0001428205-23-000046.txt : 20230216 0001428205-23-000046.hdr.sgml : 20230216 20230216171946 ACCESSION NUMBER: 0001428205-23-000046 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230214 FILED AS OF DATE: 20230216 DATE AS OF CHANGE: 20230216 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: ULM SCOTT CENTRAL INDEX KEY: 0001469064 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34766 FILM NUMBER: 23639407 MAIL ADDRESS: STREET 1: 3005 HAMMOCK WAY CITY: VERO BEACH STATE: FL ZIP: 32963 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Armour Residential REIT, Inc. CENTRAL INDEX KEY: 0001428205 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 261908763 FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 3001 OCEAN DRIVE STREET 2: SUITE 201 CITY: VERO BEACH STATE: FL ZIP: 32963 BUSINESS PHONE: (772) 617-4340 MAIL ADDRESS: STREET 1: 3001 OCEAN DRIVE STREET 2: SUITE 201 CITY: VERO BEACH STATE: FL ZIP: 32963 4 1 wf-form4_167658596912293.xml FORM 4 X0306 4 2023-02-14 0 0001428205 Armour Residential REIT, Inc. ARR 0001469064 ULM SCOTT 3001 OCEAN DRIVE SUITE #201 VERO BEACH FL 32963 1 1 0 0 Co-CEO Phantom Stock 2023-02-14 4 A 0 280000 0 A Common Stock 280000.0 444050 D The reporting person was granted an aggregate of 280,000 phantom shares under ARMOUR Residential REIT, Inc.'s ("ARMOUR") Second Amended and Restated 2009 Stock Incentive Plan pursuant to the time-based vesting schedule described as follows. 10,000 phantom shares will vest on February 20, 2023 with an additional 10,000 phantom shares vesting on each following May 20, August 20, November 20 and February 20, through November 20, 2029, at which time all phantom stock shall have vested. Upon vesting, the reporting person will be entitled to an equal number of shares of ARMOUR common stock within 30 days. Upon ARMOUR Capital Management LP, ARMOUR's manager ("Manager") voluntarily terminating its services with ARMOUR pursuant to the management agreement between ARMOUR and the Manager ("Management Agreement"), or ARMOUR terminating the Management Agreement for cause, the reporting person shall forfeit all unvested phantom stock. The reporting person's unvested phantom stock will automatically fully vest upon the reporting person's termination with ARMOUR due to death, disability, or the earlier of ARMOUR terminating the Management Agreement without cause or notice by ARMOUR of terminating the Management Agreement without cause. If the reporting person is terminated by ARMOUR without cause or for good reason, his unvested phantom stock will continue to vest in accordance with the schedule described in this report, subject to satisfactory continuing fulfillment of certain conditions and related tax consequences and risks specified in the reporting person's grant agreement. In the event of a resignation or retirement, provided the sum of the reporting person's age and years of service is equal to or greater than 70, the reporting person will retain his or her unvested stock awards which will remain subject to the vesting schedule set forth in this report, subject to satisfactory continuing fulfillment of certain conditions and related tax consequences and risks specified in the reporting person's grant agreement. The reporting person also has the right to elect to have withholding taxes or a portion thereof, as the case may be, satisfied by reducing the number of shares of common stock to be issued to the reporting person by some or all of such shares. With respect to each phantom share, the reporting person will receive a cash payment in an amount equal to the cash dividend distributions paid in the ordinary course on a share of ARMOUR common stock. The reporting person also has the right to elect in lieu of the cash dividend payment a number of shares of common stock equal to the dividend payment payable divided by the fair market value of a share of ARMOUR common stock on the date of the dividend payment. Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock. /s/ Scott J. Ulm 2023-02-16