Orchid Island Capital (ORC) director updates holdings with 3,472 deferred stock units

Rhea-AI Filing Summary

Orchid Island Capital, Inc. director Frank P. Filipps reported an equity compensation transaction involving deferred stock units. On 01/02/2026, he acquired 3,472 deferred stock units, each representing the right to receive one share of Orchid Island Capital common stock. The filing shows these units at a price of $0, reflecting a grant rather than an open-market purchase.

After this grant, Filipps beneficially owns 46,728 deferred stock units, held in direct ownership form. The units are fully vested but will only be paid out in common shares upon the earlier of a change of control of the company or his death, disability, or separation from service as a director. This filing documents the update to his equity-based holdings.

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
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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^*

FILIPPS FRANK P

(Last) (First) (Middle)

125 VIA PALACIO

(Street)

PALM BEACH GARDENS FL 33418

(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)
01/02/2026

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

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)	01/02/2026		A		3,472		(2)	(2)	Common Stock	3,472	$0	46,728	D

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. Filipps	01/02/2026
	** 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 insider transaction did Orchid Island Capital (ORC) report for 01/02/2026?

On 01/02/2026, director Frank P. Filipps reported acquiring 3,472 deferred stock units, each representing the right to receive one share of Orchid Island Capital common stock.

How many Orchid Island Capital (ORC) deferred stock units does the director own after this transaction?

Following the reported transaction, director Frank P. Filipps beneficially owns 46,728 deferred stock units of Orchid Island Capital, Inc., held as direct ownership.

What does each deferred stock unit represent for Orchid Island Capital (ORC)?

Each deferred stock unit represents a right to receive one share of Orchid Island Capital, Inc. common stock, as stated in the explanation of responses.

When do the Orchid Island Capital (ORC) deferred stock units become payable?

The deferred stock units are 100% vested but become payable only upon the earlier of a change of control or the reporting person’s death, disability, or separation from service as a director.

What was the price for the Orchid Island Capital (ORC) deferred stock units in this transaction?

The reported transaction lists a price of $0 for the 3,472 deferred stock units, indicating they were granted as compensation rather than purchased in the market.

What is the reporting person’s relationship to Orchid Island Capital (ORC)?

The reporting person, Frank P. Filipps, is identified as a director of Orchid Island Capital, Inc. in the filing.