Director Carolyn Downey's Phantom Stock Conversion at Armour Residential REIT

This Form 4 filing reports director Carolyn Downey's transactions involving phantom stock conversion at Armour Residential REIT, Inc. (ARR). On May 21, 2026, Downey converted 1,900 shares of vested phantom stock into common stock and cash. Specifically, 950 shares were converted into 950 shares of ARMOUR common stock, while the remaining 950 shares were converted into cash at $16.47 per share to cover income taxes on the vested stock. Following these transactions, Downey's direct holdings increased to 27,874 shares of common stock and she holds 30,254 units of phantom stock. The phantom stock represents the economic equivalent of common shares and was part of a five-year vesting schedule previously reported in Form 4 filings from 2023 and 2025.