQ

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

What insider transaction did ARR director Z Jamie Behar report on this Form 4?

Z Jamie Behar reported exercising 1,900 units of phantom stock on August 21, 2026, converting them into 1,900 shares of Armour Residential REIT, Inc. common stock. Each phantom stock unit is the economic equivalent of one common share.

How many ARR common shares does Z Jamie Behar hold after this transaction?

After the August 21, 2026 conversion, Z Jamie Behar directly holds 17,344 shares of Armour Residential REIT, Inc. common stock, as reported in the Form 4 filing.

What happened to the phantom stock units in this ARR Form 4 filing?

On August 21, 2026, Z Jamie Behar converted 1,900 vested phantom stock units into 1,900 ARR common shares. These units are part of a phantom stock award vesting over five years that had been disclosed in earlier Form 4 reports.

What is the economic relationship between ARR phantom stock and common stock?

Each unit of phantom stock reported by Armour Residential REIT, Inc. is described as the economic equivalent of one share of ARR common stock, meaning its value tracks the value of a single common share.

Does this ARR Form 4 indicate any open-market buying or selling by Z Jamie Behar?

No. The Form 4 reports a conversion of 1,900 phantom stock units into 1,900 common shares at a reported price of $0.00 per share, reflecting an equity award conversion rather than an open-market purchase or sale.

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

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Available on EDGAR 08/25/2026 - 04:26 PM EDT Accepted by SEC EDGAR 08/25/2026 - 04:26 PM EDT 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^*

Behar Z Jamie

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2026

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
Common Stock, par value $0.001 per share	08/21/2026		M(1)		1,900	A	$0	17,344	D

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	(2)	08/21/2026		M			1,900	(1)	(1)	Common Stock	1,900	$0	28,354	D

Explanation of Responses:

1. 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 a five-year period, which was reported on Form 4 reports filed by the reporting person on February 14, 2023, December 18, 2025 and May 21, 2026.

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

Remarks:

	/s/ Z. Jamie Behar	08/25/2026
	** 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)