Orchid Island (ORC) CEO receives 3,694 shares from vesting awards

Rhea-AI Filing Summary

Orchid Island Capital CEO Robert E. Cauley exercised performance-based equity awards, receiving 3,694 shares of common stock at a stated price of $0.0000 per share. The transaction reflects the vesting of previously granted Performance Units under the company’s equity incentive plans.

Following these transactions, Cauley directly holds 223,290 shares of Orchid Island Capital common stock. Cash was paid instead of issuing fractional shares, based on the closing share price on March 25, 2026, indicating this is a routine, compensation-related equity settlement rather than an open-market trade.

Insider Trade Summary

3,694.18 shares exercised/converted

Mixed 2 txns

Insider Cauley Robert E

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Performance Units	3,694.18	$0.00	--
Exercise	Common Stock	3,694	$0.00	--

Holdings After Transaction: Performance Units — 130,689.56 shares (Direct); Common Stock — 223,290 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Cauley Robert E

(Last) (First) (Middle)

3305 FLAMINGO DRIVE

(Street)

VERO BEACH FLORIDA 32963

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/26/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/26/2026		M		3,694(1)	A	$0	223,290	D

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
Performance Units	(1)	03/26/2026		M			3,694.18	(1)	(1)	Common Stock	3,694.18	$0	130,689.56	D

Explanation of Responses:

1. 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 March 25, 2026.

	/s/ Robert E. Cauley	03/27/2026
	** 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)

FAQ

What insider transaction did Orchid Island Capital (ORC) report for its CEO?

Orchid Island Capital reported that CEO Robert E. Cauley acquired 3,694 common shares through the exercise of Performance Units. These units vested under the company’s equity incentive plans, making this a routine, compensation-related transaction rather than an open-market stock purchase or sale.

How many Orchid Island Capital (ORC) shares does the CEO hold after this Form 4?

After the reported transactions, CEO Robert E. Cauley directly holds 223,290 shares of Orchid Island Capital common stock. This position reflects equity awards that vested and converted into shares, emphasizing ongoing alignment of executive compensation with the company’s share performance.

Were the Orchid Island Capital (ORC) CEO’s new shares from open-market buying or vesting?

The new shares came from vesting, not open-market buying. Performance Units granted under Orchid Island’s equity incentive plans vested and converted into 3,694 common shares, with cash paid in lieu of fractional shares based on the March 25, 2026 closing price.

What are Performance Units in the Orchid Island Capital (ORC) CEO’s Form 4?

Performance Units are equity awards that convert into common stock when performance and vesting conditions are met. In this case, vested Performance Units granted in 2023 and 2024 converted into 3,694 Orchid Island common shares as part of the CEO’s long-term incentive compensation.

Did Orchid Island Capital (ORC) pay cash for any part of the CEO’s equity vesting?

Cash was paid only instead of issuing fractional shares. When the CEO’s Performance Units vested and converted into common stock, any fractional share amounts were settled in cash using Orchid Island Capital’s closing stock price on March 25, 2026, a common administrative practice.