SEC Form 4 · accession 0001179110-17-004635
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
Mar 13, 2017
Accepted (ET)
Mar 15, 2017 · 4:55 pm EDT
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 | Mar 13, 2017 | A | 6,911 | $9.55 | A | 37,342 | D | |
| Common StockF2 | Mar 13, 2017 | F | 691 | $9.55 | D | 36,651 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance UnitsF3,F4 | — | Mar 13, 2017 | A | 6,911 | A | Mar 31, 2018 | Jun 30, 2020 | Common Stock | 6,911 | 30,426 | D |
Explanation of responses
- F1Shares of the Company's common stock issued under the 2012 Long Term Incentive Compensation Plan and the 2016 Long-Term Equity Incentive Compensation Plan. The price is based on the market closing price on March 13, 2017.
- F2The Reporting Person disposed of these shares of the Company's common stock to the Issuer to satisfy the Reporting Person's tax withholding obligations in connection with the grant of shares that occurred on March 13, 2017.
- F3Performance units issued under the 2012 Long Term Incentive Compensation Plan and the 2016 Long-Term Equity Incentive Compensation Plan. The price is based on the market closing price on March 13, 2017. The performance units are earned at the rate of 10% per quarter commencing with the quarter ending March 31, 2018 and concluding with the quarter ending June 30, 2020.
- F4Each 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 a performance unit award agreement by and between the Issuer and the Reporting Person.