Form 4: Orchid Island Capital CFO G. Hunter Haas IV Reports Stock Transactions
SEC Form 4 Filing
G. Hunter Haas IV, CFO of Orchid Island Capital, reports the vesting of performance units and subsequent stock transactions to cover tax obligations.
Summary
- On March 26, 2024, G. Hunter Haas IV, the CFO of Orchid Island Capital, reported transactions involving the company's common stock.
- These transactions included the vesting of performance units, resulting in the acquisition of 3,153 shares of common stock.
- Haas also disposed of 1,178 shares to satisfy tax withholding obligations related to the vesting of these shares.
- The price per share for the disposed shares was $9, representing the closing price of Orchid Island Capital's common stock on March 25, 2024.
- Following these transactions, Haas directly owns 62,850 shares of Orchid Island Capital's common stock and 32,681.44 performance units.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation and stock transactions, with no inherently positive or negative implications.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they are related to executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| March 22, 2021 | Date of performance units awarded to the Reporting Person pursuant to the Issuer's 2012 Equity Incentive Plan and 2020 Long Term Equity Incentive Compensation Plan. |
| March 28, 2022 | Date of performance units awarded to the Reporting Person pursuant to the Issuer's 2021 Equity Incentive Plan and 2021 Long Term Equity Incentive Compensation Plan. |
| April 13, 2023 | Date of performance units awarded to the Reporting Person pursuant to the Issuer's 2021 Equity Incentive Plan and 2022 Long Term Equity Incentive Compensation Plan. |
| March 25, 2024 | Date used to determine the closing price of the Issuer's common stock ($9) for tax withholding. |
| 03/26/2024 | Date of the reported transactions: vesting of performance units and disposal of shares for tax obligations. |
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