Orchid Island (ORC) CFO Haas G Hunter IV Receives Shares; Sells for Taxes

What Happened Haas G Hunter IV, Chief Financial Officer of Orchid Island Capital (ORC), had 1,189 shares of common stock issued upon the vesting/conversion of Performance Units on September 25, 2026. To satisfy tax withholding related to the vesting, 468 of those shares were surrendered to the company at an implied price of $5.77 per share, yielding approximately $2,700 in withholding. The issuance reflects conversion/exercise of previously granted performance units (derivative conversion).

Key Details

• Transaction date: 2026-09-25 (period and filing date both 2026-09-25). Filing appears timely.
• Issued/Acquired: 1,189 shares upon vesting/conversion of Performance Units (derivative code M) at $0.00 intrinsic price (these were awards, not open-market purchases).
• Disposed for tax withholding: 468 shares at $5.77 per share for $2,700 (code F) to satisfy withholding obligations.
• Footnotes: Shares were issued under the 2021 Equity Incentive Plan and 2023 LT Equity Compensation Plan (award date March 19, 2024). Cash paid in lieu of fractional shares based on the Sept 24, 2026 closing price ($5.77).
• Shares owned after the transaction: not reported in the provided filing excerpt.

Context This was a vesting/conversion of performance-based equity, not an open-market buy or sale for investment. The disposition was a routine tax-withholding transaction (company withheld/surrendered shares to cover taxes), which is common after awards vest and does not necessarily signal insider sentiment. The derivative code (M) indicates conversion/exercise of a derivative (performance units) into common stock.