Two Harbors (NYSE: TWO) EVP James Campbell receives 24,089 RSU grant

Rhea-AI Filing Summary

Two Harbors Investment Corp. executive James D. Campbell received an equity grant of 24,089 restricted stock units (RSUs). The RSUs were awarded for no cash consideration under the Two Harbors Investment Corp. 2021 Equity Incentive Plan and relate to the company’s common stock.

The underlying common shares will vest in three equal annual installments on January 7, 2027, 2028, and 2029, subject to certain exceptions. Following this grant, Campbell beneficially owns 38,748 shares of common stock in total on a direct basis.

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

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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^*

Campbell James D

(Last) (First) (Middle)

TWO HARBORS INVESTMENT CORP.

1601 UTICA AVENUE SOUTH, SUITE 900

(Street)

ST. LOUIS PARK MN 55416

(City) (State) (Zip)

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)
	EVP Servicing Ops RoundPoint

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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, par value $0.01 per share	01/07/2026		A		24,089(1)	A	$0	38,748	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. Represents restricted stock units ("RSUs") granted to the reporting person under the Two Harbors Investment Corp. 2021 Equity Incentive Plan. The RSUs were received as a grant for no consideration. The common stock underlying the RSUs will vest, subject to certain exceptions, in equal installments on January 7, 2027, 2028 and 2029.

Remarks:

	/s/ James D. Campbell	01/09/2026
	** 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.

FAQ

What insider transaction did Two Harbors (TWO) report for James D. Campbell?

James D. Campbell, EVP Servicing Ops RoundPoint at Two Harbors Investment Corp., reported receiving a grant of 24,089 restricted stock units (RSUs) of common stock.

How many Two Harbors (TWO) shares does James D. Campbell hold after this grant?

After the reported RSU grant, James D. Campbell beneficially owns 38,748 shares of Two Harbors common stock directly.

What is the vesting schedule for James D. Campbell’s 24,089 RSUs at Two Harbors (TWO)?

The 24,089 RSUs will vest in three equal installments on January 7, 2027, 2028, and 2029, subject to certain exceptions.

Did James D. Campbell pay for the Two Harbors (TWO) RSUs he received?

No. The filing states the RSUs were received as a grant for no consideration under the Two Harbors Investment Corp. 2021 Equity Incentive Plan.

What type of security was involved in this Two Harbors (TWO) insider grant?

The grant involved restricted stock units (RSUs) linked to Two Harbors’ common stock, par value $0.01 per share.

What is James D. Campbell’s role at Two Harbors Investment Corp. (TWO)?

James D. Campbell is reported as an officer of Two Harbors Investment Corp., with the title EVP Servicing Ops RoundPoint.