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Orchid Island Capital (ORC) director awarded 3,561 deferred stock units

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

FILIPPS FRANK P reported acquisition or exercise transactions in this Form 4 filing.

Orchid Island Capital director Frank P. Filipps received a grant of 3,561 deferred stock units. These units are fully vested and each represents the right to receive one share of common stock. They will be paid only upon a change of control or his death, disability, or separation from service as a director. Following the award, he holds 50,289 deferred stock units in total, reflecting routine non-cash director compensation rather than an open-market share purchase or sale.

Positive

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Negative

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Insider FILIPPS FRANK P
Role Director
Type Security Shares Price Value
Grant/Award Deferred Stock Units 3,561 $0.00 --
Holdings After Transaction: Deferred Stock Units — 50,289 shares (Direct)
Footnotes (1)
  1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock. 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.
Deferred stock units granted 3,561 units Grant to director Frank P. Filipps on April 1, 2026
Deferred stock units after transaction 50,289 units Total deferred stock units held following the award
Conversion ratio 1 unit : 1 share Each deferred stock unit equals one share of common stock
Vesting status 100% vested Deferred stock units are fully vested upon grant
Deferred Stock Units financial
"Each deferred stock unit represents a right to receive one share"
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"
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
"death, disability, or separation from service as a director"
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
FILIPPS FRANK P
(Last)(First)(Middle)
125 VIA PALACIO
(Street)
PALM BEACH GARDENS FLORIDA 33418
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Deferred Stock Units(1)04/01/2026A3,561 (2) (2)Common Stock3,561$050,289D
Explanation of Responses:
1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock.
2. 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/ Frank P. Filipps04/01/2026
** Signature of Reporting PersonDate
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 Frank P. Filipps?

Orchid Island Capital reported that director Frank P. Filipps received a grant of 3,561 deferred stock units. This is a compensation award, not an open-market trade, and increases his total deferred stock unit holdings to 50,289 linked to the company’s common stock.

What are the key terms of the deferred stock units granted to the ORC director?

Each deferred stock unit granted to the director represents the right to receive one share of Orchid Island Capital common stock. The units are 100% vested but are not payable until a change of control or his death, disability, or separation from service as a director.

Does the Frank P. Filipps Form 4 for Orchid Island Capital involve a stock purchase or sale?

The Form 4 shows a grant of 3,561 deferred stock units to director Frank P. Filipps, not a purchase or sale in the market. It reflects equity-based director compensation rather than a discretionary buy or sell of Orchid Island Capital common shares.

How many Orchid Island Capital deferred stock units does Frank P. Filipps hold after this award?

After receiving 3,561 additional deferred stock units, Frank P. Filipps holds a total of 50,289 deferred stock units. Each unit corresponds to one share of Orchid Island Capital common stock, payable only upon specific events such as change of control or ending board service.

When will the deferred stock units granted to the ORC director become payable?

The deferred stock units are fully vested now but become payable only upon the earlier of a change of control of Orchid Island Capital or the director’s death, disability, or separation from service. Until one of those events occurs, the units remain deferred compensation.