Brandon Gavin 4

What Happened Brandon Gavin, Executive Vice President, Chief Financial Officer and Treasurer of Orion Properties, had 8,055 shares of Orion common stock withheld to satisfy tax withholding on 27,694 restricted stock units that vested. The withholding used the closing price of $2.56 on February 26, 2026, producing a cash value of approximately $20,621. This is a routine tax-withholding disposition (SEC transaction code F), not an open-market sale driven by investment sentiment.

Key Details

• Transaction date: February 26, 2026; filing date: March 2, 2026 (filed within the 2-business-day Form 4 deadline).
• Withheld shares: 8,055 shares; price used: $2.56 (NY Stock Exchange close on 2/26/2026); value ≈ $20,621.
• Vesting: 27,694 RSUs vested; withheld shares represent the applied withholding on that vesting (≈29.1% of the vested shares).
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes: F1 notes the withholding was applied to the 27,694 vested RSUs; F2 confirms the $2.56 closing price.

Context Tax withholding on vested restricted stock units is a routine administrative disposition and generally does not indicate a change in the insider’s view of the company. This was not a market sale by the insider but an internal share retention to cover tax liabilities.