PAIK YI HYON 4

What Happened

• Paik Yi Hyon, a director of Orion S.A. (ticker: OEC), was granted 19,150 restricted shares on June 26, 2026. The Form 4 reports an acquisition price of $0.00 (award/grant), with a reported total value of $0 on the filing.
• This transaction is an equity award (code A) — a compensation/award grant rather than a market purchase or sale.

Key Details

• Transaction date: June 26, 2026. Filing date (Form 4): June 30, 2026 (timely; within the two-business-day reporting window).
• Reported price: $0.00 per share; reported total value: $0.
• Shares owned after the transaction: not specified in the provided filing.
• Footnote: The 19,150 restricted shares vest on the day prior to the issuer’s 2027 Annual General Meeting of Shareholders.
• No indication of a 10b5‑1 plan, tax withholding, or immediate sale in the filing.

Context

• Restricted-share awards are typically compensation and come with vesting conditions; they do not represent an open-market purchase and should not be interpreted as an immediate bullish or bearish trade by the insider.
• The vesting timeline (vesting the day before the 2027 AGM) means the recipient cannot freely transfer these shares until they vest, subject to company-imposed restrictions.