Orion Properties director granted 34,483 RSUs

Whyte Gregory J. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Whyte Gregory J. reported acquisition or exercise transactions in this Form 4 filing.

Orion Properties Inc. director receives equity award. Director Whyte Gregory J. was granted 34,483 shares of Common Stock in the form of restricted stock units with no cash paid per share. After this award, he directly holds 139,896 shares.

The RSUs vest in full on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders, subject to his continued service with the company through the vesting date.

Insider Trade Summary

Grant/Award: 34,483 shares

Grant/Award 1 txn

Insider Whyte Gregory J.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	34,483	$0.00	$0.00

Holdings After Transaction: Common Stock — 139,896 shares (Direct)

Footnotes (1)

1. F1. Represents restricted stock units ("RSUs") granted to the Reporting Person pursuant to the Issuer's equity plan. The RSUs vest in full on the earlier to occur of (i) the one-year anniversary of the grant date or (ii) the date of the annual meeting of the Issuer's stockholders next following the grant date, subject to the Reporting Person's continued service with the Issuer through such date.

Key Figures

RSU grant size: 34,483 shares Grant price per share: $0.0000 per share Shares held after grant: 139,896 shares +1 more

4 metrics

RSU grant size 34,483 shares Restricted stock units granted to director on 2026-05-13

Grant price per share $0.0000 per share RSU award under equity compensation plan

Shares held after grant 139,896 shares Director’s direct holdings following RSU award

Vesting trigger 1-year anniversary or next annual meeting RSUs vest on earlier of these dates, subject to continued service

Key Terms

restricted stock units ("RSUs"), equity plan, annual meeting of the Issuer's stockholders, continued service

4 terms

restricted stock units ("RSUs") financial

"Represents restricted stock units ("RSUs") granted to the Reporting Person pursuant to the Issuer's equity plan."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

equity plan financial

"RSUs granted to the Reporting Person pursuant to the Issuer's equity plan."

An equity plan is a company program that gives employees, executives or directors a stake in the business through stock, stock options or similar ownership awards, like handing out slices of a pie to people who help bake it. It matters to investors because these grants can motivate key personnel and align their interests with shareholders, but they also increase the number of shares over time and can dilute existing ownership and affect reported earnings.

annual meeting of the Issuer's stockholders regulatory

"the date of the annual meeting of the Issuer's stockholders next following the grant date"

continued service financial

"subject to the Reporting Person's continued service with the Issuer through such date."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Orion Properties Inc. (ONL) disclose in this Form 4 filing?

Orion Properties Inc. reported that director Whyte Gregory J. received a grant of 34,483 restricted stock units of Common Stock. These equity awards are part of the company’s compensation program for directors and increase his direct holdings to 139,896 shares after the grant.

How many Orion Properties (ONL) shares did the director acquire in this transaction?

The director acquired 34,483 shares of Common Stock in the form of restricted stock units. These were granted at no cash purchase price, reflecting equity-based compensation rather than an open-market share purchase, and are subject to future vesting conditions tied to his continued service.

What are the vesting terms of the RSUs granted by Orion Properties (ONL)?

The restricted stock units vest in full on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders. Vesting requires the director to continue serving with Orion Properties Inc. through that vesting date under the company’s equity plan.

What is the director’s total Orion Properties (ONL) shareholding after this Form 4 transaction?

Following the RSU grant, director Whyte Gregory J. directly holds 139,896 shares of Orion Properties Inc. common stock. This figure includes the newly granted restricted stock units, reflecting his updated beneficial ownership position reported in the Form 4 filing with the SEC.

Was this Orion Properties (ONL) Form 4 a market purchase or a compensation grant?

The Form 4 reflects a compensation-related grant, not a market purchase. The 34,483 shares were issued as restricted stock units with a reported price of $0.0000 per share, consistent with equity awards granted under Orion Properties Inc.’s equity compensation plan for directors.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 04:30 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Whyte Gregory J.

(Last) (First) (Middle)

C/O ORION PROPERTIES INC.

3200 E. CAMELBACK ROAD, SUITE 100

(Street)

PHOENIX ARIZONA 85018

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Orion Properties Inc. [ ONL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/13/2026		A		34,483(1)	A	$0	139,896	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted to the Reporting Person pursuant to the Issuer's equity plan. The RSUs vest in full on the earlier to occur of (i) the one-year anniversary of the grant date or (ii) the date of the annual meeting of the Issuer's stockholders next following the grant date, subject to the Reporting Person's continued service with the Issuer through such date.

Remarks:

	/s/ Paul C. Hughes, by power of attorney	05/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)