Two Harbors CAO cashed out 18,833 shares at $12

TWO HARBORS INVESTMENT CORP.

Rhea-AI Filing Summary

TWO HARBORS INVESTMENT CORP. (TWO) reported that Chief Accounting Officer Jillian Halm disposed of 18,833 shares of common stock in a disposition to the issuer on 2026-08-25 at $12.00 per share. The transaction occurred in connection with the CCM Merger, in which each share of TWO common stock was cancelled and converted into the right to receive $12.00 in cash, and each restricted stock unit was similarly cancelled for the same cash consideration. Following this transaction, Halm reported 0 shares of directly held common stock.

Insider Trade Summary

Disposition: 18,833 shares

Disposition 1 txn

Insider Halm Jillian

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Disposition	Common stock, par value $0.01 per share F1, F2	18,833	$12.00	$226K

Holdings After Transaction: Common stock, par value $0.01 per share — 0 shares (Direct)

Footnotes (2)

1. F1. Pursuant to the Agreement and Plan of Merger (as amended, the "CCM Merger Agreement"), dated March 27, 2026, by and among Two Harbors Investment Corp. ("TWO"), CrossCountry Intermediate Holdco, LLC ("CCM") and CrossCountry Merger Corp., a wholly owned subsidiary of CCM ("Merger Sub"), Merger Sub merged with and into TWO, with TWO surviving the merger as a wholly owned subsidiary of CCM (the "CCM Merger"). At the effective time of the CCM Merger (the "Effective Time"), each share of TWO's common stock ("TWO Common Stock") that was issued and outstanding immediately prior to the Effective Time was automatically cancelled and converted into the right to receive $12.00 in cash (the "CCM Merger Consideration").
2. F2. Pursuant to the CCM Merger Agreement, at the Effective Time, each TWO restricted stock unit that was outstanding as of immediately prior to the Effective Time, whether vested or unvested, was automatically cancelled and converted into the right to receive the CCM Merger Consideration with respect to each share of TWO Common Stock.

Key Figures

Shares disposed: 18,833 shares Disposition price per share: $12.00 per share Shares held after transaction: 0 shares +1 more

4 metrics

Shares disposed 18,833 shares Disposition to issuer by Chief Accounting Officer on 2026-08-25

Disposition price per share $12.00 per share Cash consideration per share under CCM Merger Consideration

Shares held after transaction 0 shares Directly held TWO common stock reported after disposition

CCM Merger Consideration $12.00 in cash per share Each share of TWO common stock cancelled and converted at effective time

Key Terms

Agreement and Plan of Merger, CCM Merger Consideration, restricted stock unit, Disposition to issuer

4 terms

Agreement and Plan of Merger regulatory

"Pursuant to the Agreement and Plan of Merger (as amended, the "CCM Merger Agreement")"

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

CCM Merger Consideration financial

"converted into the right to receive $12.00 in cash (the "CCM Merger Consideration")"

restricted stock unit financial

"each TWO restricted stock unit that was outstanding as of immediately prior"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Disposition to issuer financial

"transaction_action": "issuer disposition", "transaction_code_description": "Disposition to issuer""

FAQ

What did TWO (TWO HARBORS INVESTMENT CORP.) insider Jillian Halm report on this Form 4?

Jillian Halm, Chief Accounting Officer of TWO, reported a disposition to the issuer of 18,833 shares of common stock at $12.00 per share on 2026-08-25, in connection with the closing of the CCM Merger, leaving her with 0 directly held shares.

How is the CCM Merger related to this TWO (TWO) insider transaction?

The transaction stems from the CCM Merger, under which each share of TWO common stock outstanding immediately before the effective time was automatically cancelled and converted into the right to receive $12.00 in cash, causing the reported disposition to the issuer.

What consideration did TWO (TWO) shareholders receive in the CCM Merger?

Under the CCM Merger Agreement, each share of TWO common stock outstanding immediately prior to the effective time was converted into the right to receive $12.00 in cash, referred to as the CCM Merger Consideration.

What happened to restricted stock units of TWO (TWO) in the CCM Merger?

At the effective time of the CCM Merger, each TWO restricted stock unit, whether vested or unvested, was automatically cancelled and converted into the right to receive $12.00 in cash for each underlying share of TWO common stock.

Does Jillian Halm hold any TWO (TWO) common stock after this Form 4 transaction?

After the reported disposition to the issuer of 18,833 shares at $12.00 per share, Jillian Halm reported 0 shares of directly held TWO common stock following the transaction.

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Available on EDGAR 08/25/2026 - 04:55 PM Accepted by SEC EDGAR 08/25/2026 - 04:55 PM 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

X

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^*

Halm Jillian

(Last) (First) (Middle)

TWO HARBORS INVESTMENT CORP.

1601 UTICA AVENUE SOUTH, SUITE 900

(Street)

ST. LOUIS PARK MINNESOTA 55416

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TWO HARBORS INVESTMENT CORP. [ TWO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2026

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 $0.01 per share	08/25/2026		D		18,833(1)(2)	D	$12(1)	0	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. Pursuant to the Agreement and Plan of Merger (as amended, the "CCM Merger Agreement"), dated March 27, 2026, by and among Two Harbors Investment Corp. ("TWO"), CrossCountry Intermediate Holdco, LLC ("CCM") and CrossCountry Merger Corp., a wholly owned subsidiary of CCM ("Merger Sub"), Merger Sub merged with and into TWO, with TWO surviving the merger as a wholly owned subsidiary of CCM (the "CCM Merger"). At the effective time of the CCM Merger (the "Effective Time"), each share of TWO's common stock ("TWO Common Stock") that was issued and outstanding immediately prior to the Effective Time was automatically cancelled and converted into the right to receive $12.00 in cash (the "CCM Merger Consideration").

2. Pursuant to the CCM Merger Agreement, at the Effective Time, each TWO restricted stock unit that was outstanding as of immediately prior to the Effective Time, whether vested or unvested, was automatically cancelled and converted into the right to receive the CCM Merger Consideration with respect to each share of TWO Common Stock.

	/s/ Jillian Halm	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)