G. Hunter Haas IV - Apr 13, 2023 Form 4 Insider Report for Orchid Island Capital, Inc. (ORC)

Role
Chief Financial Officer, Director
Signature
/s/ G. Hunter Haas, IV
Stock symbol
ORC
Transactions as of
Apr 13, 2023
Transactions value $
-$87,612
Form type
4
Date filed
4/13/2023, 04:31 PM
Previous filing
Mar 29, 2023
Next filing
May 30, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ORC Common Stock Award $0 +21.7K +58.89% $0.00 58.5K Apr 13, 2023 Direct F1
transaction ORC Common Stock Tax liability -$87.6K -7.97K -13.63% $10.99 50.5K Apr 13, 2023 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ORC Performance Units Award $0 +21.7K +194.97% $0.00 32.8K Apr 13, 2023 Common Stock 21.7K Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Unrestricted shares of the Issuer's common stock issued under the 2021 Equity Incentive Compensation Plan and the 2018 Long-Term Incentive Compensation Plan, the 2020 Long-Term Incentive Compensation Plan and the 2022 Long-Term Incentive Compensation Plan.
F2 The Reporting Person disposed of these shares of the Issuer's common stock to the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the awarding of shares that occurred on April 13, 2023.
F3 This price represents the closing price of the Issuer's common stock on April 12, 2023.
F4 Performance units issued under the 2021 Equity Incentive Compensation Plan and the 2018 Long-Term Incentive Compensation Plan, the 2020 Long-Term Incentive Compensation Plan and the 2022 Long Term Incentive Compensation Plan. Each performance unit represents a contingent right to receive one share of the Issuer's common stock. The performance units are earned at the rate of 10% per quarter commencing with the quarter ending March 31, 2024 and concluding with the quarter ending June 30, 2026. The number of performance units actually earned by the Reporting Person is subject to adjustment based on the Issuer's achievement of certain performance goals as set forth in a performance unit award agreement by and between the Issuer and the Reporting Person.