ADDED
The number of outstanding shares of the Registrant s common stock as of February 17, 2026 was 119,384,920 .
Form 10-K Summary 116 Signatures II- 1 PART I ARMOUR Residential REIT, Inc.
ARMOUR owns a 10.8% equity interest in BUCKLER Securities LLC ("BUCKLER"), a Delaware limited liability company and a FINRA-regulated broker-dealer, which is under common control with ACM.
The Company is managed by ACM, an investment advisor registered with the Securities and Exchange Commission ("SEC") (which registration the Company provides notice of to the state of Florida) (see Note 8 and Note 14 to the consolidated financial statements).
Assets At December 31, 2025, our investments in securities included mortgage backed securities ("MBS"), issued or guaranteed by a United States ("U.S.") Government-sponsored entity ("GSE"), such as the Federal National Mortgage Association ("Fannie Mae"), the Federal Home Loan Mortgage Corporation ("Freddie Mac"), or a government agency such as Government National Mortgage Administration ("Ginnie Mae") (collectively, "Agency Securities") and U.S.
Our investment in securities consists primarily of fixed rate loans.
Our borrowings (on a recourse basis) are generally between six and ten times the amount of our total ARMOUR Residential REIT, Inc.
Business 2 stockholders equity, but we are not limited to that range.
In addition, certain of our MRAs and ISDA agreements contain a restriction that prohibits our leverage from exceeding twelve times our total stockholders equity as well as termination events in the case of significant reductions in equity capital.
Management The Company is managed by ACM, pursuant to a management agreement (see Note 8 and Note 14 to the consolidated financial statements).
REMOVED
The number of outstanding shares of the Registrant s common stock as of February 11, 2025 was 76,414,932 .
ARMOUR owns a 10.8% equity interest in BUCKLER Securities LLC ("BUCKLER"), a Delaware limited liability company and a FINRA-regulated broker-dealer, controlled by ACM.
The Company is managed by ACM, an investment advisor registered with the Securities and Exchange Commission ("SEC") (which registration the Company provides notice of to the state of Florida), (see Note 9 and Note 15 to the consolidated financial statements).
Assets At December 31, 2024 and December 31, 2023, we invested in mortgage backed securities ("MBS"), issued or guaranteed by a United States ("U.S.") Government-sponsored entity ("GSE"), such as the Federal National Mortgage Association ("Fannie Mae"), the Federal Home Loan Mortgage Corporation ("Freddie Mac"), or a government agency such as Government National Mortgage Administration ("Ginnie Mae") (collectively, "Agency Securities").
Our borrowings (on a recourse basis) are generally between six and ten times the amount of our total stockholders equity, but we are not limited to that range.
In addition, certain of our MRAs and ISDAs contain a restriction that prohibits our ARMOUR Residential REIT, Inc.
Business (continued) 2 leverage from exceeding twelve times our total stockholders equity as well as termination events in the case of significant reductions in equity capital.
Management The Company is managed by ACM, pursuant to a management agreement (see Note 9 and Note 15 to the consolidated financial statements).
At December 31, 2024, December 31, 2023 and December 31, 2022, the effective management fee was 0.92%, 0.93% and 0.95% prior to management fees waived, and 0.77%, 0.77% and 0.74%, after management fees waived, based on gross equity raised of $4,498,880, $4,231,965 and $3,787,042, respectively and effectively a rate of 3.03%, 3.09% and 3.23% based on total stockholders' equity.
Business (continued) 3 During the years ended December 31, 2024, December 31, 2023 and December 31, 2022 ACM voluntarily waived management fees of $6,600, $6,600 and $7,800 respectively.