Director at Orchid Island (ORC) receives dividend in stock units

Q: Why did Orchid Island Capital (ORC) issue deferred stock units instead of a cash dividend?

The filing states the reported shares represent deferred stock units issued in lieu of the monthly dividend , based on the director’s election. This allows the director to receive dividend value in stock-linked units rather than cash, increasing equity-based compensation.

Q: When will the Orchid Island (ORC) deferred stock units granted to the director be paid out?

Although the deferred stock units are fully vested , they are not immediately payable. Payment in common shares occurs upon the earlier of a change of control , or the director’s death, disability, or separation from service at Orchid Island Capital.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Orchid Island Capital director Ava L. Parker received 1,877 deferred stock units as a grant in an acquisition-type transaction. The units were issued on April 30, 2026 in lieu of the company’s monthly cash dividend, based on a reference price of $7.03 per unit.

Each deferred stock unit represents the right to receive one share of Orchid Island’s common stock. The units are fully vested, and Parker now holds 115,415 deferred stock units. However, these units will only be paid out in shares upon a change of control or upon her death, disability, or separation from service as a director.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Parker Ava L

Role null

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	1,877	$7.03	$13K

Holdings After Transaction: Deferred Stock Units — 115,415 shares (Direct, null)

Footnotes (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.

Key Figures

Deferred stock units granted: 1,877 units Reference price per unit: $7.03 per unit Total deferred stock units held: 115,415 units +1 more

4 metrics

Deferred stock units granted 1,877 units Award dated April 30, 2026

Reference price per unit $7.03 per unit Used to determine dividend-equivalent units

Total deferred stock units held 115,415 units Holdings following the April 30, 2026 grant

Conversion ratio 1 unit = 1 share Each deferred stock unit equals one common share right

Key Terms

Deferred Stock Units, change of control, separation from service, 100% vested

4 terms

Deferred Stock Units financial

"The reported shares represent deferred stock units issued in lieu of the Issuer's monthly dividend"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

change of control financial

"payable until the earlier to occur of a change of control or the reporting person's death"

A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.

separation from service financial

"separation from service as a director of the Issuer"

100% vested financial

"The deferred stock units are 100% vested but do not become payable until"

Form 4 Insider Transactions: What Each Field Means →

05/05/2026 - 07:13 PM

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

FLORIDA

33449

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Deferred Stock Units	⁽¹⁾	04/30/2026		A		1,877⁽²⁾		⁽³⁾	⁽³⁾	Common Stock	1,877	$7.03	115,415	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	05/05/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Orchid Island Capital (ORC) report for Ava L. Parker?

Orchid Island Capital reported that director Ava L. Parker received a grant of 1,877 deferred stock units on April 30, 2026. These units were issued in lieu of the company’s monthly dividend and increase her total deferred stock unit holdings to 115,415.

What are the terms of the deferred stock units granted to the Orchid Island (ORC) director?

Each deferred stock unit granted to the Orchid Island director represents a right to receive one share of common stock. The units are 100% vested but are only payable upon a change of control, or the director’s death, disability, or separation from service.

How were the 1,877 deferred stock units for Orchid Island (ORC) valued?

The 1,877 deferred stock units were valued using a reference price of $7.03 per unit. This price reflects the amount used to calculate units issued instead of a cash dividend, aligning the director’s compensation with Orchid Island’s common stock value.

Why did Orchid Island Capital (ORC) issue deferred stock units instead of a cash dividend?

The filing states the reported shares represent deferred stock units issued in lieu of the monthly dividend, based on the director’s election. This allows the director to receive dividend value in stock-linked units rather than cash, increasing equity-based compensation.

When will the Orchid Island (ORC) deferred stock units granted to the director be paid out?

Although the deferred stock units are fully vested, they are not immediately payable. Payment in common shares occurs upon the earlier of a change of control, or the director’s death, disability, or separation from service at Orchid Island Capital.