Orchid Island Capital (ORC) Director Increases Stake by 1,493 DSUs

Rhea-AI Filing Summary

Ava L. Parker, a director of Orchid Island Capital, Inc. (ORC), reported receipt of 1,493 deferred stock units on 08/28/2025 issued in lieu of her monthly dividend election. Each deferred stock unit equals one share of the issuer's common stock and the filing reports 89,467 shares beneficially owned by Ms. Parker after the transaction. The units are fully vested but are not payable until the earlier of a change of control, death, disability, or separation from service as a director.

Positive

• Received 1,493 deferred stock units issued in lieu of monthly dividend, increasing insider equity exposure
• Deferred stock units are 100% vested, eliminating forfeiture risk for the reporting person
• Beneficial ownership totals 89,467 shares after the transaction, indicating meaningful insider stake

Negative

• Deferred stock units are not payable until specific triggering events (change of control, death, disability, or separation), delaying economic realization
• No immediate cash payment to the reporting person, so transaction does not provide near-term liquidity or marketable shares

Insights

Financial Analyst

TL;DR: Routine equity accrual by a director increases insider ownership modestly; vesting is complete but payout is contingent.

The Form 4 documents a non-cash equity accrual of 1,493 deferred stock units issued in lieu of a monthly dividend. This raises the reporting person’s beneficial ownership to 89,467 shares, improving alignment with shareholders. The units are 100% vested, which removes forfeiture risk, but they remain payable only upon specific triggering events, delaying economic realization and potential market impact.

Corporate Governance Expert

TL;DR: Director elected dividend deferral into vested DSUs; governance practice is routine but payout restrictions limit near-term liquidity.

The disclosure shows a common corporate governance mechanism where a director elects to receive dividends as deferred stock units. Full vesting is governance-friendly because it secures the director’s stake, yet the payment conditions (change of control, death, disability, or separation) mean the economic benefit is contingent and not immediately distributable. This is a standard arrangement for aligning long-term interests.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Parker Ava L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	1,493	$7.07	$11K

Holdings After Transaction: Deferred Stock Units — 89,467 shares (Direct)

Footnotes (1)

1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock. The reported shares represent deferred stock units issued in lieu of the Issuer's monthly dividend pursuant to the reporting person's election. The deferred stock units are 100% vested but do not become payable until the earlier to occur of a change of control or the reporting person's death, disability, or separation from service as a director of the Issuer.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 09/02/2025 - 04:13 PM Learn about SEC filing dates

FAQ

What did ORC director Ava L. Parker report on Form 4?

The filing reports Ava L. Parker received 1,493 deferred stock units on 08/28/2025 issued in lieu of her monthly dividend and now beneficially owns 89,467 shares.

What is a deferred stock unit in this Form 4 for ORC?

Each deferred stock unit represents a right to receive one share of Orchid Island Capital common stock when payable under the plan.

Are the deferred stock units vested and payable immediately?

The deferred stock units are stated as 100% vested but are payable only upon a change of control, death, disability, or separation from service.

When was the Form 4 signed and filed for this transaction?

The Form 4 is signed by Ava Parker on 09/02/2025 reporting the transaction dated 08/28/2025.

Does this Form 4 reflect a cash transaction or sale of shares?

No. The Form 4 discloses a non-cash issuance of deferred stock units issued in lieu of a dividend election.

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^*

Parker Ava L

(Last) (First) (Middle)

10589 VERSAILLES BOULEVARD

(Street)

WELLINGTON FL 33449

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Orchid Island Capital, Inc. [ ORC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

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

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
Deferred Stock Units	(1)	08/28/2025		A		1,493(2)		(3)	(3)	Common Stock	1,493	$7.07	89,467	D

Explanation of Responses:

1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock.

2. The reported shares represent deferred stock units issued in lieu of the Issuer's monthly dividend pursuant to the reporting person's election.

3. The deferred stock units are 100% vested but do not become payable until the earlier to occur of a change of control or the reporting person's death, disability, or separation from service as a director of the Issuer.

	/s/ Ava Parker	09/02/2025
	** 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.