Annaly (NLY) CEO sells 50,000 shares at $21.16; holds 709,725

Annaly Capital Management (NLY) CEO and Co‑CIO David L. Finkelstein reported a sale of 50,000 shares of common stock on 11/03/2025 at a weighted average price of $21.16, with trade prices ranging from $20.93 to $21.34.

Rhea-AI Filing Summary

Annaly Capital Management (NLY) CEO and Co‑CIO David L. Finkelstein reported a sale of 50,000 shares of common stock on 11/03/2025 at a weighted average price of $21.16, with trade prices ranging from $20.93 to $21.34. Following the transaction, he beneficially owns 709,725 shares directly.

The transaction was made pursuant to a Rule 10b5‑1 plan adopted on May 16, 2024 for tax and estate planning purposes. The holding balance includes dividend equivalent units (DEUs), each economically equivalent to one share and payable in one share for each whole DEU.

Insider Trade Summary

Net Seller: 50,000 shares

Net Sell 1 txn

Insider Finkelstein David L

Role CEO and Co-CIO

Sold 50,000 shs ($1.06M)

Type	Security	Shares	Price	Value
Sale	Common Stock	50,000	$21.16	$1.06M

Holdings After Transaction: Common Stock — 709,725 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 May 16, 2024 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 $21.34 and the lowest price at which the shares were purchased was $20.93. 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.

FAQ

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

What did Annaly (NLY) report in this Form 4?

CEO and Co‑CIO David L. Finkelstein reported selling 50,000 shares of common stock on 11/03/2025.

At what price were the NLY shares transacted?

The weighted average price was $21.16, with individual trades between $20.93 and $21.34.

How many NLY shares does the reporting person hold after the trade?

He beneficially owns 709,725 shares directly after the transaction.

Was the NLY transaction under a Rule 10b5‑1 plan?

Yes. It was made under a Rule 10b5‑1 plan adopted on May 16, 2024 for tax and estate planning purposes.

Who is the reporting person in this NLY filing?

The reporting person is David L. Finkelstein, CEO and Co‑CIO of Annaly Capital Management.

Do holdings include dividend equivalent units (DEUs)?

Yes. The balance includes DEUs, each economically equivalent to one share and payable in one share for each whole DEU.

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

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Accepted by SEC EDGAR 11/04/2025 - 04:15 PM EST 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).

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 NY 10036

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2025

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

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

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

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	11/03/2025		S		50,000(1)	D	$21.16(2)	709,725(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 May 16, 2024 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 $21.34 and the lowest price at which the shares were purchased was $20.93. 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/ Anthony C. Green, as Attorney-in-Fact for David L. Finkelstein	11/04/2025
	** 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.