AGM/EGMApr 30, 2026, 04:30 PM
ARMOUR Stockholders Approve New Stock Incentive Plan, Adds 1M Shares
AI Summary
ARMOUR Residential REIT, Inc. stockholders approved the Fourth Amended and Restated 2009 Stock Incentive Plan at its Annual Meeting on April 30, 2026. This plan increases the number of shares authorized for issuance by 1,000,000 and adjusts individual award limits to reflect a prior reverse stock split. Additionally, stockholders elected eight directors to the Board and ratified Deloitte & Touche LLP as independent auditors for fiscal year 2026.
Key Highlights
- Stockholders approved the Fourth Amended and Restated 2009 Stock Incentive Plan.
- The plan increases authorized shares for issuance by 1,000,000.
- Individual award limits lowered from 750,000 to 150,000 shares, reflecting a 1-for-5 reverse split.
- Eight directors were elected to ARMOUR's Board until the 2027 annual meeting.
- Deloitte & Touche LLP was ratified as independent auditors for fiscal year 2026.
- A quorum of 83,300,043 shares (67.85% of outstanding) was present at the Annual Meeting.
- The Fourth A&R Plan establishes a ten-year term, terminating April 29, 2036.
- A clawback provision was added to the Fourth A&R Plan.
Price Impact
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