Annaly Execs Surge in Trading: CEO Buys 325K Shares, CFO and COO Follow with 250K+ Moves Amid 27% Monthly Gain

Insider Activity at Annaly Capital Management: What It Means for Investors

A Surge in Executives’ Trading Moves Annaly Capital Management has seen a flurry of insider transactions in the past week, with CEO and Co‑CIO David L. Finkelstein, CFO Serena Wolfe, and President & COO Steven Francis all filing Form 4s. On February 25, 2026, Finkelstein executed a sizable purchase of 325,797 shares (plus tax‑withheld shares) at $23.01, bringing his holdings to 1,013,931 shares. The same day, he also sold 180,168 shares, reducing his stake to 833,763 shares. These moves are framed as the vesting of Performance Stock Units and tax‑withholding adjustments, rather than opportunistic trades.

Implications for Investors While the transactions appear to be routine vesting activities, the timing—right after a 27 % monthly gain and a 23 % yearly rise—may raise eyebrows among price‑sensitive investors. Executives buying shares when the stock is high can be interpreted as confidence, yet the concurrent sell suggests liquidity management or tax planning. The net effect is a modest dilution of shares, which, given the company’s large market cap (€13.9 bn), is unlikely to materially impact the stock’s price. However, the pattern of frequent buys and sells by top executives could signal a strategic shift or a response to impending regulatory changes in the fund‑management space.

What the Recent Activity Means for Annaly’s Future The broader insider activity shows a mix of buying and selling across the executive team. CFO Wolfe bought 83,106 shares and sold 42,427 shares, while COO Francis bought 85,319 shares and sold a combined 70,047 shares. This oscillation may reflect portfolio rebalancing rather than a directional bet on Annaly’s performance. Nonetheless, the volume of trades—over 250,000 shares traded by each insider in a single day—suggests that the senior team is actively managing their personal exposure, possibly in anticipation of upcoming dividend policy changes or new asset‑allocation mandates.

David L. Finkelstein: A Profile of Historical Trades Finkelstein’s historical transactions reveal a pattern of large, strategic moves. In early February, he sold 50,000 shares at $23.13, then bought 152,976 shares at $23.01 and sold 139,889 shares at the same price, ending the month with 688,134 shares. The most recent purchase on February 25 adds another 325,797 shares, bringing his holdings above one million. His trade frequency—five transactions in a month—exceeds the average for executives of similar size companies. The consistent use of PSUs and RSUs for compensation, combined with regular tax‑withholding sales, indicates that his trades are driven by vesting schedules rather than market speculation.

Investor Takeaway For long‑term investors, the current insider activity does not signal an immediate change in Annaly’s strategic direction. The trades are consistent with compensation plans and tax management. However, the sheer volume of transactions in a short span warrants continued monitoring. If insider buying remains strong as the stock approaches its 52‑week high, it could reinforce confidence in Annaly’s value‑add strategy. Conversely, a sustained shift toward selling might presage a reassessment of the firm’s growth prospects or an upcoming regulatory shift impacting REIT‑style asset management.