Orchid Island (ORC) Director Ava L. Parker Receives Award

What Happened

• Director Ava L. Parker received a total of 7,938 deferred stock units (DSUs) in two grants: 2,183 DSUs reported on 2026-09-30 at $5.77 each (total value ≈ $12,596) and 5,755 DSUs reported on 2026-10-01 issued at $0 (no cash paid). Both transactions are coded as A (award/grant) and are derivative awards rather than open-market purchases or sales.

Key Details

• Transaction dates and amounts:
  • 2026-09-30: 2,183 DSUs @ $5.77 each — reported value ≈ $12,596.
  • 2026-10-01: 5,755 DSUs @ $0 (issued in lieu of monthly dividend).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes (important):
  • F1: Each DSU represents a right to receive one share of common stock.
  • F2: The 5,755 units were issued as deferred stock units in lieu of the issuer’s monthly dividend per the director’s election.
  • F3: The DSUs are 100% vested but do not become payable until the earlier of a change of control or the director’s death, disability, or separation from service.
• Filing timeliness: Form filed 2026-10-01 for transactions on 2026-09-30 and 2026-10-01; no late filing flag indicated.

Context

• These are derivative awards (DSUs), not cash purchases or sales. Because DSUs are payable only on specific events (change of control, death, disability, or separation), they do not represent immediate stock transfers into marketable shares. Such grants are typically part of director compensation and should be viewed as compensation-related awards rather than direct insider buying or selling.