Orchid Island CEO converts 3,694 units to shares
Orchid Island Capital CEO Robert E. Cauley exercised performance-based equity awards into 3,694 shares of common stock, stemming from Performance Units granted in 2023 and 2024.
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Orchid Island Capital CEO Robert E. Cauley exercised performance-based equity awards into 3,694 shares of common stock, stemming from Performance Units granted in 2023 and 2024. Following these vestings, he directly holds 226,984 common shares and 126,995.38 Performance Units, reflecting routine compensation-related equity activity.
Insider Trade Summary
3,694.18 shares exercised/converted
Exercise
2 txns
Insider
Cauley Robert E
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Units | 3,694.18 | $0.00 | $0.00 |
| Exercise | Common Stock | 3,694 | $0.00 | $0.00 |
Holdings After Transaction:
Performance Units — 126,995.38 contracts (Direct);
Common Stock — 226,984 shares (Direct)
Holdings Before and After:
Performance Units, 130,689.56 to 126,995.38 contracts (Direct);
Common Stock, 223,290 to 226,984 shares (Direct)
Footnotes (1)
- F1. These shares represent 2,418 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person on April 13, 2023 pursuant to the Issuer's 2021 Equity Incentive Plan and 2022 Long Term Equity Incentive Compensation Plan, and 1,276 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person on March 19, 2024 pursuant to the Issuer's 2021 Equity Incentive Plan and 2023 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 June 25, 2026.
Key Figures
Shares issued from Performance Units: 3,694 shares
Common shares after transaction: 226,984 shares
Performance Units remaining: 126,995.38 units
+3 more
6 metrics
Shares issued from Performance Units
3,694 shares
Common stock issued upon vesting of Performance Units
Common shares after transaction
226,984 shares
Direct holdings of Robert E. Cauley after vesting
Performance Units remaining
126,995.38 units
Performance Units directly held after reported transactions
2023 vesting component
2,418 shares
Shares issued from Performance Units awarded April 13, 2023
2024 vesting component
1,276 shares
Shares issued from Performance Units awarded March 19, 2024
Exercise/conversion transactions
2 transactions
Both coded M as derivative exercises/conversions on common stock and Performance Units
Key Terms
Performance Units, Equity Incentive Plan, Long Term Equity Incentive Compensation Plan, derivative security, +1 more
5 terms
Performance Units financial
"These shares represent 2,418 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person..."
Performance units are company awards that become valuable only if specified business targets are met; they typically convert into shares or cash when performance goals are achieved. Think of them like a conditional bonus that turns into stock only if the company hits agreed milestones, so they align managers’ incentives with shareholders’ interests and can affect future share count, executive pay expense, and investor returns.
Equity Incentive Plan financial
"...awarded to the Reporting Person on April 13, 2023 pursuant to the Issuer's 2021 Equity Incentive Plan..."
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
Long Term Equity Incentive Compensation Plan financial
"...pursuant to the Issuer's 2021 Equity Incentive Plan and 2022 Long Term Equity Incentive Compensation Plan..."
derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Orchid Island Capital (ORC) report for Robert E. Cauley?
Orchid Island Capital reported that CEO Robert E. Cauley acquired 3,694 shares of common stock through the vesting and exercise of Performance Units. These awards were granted under the company’s equity incentive plans in 2023 and 2024, reflecting routine compensation-related equity vesting.
What are Performance Units in the Orchid Island Capital (ORC) Form 4 filing?
In this filing, Performance Units are derivative equity awards that convert into common stock upon vesting. Cauley’s units vested into 3,694 shares, with additional Performance Units remaining outstanding, providing ongoing performance-based equity compensation under the company’s long-term incentive plans.
How many Performance Units remain for the Orchid Island Capital (ORC) CEO?
Following the vesting and conversion reported, Robert E. Cauley holds 126,995.38 Performance Units. These units represent additional performance-based equity awards that may convert into common stock in the future, aligning his compensation with longer-term company performance outcomes.
Was any cash involved in the Orchid Island Capital (ORC) CEO’s equity vesting?
Cash was paid only in lieu of issuing fractional shares that would have resulted from the Performance Unit vesting. The cash amount was based on the closing price of Orchid Island Capital’s common stock on June 25, 2026, rather than a traditional open-market stock purchase or sale.
AI-generated analysis. How Rhea-AI works. Not financial advice.
