Orchid Island (ORC) CEO Robert Cauley Receives 1,276 Shares

What Happened
Robert E. Cauley, CEO of Orchid Island Capital, had 1,276 shares of common stock issued to him on 2026-09-25 upon the vesting/conversion of performance units (derivative code M). The reported acquisition price is $0.00 (these were issued as compensation). The filing also shows a nearly equal "disposed" line (1,276.1 shares at $0.00); the footnote explains a fractional share was settled in cash.

Key Details

• Transaction date: 2026-09-25. Transaction code: M (exercise/conversion of derivative).
• Shares acquired: 1,276 at $0.00 (issued on vesting). Filing also lists a 1,276.1-share disposition at $0.00; footnote clarifies cash was paid for the fractional share.
• Footnote: These shares came from Performance Units awarded on March 19, 2024 under the issuer’s equity plans; cash was paid in lieu of issuing fractional shares based on the 2026-09-24 closing price.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: Reported with period date 2026-09-25; no late-file indicator noted.

Context
This was a routine issuance from vested long-term incentive compensation (an award conversion), not a market purchase or open-market sale. Such vesting events are normal executive compensation and do not by themselves indicate a trading decision.