EFC Ellington Financial Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q3 2025: $0M, Q2 2025: $0M, Q1 2025: $1M, Q3 2024: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $0M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Negative FCF ($-22M), cannot compute buyback ratio

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,256,501 shares = 1.5% of 83,000,488 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

80 open-market purchases by 5 insiders

• SIMON RONALD I () bought 5,544 shares at $13.56 on 2025-09-11
• Penn Laurence (CEO and President) bought 28,631 shares at $16.15 on 2018-11-14
• Penn Laurence (CEO and President) bought 30,000 shares at $16.20 on 2018-11-12
• SIMON RONALD I () bought 1,839 shares at $16.20 on 2018-05-23
• Penn Laurence (CEO and President) bought 3,959 shares at $15.96 on 2018-05-14
• Vranos Michael W (Co-Chief Investment Officer) bought 15,835 shares at $15.96 on 2018-05-14
• Vranos Michael W (Co-Chief Investment Officer) bought 63,960 shares at $15.80 on 2018-05-11
• Penn Laurence (CEO and President) bought 19,990 shares at $15.79 on 2018-05-11
• Penn Laurence (CEO and President) bought 3,900 shares at $15.68 on 2018-05-10
• Vranos Michael W (Co-Chief Investment Officer) bought 500,000 shares at $23.27 on 2013-11-14

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 0 of 4 quarters

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $15M, sold $18M (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected