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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K ( Mark One ) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number : 001-34374 Title of Each Class Class A Common Stock ARLINGTON ASSET INVESTMENT CORP . ( Exact name of registrant as specified in its charter ) Virginia ( State or Other Jurisdiction of Incorporation or Organization ) 6862 Elm Street , Suite 320 McLean , VA 22101 ( Address of Principal Executive Offices ) ( Zip Code ) ( 703 ) 373-0200 ( Registrant's telephone number , including area code ) Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) AAIC AAIC PrB AAIC PrC 7.00 % Series B Cumulative Perpetual Redeemable Preferred Stock 8.250 % Series C Fixed - to - Floating Rate Cumulative Redeemable Preferred Stock 6.625 % Senior Notes due 2023 6.75 % Senior Notes due 2025 AIW AIC 54-1873198 ( I.R.S. Employer Identification No. ) Name of Each Exchange on Which Registered NYSE NYSE NYSE NYSE NYSE Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act : Yes Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act : Yes No No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days : Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S T ( §232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) : Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company , " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Large accelerated filer Non - accelerated filer i Accelerated filer Small reporting company Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) : Yes No The aggregate market value of the registrant's Class A common stock held by non - affiliates computed by reference to the last reported price at which the registrant's Class A common stock was sold on the New York Stock Exchange on June 30 , 2020 was $ 105 million . As of January 31 , 2021 , there were 33,404,265 shares of the registrant's Class A common stock outstanding and no shares of the registrant's Class B common stock outstanding . Documents incorporated by reference : Portions of the registrant's Definitive Proxy Statement for the 2021 Annual Meeting of Shareholders ( to be filed with the Securities and Exchange Commission no later than 120 days after the end of the registrant's fiscal year end ) are incorporated by reference in this Annual Report on Form 10 K in response to Part II , Item 5 and Part III , Items 10 , 11 , 12 , 13 and 14 .