X0306 4 2019-07-12 0 0001209028 Arlington Asset Investment Corp. AI 0001636595 Konzmann Richard Ernst C/O ARLINGTON ASSET INVESTMENT CORP. 1001 NINETEENTH STREET NORTH, SUITE 1900 ARLINGTON VA 22209 0 1 0 0 EVP, CFO and Treasurer Class A Common Stock 2019-07-12 4 A 0 16511 0.00 A 42141 D Represents 16,511 restricted shares of Class A common stock granted on July 12, 2019 ("Restricted Stock"), upon earning a portion of the Performance Share Units ("PSUs") originally granted effective July 1, 2018 (the "Date of Grant") pursuant to the Arlington Asset Investment Corp. 2014 Long-Term Incentive Plan. PSUs represent the right to receive shares of the Company's Class A common stock subject to the achievement of certain performance goals at the end of the applicable performance period. A portion of the PSUs awarded on July 1, 2018 were eligible to be earned at the end of a one-year performance period, at which time, any PSUs earned were to be settled by the grant of Restricted Stock on a one-for-one basis, including the grant of any dividend equivalent Restricted Stock. (Continued from footnote 1) The vesting schedule provides that these Restricted Stock shall vest and become nonforfeitable on the third anniversary of the Date of Grant, subject to Mr. Konzmann's continued employment. The reporting person will be entitled to dividends and voting rights with respect to all of the shares of Restricted Stock. /s/ D. Scott Parish, Attorney-in-Fact 2019-07-12