MCDOWELL PAUL H 4

What Happened Paul H. McDowell — Director, Chief Executive Officer and President of Orion Properties Inc. — had 23,245 shares of common stock disposed on February 26, 2026 as a tax-withholding payment related to the vesting of restricted stock units (RSUs). The shares were valued at $2.56 each (closing NYSE price), for a total of approximately $59,507. This was a withholding disposition (code F) to cover tax liabilities, not an open-market sale intended as an investment signal.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (timely within the two-business-day reporting window).
• Price: $2.56 per share (NYSE closing price on Feb 26, 2026); total value ≈ $59,507.
• Shares disposed: 23,245 (withheld to satisfy tax obligations).
• Underlying vesting: 64,451 RSU shares vested; 23,245 were withheld per the applicable withholding rate (see footnote).
• Shares owned after transaction: not specified in the filing.
• Transaction code: F (payment of exercise price or tax liability).

Context This was a tax-withholding event tied to RSU vesting (a common administrative transaction). It does not necessarily indicate the CEO’s view of the company’s stock price since shares were surrendered solely to satisfy tax withholding requirements.