Statement of Changes in Beneficial Ownership (4)

FORM 4

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Downey Carolyn	2. Issuer Name and Ticker or Trading Symbol Armour Residential REIT, Inc. [ ARR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    _____ 10% Owner _____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle) 3001 OCEAN DRIVE, SUITE 201	3. Date of Earliest Transaction (MM/DD/YYYY) 8/24/2021
(Street) VERO BEACH, FL 32963 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.001 per share	8/24/2021		M		2850 (1)	A	$0	45058	D
Common Stock, par value $0.001 per share	8/24/2021		D		1425 (1)	D	$10.50	43633	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock	(2)	8/24/2021		M			2850 (1)	(1)	(1)	Common Stock	2850.0	$0	12950 (1)	D

Explanation of Responses:
(1)	On August 24, 2021, the reporting person elected to convert 1,425 shares out of 2,850 shares of vested phantom stock into 1,425 shares of ARMOUR common stock. The person elected to convert the remaining 1,425 shares of vested phantom stock into cash solely to pay income taxes on the vested stock. The 2,850 shares are part of, and relate to, phantom stock vesting over a period of approximately two years, which was reported on a Form 4 report filed by the reporting person on January 16, 2020 and phantom stock vesting over a period of approximately five years, which was reported on a Form 4 report filed by the person on January 14, 2021.
(2)	Each unit of phantom stock is the economic equivalent of one share of ARMOUR common stock.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Downey Carolyn 3001 OCEAN DRIVE SUITE 201 VERO BEACH, FL 32963	X

Signatures
/s/ Carolyn Downey		8/26/2021
**Signature of Reporting Person		Date