Lieb Richard J 4

What Happened Richard J. Lieb, a director of Orion Properties Inc. (ONL), was granted 34,483 restricted stock units (RSUs) on May 13, 2026. The Form 4 reports the award as an acquisition at $0.00 (transaction code A) — this was an equity grant, not an open-market purchase or sale. No dollar value at grant or cash exchanged is reported on the filing.

Key Details

• Transaction date and type: 2026-05-13 — Grant of 34,483 RSUs (A) at $0.00.
• Shares owned after transaction: Not disclosed on this Form 4.
• Vesting (per footnote): RSUs vest in full on the earlier of (i) the one‑year anniversary of the grant or (ii) the date of the issuer’s next annual meeting of stockholders, subject to continued service.
• Filing timeliness: Form 4 filed 2026-05-15 (timely — within the usual two business days required).

Context RSUs are a promise to deliver shares (or their cash equivalent) if vesting conditions are met; they do not represent an immediate purchase or sale and have no realized value until vested/settled. Director equity awards are a common form of compensation and do not by themselves indicate an insider buying or selling the stock. Purchases tend to be more direct signals of insider sentiment than awards.