Haas G Hunter IV 4
Research Summary
AI-generated summary
Orchid Island (ORC) CFO Haas Exercises Awards, Sells Shares
What Happened
CFO G. Hunter Haas IV had performance-based equity convert to common stock on March 26, 2026. The filing shows conversion/exercise of performance units into roughly 3,031 shares (no cash paid on conversion) and the surrender of 1,133 of those shares back to the company to satisfy tax-withholding obligations, generating $8,101 in proceeds to cover taxes.
Key Details
- Transaction date: March 26, 2026 (Form filed March 27, 2026).
- Conversions/exercises: ~3,031 shares reported as converted/exercised at $0.00 (codes M).
- Tax withholding: 1,133 shares disposed at $7.15 per share, totaling $8,101 (code F). The $7.15 price is the closing price on March 25, 2026 (footnote).
- Footnotes: F1 explains the 3,031 shares come from vesting of performance units awarded in 2023 and 2024; cash was paid for fractional shares. F2 confirms the 1,133-share disposition was to the issuer to satisfy tax withholding. F3 notes the $7.15 price source.
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Timeliness: filing appears timely (filed the business day after the transaction); no late-report flag noted.
Context
This was an award vesting event (performance units converting to common stock) with a routine tax-withholding sale of a portion of the shares back to the company. That type of disposition is standard for satisfying payroll/tax obligations and should not be interpreted as an open-market sell decision about the stock's outlook.