Orion Properties (NYSE: ONL) awards 115,063 RSUs to officer Gavin

Rhea-AI Filing Summary

Brandon Gavin reported acquisition or exercise transactions in this Form 4 filing.

Orion Properties Inc. reported that officer Brandon Gavin received a grant of 115,063 shares of Common Stock in the form of restricted stock units on March 12, 2026, under the company’s equity plan. These units vest in three equal annual installments on the first, second, and third anniversaries of March 4, 2026, contingent on his continued service with the company. Following this award, Gavin directly holds 343,618 shares of Common Stock.

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

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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^*

Brandon Gavin

(Last) (First) (Middle)

C/O ORION PROPERTIES INC.

3200 E. CAMELBACK ROAD, SUITE 100

(Street)

PHOENIX AZ 85018

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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

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

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

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	03/12/2026		A		115,063(1)	A	$0	343,618	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. Reflects restricted stock units awarded March 12, 2026, to the Reporting Person pursuant to the Issuer's Equity Plan. Such restricted stock units vest ratably on each of the first, second and third anniversaries of March 4, 2026, subject to the Reporting Person's continued service with the Issuer through such applicable vesting date.

Remarks:

Executive Vice President, Chief Financial Officer and Treasurer

	/s/ Paul C. Hughes, by power of attorney	03/16/2026
	** 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.

FAQ

What did Orion Properties (ONL) disclose about Brandon Gavin in this Form 4?

Orion Properties reported that officer Brandon Gavin received 115,063 shares of Common Stock as restricted stock units on March 12, 2026. The award was granted under the company’s equity plan and increased his direct holdings to 343,618 shares of Common Stock after the transaction.

How many Orion Properties (ONL) shares did Brandon Gavin acquire in the latest filing?

Brandon Gavin acquired 115,063 shares of Orion Properties Common Stock through a grant of restricted stock units. The grant carried a price of $0.0000 per share because it represents equity compensation, not a market purchase, and forms part of his overall long-term incentive package.

What is the vesting schedule for Brandon Gavin’s 115,063 Orion Properties (ONL) RSUs?

The 115,063 restricted stock units awarded to Brandon Gavin vest ratably over three years. They vest in equal portions on each of the first, second, and third anniversaries of March 4, 2026, provided he continues to serve Orion Properties through each applicable vesting date.

How many Orion Properties (ONL) shares does Brandon Gavin hold after this grant?

After the March 12, 2026 restricted stock unit grant, Brandon Gavin directly holds 343,618 shares of Orion Properties Common Stock. This figure reflects his total direct ownership reported in the filing, including the newly awarded restricted stock units subject to their stated vesting schedule.

Is Brandon Gavin’s Orion Properties (ONL) transaction a market buy or a compensation award?

The transaction is a compensation-related equity award, not a market purchase. Gavin received 115,063 restricted stock units at a stated price of $0.0000 per share under Orion Properties’ equity plan, reflecting a grant or award acquisition rather than an open-market trade.