SEC Form 4 · accession 0001179110-15-001152
Orchid Island Capital, Inc. · ORC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert E Cauley
Officer — President, CEO · Director
Period of report
Jan 21, 2015
Accepted (ET)
Jan 22, 2015 · 5:43 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001518621
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 21, 2015 | A | 10,322 | $13.32 | A | 13,322 | D | |
| Common Stock | Jan 21, 2015 | F | 4,126 | $13.32 | D | 9,196 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF2,F3 | — | Jan 21, 2015 | A | 4,129 | A | Mar 13, 2016 | Jun 30, 2018 | Common Stock | 4,129 | 4,129 | D |
Explanation of responses
- F1On January 21, 2014 the Compensation Committee of the Board of Directors approved the issuance of shares to the reporting person under the 2012 Long Term Incentive Compensation Plan. The price is based on the market closing price on January 21, 2014.
- F2On January 21, 2014 the Board of Director's approved the issuance of performance units to the reporting person under the 2012 Long Term Incentive Compensation Plan. The price is based on the market closing price on January 21, 2014. The Performance Units are earned at the rate of 10% per quarter commencing with the quarter ending March 31, 2016 and concluding with the quarter ending June 30, 2018.
- F3Each Performance Unit shall be settled by the issuance of one share of the Company's Common Stock, at which time the Performance Unit shall be cancelled. Each Performance Unit is subject to adjustment as set forth in the award agreement.