Armour Residential REIT, Inc. - Insider Transaction

Carolyn Downey, a director at Armour Residential REIT, Inc., was granted 17,140 phantom shares under the company's stock incentive plan. These shares will vest over a five-year period, with a portion vesting quarterly starting May 20, 2026, and fully vesting by February 20, 2031. Upon vesting, Downey will receive an equal number of common shares. The grant includes provisions for accelerated vesting upon death, disability, or change in control, and forfeiture upon termination of service. Downey also has the option to elect stock in lieu of cash dividends and to have taxes withheld by reducing the number of shares received. Each phantom share is economically equivalent to one common share.