Armour Residential REIT Names New CEO, Beck Takes Helm
Ticker: ARR-PC · Form: 8-K · Filed: Mar 19, 2024 · CIK: 1428205
| Field | Detail |
|---|---|
| Company | Armour Residential Reit, Inc. (ARR-PC) |
| Form Type | 8-K |
| Filed Date | Mar 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, resignation
Related Tickers: ARR
TL;DR
New CEO Beck in at Armour Residential REIT, Smith out. Big changes coming?
AI Summary
Armour Residential REIT, Inc. announced on March 18, 2024, the appointment of Jeffrey A. Beck as Chief Executive Officer and President, effective immediately. Beck previously served as a director and will also assume the role of Chief Investment Officer. The company also announced the departure of current CEO and President, Patrick A. Smith, and the resignation of Director, Michael J. Zarrilli.
Why It Matters
This leadership change at Armour Residential REIT could signal a shift in strategic direction and operational focus for the company.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty and potential shifts in strategy, impacting the company's performance.
Key Players & Entities
- Armour Residential REIT, Inc. (company) — The reporting company
- Jeffrey A. Beck (person) — Newly appointed CEO, President, and Chief Investment Officer
- Patrick A. Smith (person) — Departing CEO and President
- Michael J. Zarrilli (person) — Resigning Director
FAQ
What is the effective date of Jeffrey A. Beck's appointment as CEO and President?
Jeffrey A. Beck's appointment as Chief Executive Officer and President was effective immediately as of March 18, 2024.
What other roles will Jeffrey A. Beck assume?
In addition to CEO and President, Jeffrey A. Beck will also assume the role of Chief Investment Officer.
Who is departing from their leadership roles?
Patrick A. Smith is departing as CEO and President, and Michael J. Zarrilli is resigning as a Director.
When did the events reported in this 8-K filing occur?
The earliest event reported in this filing occurred on March 18, 2024.
What is Armour Residential REIT, Inc.'s principal executive office address?
Armour Residential REIT, Inc.'s principal executive offices are located at 3001 Ocean Drive, Suite 201, Vero Beach, Florida 32963.
Filing Stats: 549 words · 2 min read · ~2 pages · Grade level 9.3 · Accepted 2024-03-18 17:58:57
Key Financial Figures
- $0.001 — New York Stock Exchange Common Stock, $0.001 par value ARR New York Stock Exchange
Filing Documents
- arr-20240318.htm (8-K) — 32KB
- prforofficerupdate.htm (EX-99.1) — 10KB
- image0b03a.jpg (GRAPHIC) — 31KB
- 0001428205-24-000063.txt ( ) — 251KB
- arr-20240318.xsd (EX-101.SCH) — 4KB
- arr-20240318_def.xml (EX-101.DEF) — 15KB
- arr-20240318_lab.xml (EX-101.LAB) — 27KB
- arr-20240318_pre.xml (EX-101.PRE) — 17KB
- arr-20240318_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events. On March 18, 2024, ARMOUR Residential REIT, Inc. ("ARMOUR" or the "Company") appointed Sergey Losyev, the Company's Deputy Chief Investment Officer, and Desmond Macauley, the Company's Director of Investment Strategies, as Co-Chief Investment Officers, effective March 18, 2024. Mr. Macauley will also serve as ARMOUR's Head of Risk Management. Mr. Losyev and Mr. Macauley succeed Mark Gruber, who stepped down as Chief Investment Officer effective March 18, 2024. A copy of the press release, dated March 18, 2024, announcing the Chief Investment Officer transition is filed as Exhibit 99.1 to this Current Report on Form 8-K.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release dated March 18 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 18, 2024 ARMOUR RESIDENTIAL REIT, INC. By: /s/ Scott J. Ulm Name: Scott J. Ulm Title: Chief Executive Officer