Hughes Paul C 4

What Happened
Paul C. Hughes, General Counsel & Secretary of Orion Properties Inc. (ONL), had 6,903 shares disposed on February 26, 2026 as a tax-withholding payment related to 15,106 restricted stock units (RSUs) that vested. The shares were valued at $2.56 each (NYSE closing price), for a total of $17,672. This disposition reflects tax withholding on a vesting event rather than an open-market investment sale.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-03-02 (filed within the typical 2-business-day window).
• Price: $2.56 per share (closing sale price on NYSE on 2/26/2026).
• Shares disposed (withheld for taxes): 6,903; value ≈ $17,672.
• RSUs vested: 15,106; shares retained after withholding: 15,106 − 6,903 = 8,203 (derived from footnote).
• Footnotes: F1 explains the withholding calculation based on the 15,106 vested RSUs; F2 cites the NYSE closing price used.
• Transaction code: F (payment of exercise price or tax liability) — indicates a withholding/settlement, not a market-driven sale.

Context: This was a routine tax-withholding on vested RSUs (a common administrative transaction). It does not necessarily indicate insider buying or selling sentiment since a portion of vested shares were retained.