Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|
transaction | ORC | Common Stock | Options Exercise | $0 | +1.07K | +2.55% | $0.00 | 42.8K | Sep 27, 2022 | Direct | F1, F4 |
transaction | ORC | Common Stock | Tax liability | -$1.53K | -150 | -0.35% | $10.22 | 42.6K | Sep 27, 2022 | Direct | F2, F3 |
Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
transaction | ORC | Performance Units | Options Exercise | $0 | -1.07K | -4.92% | $0.00 | 20.6K | Sep 27, 2022 | Common Stock | 1.07K | Direct | F1, F5 |
Id | Content |
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F1 | These shares represent 1,065 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person on March 22, 2021 pursuant to the Issuer's 2012 Long Term Incentive Compensation Plan and 2020 Long Term Equity Incentive Compensation Plan. Cash was paid in lieu of issuing fractional shares based on the closing price of the Company's common stock on September 23, 2022. |
F2 | The price represents the closing price of the Company's common stock on September 23, 2022. |
F3 | 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 vesting of shares. |
F4 | The number of shares of common stock reflects the one-for-five reverse stock split, effective as of August 30, 2022. |
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 March 31, 2022 and the Company's book value per share decline from January 1, 2022 to June 30, 2022 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%. |