Annaly Capital CEO David L. Finkelstein sells 48,223 shares

The plan was adopted November 12, 2025, for tax and estate planning purposes.

Available on EDGAR 11/03/2026 - 04:16 PM EST Accepted by SEC EDGAR 11/03/2026 - 04:15 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Annaly Capital Management Inc. CEO and Co-CIO David L. Finkelstein sold 48,223 common shares on November 2, 2026, at a reported weighted-average price of $18.43 per share. The sale was made under a Rule 10b5-1 plan. His reported common-stock holdings after the transaction were 731,267 shares, including dividend equivalent units issued on restricted unit awards.

Insider Trade Summary 10b5-1

Net Seller: 48,223 shares

Net Sell 1 txn

Insider Finkelstein David L

Role CEO and Co-CIO

Sold 48,223 shs ($889K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2, F3	48,223	$18.43	$889K

Holdings After Transaction: Common Stock — 731,267 shares (Direct)

Footnotes (3)

1. F1. The sale of shares of common stock reported in this Form 4 was effected pursuant to a Rule 10b5-1 plan adopted November 12, 2025 for tax and estate planning purposes.
2. F2. The price reported above reflects the weighted average purchase price, rounded to the nearest hundredth. The highest price at which the shares were purchased was $18.54 and the lowest price at which the shares were purchased was $18.27. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote in this Form 4.
3. F3. Dividend equivalent units ("DEUs") issued on restricted unit awards are included in the reporting person's common stock holding balance. Each DEU is the economic equivalent of one share of common stock of Annaly Capital Management, Inc. and payable in one share for each whole DEU.

Key Figures

Common shares sold: 48,223 shares Reported weighted-average price: $18.43 per share Common-stock holdings after transaction: 731,267 shares +1 more

4 metrics

Common shares sold 48,223 shares Sale on November 2, 2026

Reported weighted-average price $18.43 per share Sale on November 2, 2026

Common-stock holdings after transaction 731,267 shares Includes dividend equivalent units issued on restricted unit awards

Rule 10b5-1 plan adoption November 12, 2025 Plan stated to be for tax and estate planning purposes

Key Terms

Rule 10b5-1 plan, dividend equivalent units, restricted unit awards

3 terms

Rule 10b5-1 plan regulatory

"pursuant to a Rule 10b5-1 plan"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

dividend equivalent units financial

"Dividend equivalent units ("DEUs") issued on restricted unit awards"

Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.

restricted unit awards financial

"DEUs issued on restricted unit awards"

FAQ

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How many NLY shares did CEO David L. Finkelstein sell and at what price?

David L. Finkelstein, Annaly Capital Management Inc.'s CEO and Co-CIO, sold 48,223 common shares on November 2, 2026, at a reported weighted-average price of $18.43 per share. The sale was made under a Rule 10b5-1 plan adopted November 12, 2025, for tax and estate planning purposes.

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

Form 4 Insider Transactions: What Each Field Means →

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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).

X

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^*

Finkelstein David L

(Last) (First) (Middle)

C/O ANNALY CAPITAL MANAGEMENT, INC.

1211 AVENUE OF THE AMERICAS

(Street)

NEW YORK NEW YORK 10036

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ANNALY CAPITAL MANAGEMENT INC [ NLY ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Co-CIO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/02/2026

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	11/02/2026		S		48,223(1)	D	$18.43(2)	731,267(3)	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

Explanation of Responses:

1. The sale of shares of common stock reported in this Form 4 was effected pursuant to a Rule 10b5-1 plan adopted November 12, 2025 for tax and estate planning purposes.

2. The price reported above reflects the weighted average purchase price, rounded to the nearest hundredth. The highest price at which the shares were purchased was $18.54 and the lowest price at which the shares were purchased was $18.27. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote in this Form 4.

3. Dividend equivalent units ("DEUs") issued on restricted unit awards are included in the reporting person's common stock holding balance. Each DEU is the economic equivalent of one share of common stock of Annaly Capital Management, Inc. and payable in one share for each whole DEU.

Remarks:

	/s/ Serena Wolfe, as Attorney-in-Fact for David L. Finkelstein	11/03/2026
	** 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)