Stock Based Compensation |
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Jun. 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Stock Based Compensation | Note 9 - Stock Based Compensation We adopted the Plan to attract, retain and reward directors and other persons who provide services to us in the course of operations. The Plan authorizes the Board to grant awards including common stock, restricted shares of common stock (“RSUs”), stock options, performance shares, performance units, stock appreciation rights and other equity and cash-based awards (collectively, “Awards”), subject to terms as provided in the Plan. At June 30, 2025, there were 93 shares available for future issuance under the Plan. Transactions related to awards for the six months ended June 30, 2025 are summarized below:
(1)During the six months ended June 30, 2025, 135 RSUs were granted to certain officers of ARMOUR. At June 30, 2025, there was approximately $7,304 of unvested stock based compensation related to the Awards (based on a weighted grant date price of $26.69 per share), which we expect to recognize as an expense as follows: for the remainder of 2025 an expense of $897, in 2026 an expense of $2,237, and thereafter an expense of $4,170. Our policy is to account for forfeitures as they occur. We also pay each of our non-executive Board members quarterly fees of $33, which are payable in cash, common stock, RSUs or a combination of common stock, RSUs and cash at the option of the director. Non-executive Board members have the option to participate in the Company's Non-Management Director Compensation and Deferral Program (the "Deferral Program"). The Deferral Program permits non-executive Board members to elect to receive either common stock or RSUs or a combination of common stock and RSUs at the option of the director, instead of all or part of their quarterly cash compensation and/or all or part of their committee and chairperson cash retainers.
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