Quarterly report pursuant to Section 13 or 15(d)

Insider Trading Arrangements

v3.23.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2023
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement During the three months ended September 30, 2023, the following directors and executive officers adopted or terminated a written plan intended to satisfy affirmative defense conditions of Rule 10b5–1(c) of the Exchange Act. Each of these written plans relates to the sale of Two Harbors common stock for the purpose of satisfying tax obligations associated with future vestings of equity compensation, as permitted pursuant to the stock ownership guidelines applicable to our directors and executive officers, and replaces and supersedes a prior written plan entered into by the referenced individual related to the same. In addition, each of these written plans or terminations was entered into during an open trading window and shall take effect ninety days after adoption. The new plans shall remain in effect until amended or terminated.
On August 3, 2023, Rebecca Sandberg, our Chief Legal Officer and Secretary, adopted a written plan pursuant to which Ms. Sandberg has elected to sell a number of shares sufficient to cover the local, state and federal tax liability associated with each future vesting of equity compensation, subject to the maximum of fifty percent of shares vesting.
On August 3, 2023, James Bender, an independent director, terminated a written plan pursuant to which Mr. Bender had previously elected to sell 30% of shares vesting in connection with vestings of equity compensation.
On August 10, 2023, Stephen Kasnet, our Chairman and an independent director, adopted a written plan pursuant to which Mr. Kasnet has elected to sell 40% of shares vesting in connection with future vestings of equity compensation.
Except as set forth above, none of our directors or executive officers adopted or terminated a contract, instruction or written plan for the purchase or sale of our securities during the three months ended September 30, 2023.
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Rebecca Sandberg [Member]  
Trading Arrangements, by Individual  
Name Rebecca Sandberg
Title Chief Legal Officer and Secretary
Rule 10b5-1 Arrangement Adopted true
Adoption Date August 3, 2023
James Bender [Member]  
Trading Arrangements, by Individual  
Name James Bender
Title independent director
Rule 10b5-1 Arrangement Adopted true
Adoption Date August 3, 2023
Stephen Kasnet [Member]  
Trading Arrangements, by Individual  
Name Stephen Kasnet
Title Chairman and an independent director
Rule 10b5-1 Arrangement Adopted true
Adoption Date August 10, 2023