Orchid Island (ORC) Director Frank P. Filipps Receives 5,755 RSUs

What Happened
Frank P. Filipps, a director of Orchid Island Capital, was granted 5,755 deferred stock units on 2026-10-01. The filing reports an acquisition at $0.00 (a grant of derivative awards), so there is no immediate cash purchase or sale. These units are recorded as derivative awards that represent rights to future common shares.

Key Details

• Transaction date: 2026-10-01; filing accession: 0001437749-26-031755.
• Award: 5,755 deferred stock units (derivative), reported acquisition price $0.00.
• Footnote F1: Each deferred stock unit equals the right to receive one share of common stock.
• Footnote F2: The units are 100% vested but are not payable until the earlier of a change of control or the reporting person’s death, disability, or separation from service as a director.
• Shares owned after transaction: not specified in the filing.
• Filing appears timely (reporting and filing date 2026-10-01).

Context
This is a grant of deferred compensation (RSU-style units), not an open-market purchase or sale — it does not reflect an immediate cash outlay or liquidation. Because payment is contingent on specific events (change of control, death, disability, or separation), these units provide future share delivery rather than an immediate increase in transferable stock.