Key facts
- This page summarizes Robert E. Cauley's Form 4 filing for Orchid Island Capital, Inc. (ORC).
- 3 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 20 Mar 2024, 16:09.
Robert E. Cauley - 19 Mar 2024 Form 4 Insider Report for Orchid Island Capital, Inc. (ORC)
- Reporting relationship
- Chief Executive Officer, Director
- Issuer ticker
- ORC
- Reported as of
- 19 Mar 2024
- Net transaction value
- -$36,366
- SEC form
- 4
- Accepted by SEC
- 20 Mar 2024, 16:09:34 UTC
- Prior SEC filing
- 29 Dec 2023
- Next SEC filing
- 26 Mar 2024
- Source filing
- View source filing
- Reporting owner signature
- /s/ Robert E. Cauley
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Robert E. Cauley filed Form 4 for Orchid Island Capital, Inc. (ORC) on 20 Mar 2024.
Change
- Previous filing in this sequence was filed on 29 Dec 2023.
- Current net transaction value: -$36,366.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
ORC
transaction
Common Stock
Award
- Transaction value
- $0
- Shares
- +12,761
- Change %
- +11%
- Price
- $0.000000
- Shares after
- 126,741
- Date
- 19 Mar 2024
- Ownership
- Direct
- Footnotes
- F1
ORC
transaction
Common Stock
Tax liability
- Transaction value
- $36,366
- Shares
- -4,209
- Change %
- -3.3%
- Price
- $8.64
- Shares after
- 122,532
- Date
- 19 Mar 2024
- Ownership
- Direct
- Footnotes
- F2, F3
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
ORC
transaction
Derivative
Performance Units
Award
- Transaction value
- $0
- Shares
- +12,761
- Change %
- +41%
- Price
- $0.000000
- Shares after
- 44,183
- Date
- 19 Mar 2024
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 12,761
- Exercise price
- Footnotes
- F4, F5
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 5 footnotes
Footnote F1
Unrestricted shares of the Issuer's common stock issued under the 2021 Equity Incentive Compensation Plan and the 2019 Long-Term Incentive Compensation Plan, the 2021 Long-Term Incentive Compensation Plan and the 2023 Long-Term Incentive Compensation Plan.
Footnote F2
The Reporting Person disposed of these shares of the Company'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 March 19, 2024.
Footnote F3
This price represents the closing price of the Issuer's common stock on March 18, 2024.
Footnote F4
Performance units issued under the 2021 Equity Incentive Compensation Plan and the 2019 Long-Term Incentive Compensation Plan, the 2021 Long-Term Incentive Compensation Plan and the 2023 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, 2025 and concluding with the quarter ending June 30, 2027. 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.
Footnote F5
The number of shares of common stock issuable upon the vesting of the remaining outstanding Performance Units was reduced as a result of the book value impairment event that occurred pursuant to the Company's Long Term Incentive Compensation Plans (the "Plans"). A book value impairment event occurs if the Company's book value per share declines by more than 15% during the quarter ended September 30, 2023 and the Company's book value per share decline from July 1, 2023 to December 31, 2023 was more than 10%. The Plans provide that if such a book value impairment event occurs, then the number of outstanding performance units that are outstanding as of the last day of such two quarter period shall be reduced by 15%.