Brandon Gavin 4

What Happened

• Brandon Gavin, Executive Vice President, Chief Financial Officer and Treasurer of Orion Properties (ONL), had 3,200 shares withheld on March 7, 2026 to satisfy tax withholding related to the vesting of restricted stock units (RSUs).
• The withheld shares were valued at $2.45 each (NY stock close on March 6, 2026), for a total withholding value of $7,840. According to the filing, 12,141 RSUs vested in total, implying net delivery of 8,941 shares to Gavin after withholding. Transaction code F indicates tax withholding rather than an open-market sale.

Key Details

• Transaction date: 2026-03-07; Form filed: 2026-03-10.
• Withheld shares: 3,200 at $2.45 per share = $7,840 (used to cover tax liability).
• Vested RSUs: 12,141 shares vested (total value at $2.45 ≈ $29,745.45); net shares delivered ≈ 8,941.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes: F1 confirms withholding applied to the 12,141 vested RSUs; F2 cites the March 6, 2026 NYSE closing price used to value the shares.
• Filing timeliness: Form was filed on 2026-03-10 for the 2026-03-07 transaction; the filing itself does not flag a late-reporting notation.

Context

• This was a tax-withholding (cashless) transaction tied to RSU vesting, not an opportunistic sale. Withholding of shares to satisfy taxes is a common administrative action and does not necessarily indicate insider sentiment about the company’s stock price.
• For retail investors, purchases or open-market sales by insiders can be more informative about conviction; routine withholding for taxes is generally neutral.