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[8-K] Orchid Island Capital, Inc. Reports Material Event

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Sunrun Inc. (RUN) � Form 4 insider transaction summary (filed 09-Jul-2025)

Chief Financial Officer Danny Abajian reported three non-derivative transactions dated 07-Jul-2025:

  • Sale (Code S): 8,909 common shares disposed at a weighted-average price of $10.8049 per share. The sale was made solely to satisfy withholding taxes arising from restricted-stock-unit (RSU) vesting (Footnote 1).
  • Gift (Code G): 9,138 shares transferred out of direct ownership at no consideration.
  • Gift (Code G): 9,138 shares received by the Abajian Family Trust, for which the reporting person serves as co-trustee (indirect ownership).

Following the transactions, Abajian’s beneficial stake equals 437,659 directly held shares and 198,697 indirectly held shares. The direct position includes 432,203 unvested RSUs subject to forfeiture until vesting (Footnote 3). No derivative instruments were reported.

The net effect is a cash sale of ~1.9 % of prior direct holdings alongside an internal reclassification of 9,138 shares from direct to trust ownership, leaving total beneficial ownership largely unchanged. As the sale was tax-related and the overall stake remains sizeable, the filing signals routine personal liquidity management rather than a strategic reduction in exposure.

Sunrun Inc. (RUN) � Riepilogo della transazione interna Form 4 (depositato il 09-lug-2025)

Il Direttore Finanziario Danny Abajian ha segnalato tre operazioni non derivate datate 07-lug-2025:

  • Vendita (Codice S): 8.909 azioni ordinarie cedute a un prezzo medio ponderato di 10,8049 $ per azione. La vendita è stata effettuata esclusivamente per soddisfare le imposte da trattenere derivanti dalla maturazione di restricted-stock-unit (RSU) (Nota 1).
  • Donazione (Codice G): 9.138 azioni trasferite fuori dalla proprietà diretta senza alcun corrispettivo.
  • Donazione (Codice G): 9.138 azioni ricevute dal Abajian Family Trust, per il quale il soggetto segnalante è co-amministratore fiduciario (proprietà indiretta).

Dopo le operazioni, la partecipazione beneficiaria di Abajian è pari a 437.659 azioni detenute direttamente e 198.697 azioni detenute indirettamente. La posizione diretta include 432.203 RSU non maturate soggette a confisca fino alla maturazione (Nota 3). Non sono stati segnalati strumenti derivati.

L’effetto netto è una vendita in contanti di circa l�1,9% delle partecipazioni dirette precedenti insieme a una riclassificazione interna di 9.138 azioni dalla proprietà diretta a quella fiduciaria, lasciando la proprietà beneficiaria totale sostanzialmente invariata. Poiché la vendita è stata legata a motivi fiscali e la partecipazione complessiva rimane consistente, la comunicazione indica una gestione ordinaria della liquidità personale piuttosto che una riduzione strategica dell’esposizione.

Sunrun Inc. (RUN) � Resumen de transacciones internas Formulario 4 (presentado el 09-jul-2025)

El Director Financiero Danny Abajian informó tres transacciones no derivadas fechadas el 07-jul-2025:

  • Venta (Código S): 8.909 acciones ordinarias vendidas a un precio promedio ponderado de 10,8049 $ por acción. La venta se realizó únicamente para cubrir impuestos retenidos derivados de la consolidación de unidades restringidas de acciones (RSU) (Nota 1).
  • Donación (Código G): 9.138 acciones transferidas fuera de la propiedad directa sin contraprestación.
  • Donación (Código G): 9.138 acciones recibidas por el Fideicomiso Familiar Abajian, del cual el informante es co-fiduciario (propiedad indirecta).

Tras las transacciones, la participación beneficiaria de Abajian es de 437.659 acciones en propiedad directa y 198.697 acciones en propiedad indirecta. La posición directa incluye 432.203 RSU no consolidadas sujetas a pérdida hasta su consolidación (Nota 3). No se reportaron instrumentos derivados.

El efecto neto es una venta en efectivo de aproximadamente el 1,9 % de las participaciones directas previas junto con una reclasificación interna de 9.138 acciones de propiedad directa a fideicomiso, manteniendo la propiedad beneficiaria total prácticamente sin cambios. Dado que la venta estuvo relacionada con impuestos y la participación total sigue siendo considerable, la presentación indica una gestión rutinaria de liquidez personal en lugar de una reducción estratégica de la exposición.

Sunrun Inc. (RUN) � Form 4 내부� 거래 요약 (2025� 7� 9� 제출)

최고재무책임� Danny Abajian� 2025� 7� 7일자 비파� 거래 � 건을 보고했습니다:

  • 매도 (코드 S): 보통� 8,909주를 주당 가중평� 가� 10.8049달러� 처분했습니다. � 매도� 제한주식단위(RSU) 권리 확정으로 인한 원천징수� 납부� 위해서만 이루어졌습니�(각주 1).
  • 증여 (코드 G): 직접 소유에서 대가 없이 9,138주를 이전했습니다.
  • 증여 (코드 G): 보고자가 공동 수탁자로 있는 Abajian 가� 신탁� 9,138주를 수령했습니다(간접 소유).

거래 이후 Abajian� 실질 지분은 직접 보유 주식 437,659�간접 보유 주식 198,697�입니�. 직접 보유 주식에는 432,203� 미확� RSU가 포함되어 있으�, 권리 확정 전까지 몰수� � 있습니다(각주 3). 파생상품은 보고되지 않았습니�.

순효과는 이전 직접 보유 지분의 � 1.9%� 해당하는 현금 매도왶 9,138주의 직접 소유에서 신탁 소유로의 내부 재분류가 함께 이루어져 전체 실질 소유권은 거의 변동이 없습니다. 매도� 세금 관련이� 전체 지분이 상당� 유지되므�, 이번 보고� 전략� 노출 축소보다� 일상적인 개인 유동� 관리임� 나타냅니�.

Sunrun Inc. (RUN) � Résumé des transactions d’initiés Formulaire 4 (déposé le 09-juil-2025)

Le Directeur Financier Danny Abajian a déclaré trois transactions non dérivées datées du 07-juil-2025 :

  • Vente (Code S) : 8 909 actions ordinaires cédées à un prix moyen pondéré de 10,8049 $ par action. La vente a été réalisée uniquement pour couvrir les impôts à la source liés à l’acquisition des unités d’actions restreintes (RSU) (Note 1).
  • Don (Code G) : 9 138 actions transférées hors de la propriété directe sans contrepartie.
  • Don (Code G) : 9 138 actions reçues par le Abajian Family Trust, dont la personne déclarant est co-trustee (propriété indirecte).

Après ces transactions, la participation bénéficiaire d’Abajian s’élève à 437 659 actions détenues directement et 198 697 actions détenues indirectement. La position directe comprend 432 203 RSU non acquises susceptibles d’être perdues avant acquisition (Note 3). Aucun instrument dérivé n’a été déclaré.

L’effet net est une vente en numéraire d’environ 1,9 % des avoirs directs précédents accompagnée d’une reclassement interne de 9 138 actions de la propriété directe vers la fiducie, laissant la propriété bénéficiaire totale pratiquement inchangée. Comme la vente était liée à des raisons fiscales et que la participation globale reste importante, le dépôt indique une gestion courante de la liquidité personnelle plutôt qu’une réduction stratégique de l’exposition.

Sunrun Inc. (RUN) � Zusammenfassung der Insider-Transaktionen Form 4 (eingereicht am 09. Juli 2025)

Finanzvorstand Danny Abajian meldete drei nicht-derivative Transaktionen vom 07. Juli 2025:

  • Verkauf (Code S): 8.909 Stammaktien wurden zu einem gewichteten Durchschnittspreis von 10,8049 $ pro Aktie veräußert. Der Verkauf erfolgte ausschließlich zur Begleichung von Quellensteuern im Zusammenhang mit der Vesting von Restricted-Stock-Units (RSU) (Fußnote 1).
  • Schenkung (Code G): 9.138 Aktien wurden ohne Gegenleistung aus dem direkten Besitz übertragen.
  • Schenkung (Code G): 9.138 Aktien wurden vom Abajian Family Trust erhalten, bei dem die meldende Person als Miterbe fungiert (indirekter Besitz).

Nach den Transaktionen hält Abajian eine wirtschaftliche Beteiligung von 437.659 direkt gehaltenen Aktien und 198.697 indirekt gehaltenen Aktien. Die direkte Position umfasst 432.203 nicht ausgeübte RSUs, die bis zur Vesting zurückgegeben werden können (Fußnote 3). Es wurden keine derivativen Instrumente gemeldet.

Die Nettoauswirkung ist ein Bargeldverkauf von ca. 1,9 % der vorherigen Direktbeteiligung sowie eine interne Umbuchung von 9.138 Aktien vom direkten Besitz in den Trust, wodurch die gesamte wirtschaftliche Beteiligung weitgehend unverändert bleibt. Da der Verkauf steuerbedingt war und die Gesamtbeteiligung erheblich bleibt, signalisiert die Meldung eine routinemäßige persönliche Liquiditätsverwaltung und keine strategische Reduzierung der Beteiligung.

Positive
  • CFO retains a sizeable 636,356-share economic interest, maintaining strong alignment with shareholder outcomes.
  • Sale proceeds explicitly earmarked for tax withholding, mitigating concerns of opportunistic disposal.
Negative
  • Insider sale of 8,909 shares, albeit small, can be perceived as a mildly negative sentiment signal.

Insights

TL;DR: Routine tax-driven sale; overall stake intact—neutral signal.

The CFO disposed of 8,909 shares (~$96k) to meet RSU tax liability and shifted an equal number to a family trust. Total beneficial ownership (636,356 shares, incl. 432k unvested RSUs) remains substantial, indicating continued alignment with shareholders. Magnitude (<2 % of holdings) and stated purpose reduce negative interpretation. No derivative activity or broad unloading seen, so market impact is neutral.

TL;DR: Internal gift transfer cleanly disclosed; compliance intact.

The dual gift entries reflect transparent estate planning rather than clandestine distribution. Proper Rule 10b5-1 checkbox unchecked, suggesting discretionary timing yet still within allowable windows. Presence of power-of-attorney signature shows delegated filing procedure. No red flags under Section 16 observed; therefore, corporate-governance impact is minimal.

Sunrun Inc. (RUN) � Riepilogo della transazione interna Form 4 (depositato il 09-lug-2025)

Il Direttore Finanziario Danny Abajian ha segnalato tre operazioni non derivate datate 07-lug-2025:

  • Vendita (Codice S): 8.909 azioni ordinarie cedute a un prezzo medio ponderato di 10,8049 $ per azione. La vendita è stata effettuata esclusivamente per soddisfare le imposte da trattenere derivanti dalla maturazione di restricted-stock-unit (RSU) (Nota 1).
  • Donazione (Codice G): 9.138 azioni trasferite fuori dalla proprietà diretta senza alcun corrispettivo.
  • Donazione (Codice G): 9.138 azioni ricevute dal Abajian Family Trust, per il quale il soggetto segnalante è co-amministratore fiduciario (proprietà indiretta).

Dopo le operazioni, la partecipazione beneficiaria di Abajian è pari a 437.659 azioni detenute direttamente e 198.697 azioni detenute indirettamente. La posizione diretta include 432.203 RSU non maturate soggette a confisca fino alla maturazione (Nota 3). Non sono stati segnalati strumenti derivati.

L’effetto netto è una vendita in contanti di circa l�1,9% delle partecipazioni dirette precedenti insieme a una riclassificazione interna di 9.138 azioni dalla proprietà diretta a quella fiduciaria, lasciando la proprietà beneficiaria totale sostanzialmente invariata. Poiché la vendita è stata legata a motivi fiscali e la partecipazione complessiva rimane consistente, la comunicazione indica una gestione ordinaria della liquidità personale piuttosto che una riduzione strategica dell’esposizione.

Sunrun Inc. (RUN) � Resumen de transacciones internas Formulario 4 (presentado el 09-jul-2025)

El Director Financiero Danny Abajian informó tres transacciones no derivadas fechadas el 07-jul-2025:

  • Venta (Código S): 8.909 acciones ordinarias vendidas a un precio promedio ponderado de 10,8049 $ por acción. La venta se realizó únicamente para cubrir impuestos retenidos derivados de la consolidación de unidades restringidas de acciones (RSU) (Nota 1).
  • Donación (Código G): 9.138 acciones transferidas fuera de la propiedad directa sin contraprestación.
  • Donación (Código G): 9.138 acciones recibidas por el Fideicomiso Familiar Abajian, del cual el informante es co-fiduciario (propiedad indirecta).

Tras las transacciones, la participación beneficiaria de Abajian es de 437.659 acciones en propiedad directa y 198.697 acciones en propiedad indirecta. La posición directa incluye 432.203 RSU no consolidadas sujetas a pérdida hasta su consolidación (Nota 3). No se reportaron instrumentos derivados.

El efecto neto es una venta en efectivo de aproximadamente el 1,9 % de las participaciones directas previas junto con una reclasificación interna de 9.138 acciones de propiedad directa a fideicomiso, manteniendo la propiedad beneficiaria total prácticamente sin cambios. Dado que la venta estuvo relacionada con impuestos y la participación total sigue siendo considerable, la presentación indica una gestión rutinaria de liquidez personal en lugar de una reducción estratégica de la exposición.

Sunrun Inc. (RUN) � Form 4 내부� 거래 요약 (2025� 7� 9� 제출)

최고재무책임� Danny Abajian� 2025� 7� 7일자 비파� 거래 � 건을 보고했습니다:

  • 매도 (코드 S): 보통� 8,909주를 주당 가중평� 가� 10.8049달러� 처분했습니다. � 매도� 제한주식단위(RSU) 권리 확정으로 인한 원천징수� 납부� 위해서만 이루어졌습니�(각주 1).
  • 증여 (코드 G): 직접 소유에서 대가 없이 9,138주를 이전했습니다.
  • 증여 (코드 G): 보고자가 공동 수탁자로 있는 Abajian 가� 신탁� 9,138주를 수령했습니다(간접 소유).

거래 이후 Abajian� 실질 지분은 직접 보유 주식 437,659�간접 보유 주식 198,697�입니�. 직접 보유 주식에는 432,203� 미확� RSU가 포함되어 있으�, 권리 확정 전까지 몰수� � 있습니다(각주 3). 파생상품은 보고되지 않았습니�.

순효과는 이전 직접 보유 지분의 � 1.9%� 해당하는 현금 매도왶 9,138주의 직접 소유에서 신탁 소유로의 내부 재분류가 함께 이루어져 전체 실질 소유권은 거의 변동이 없습니다. 매도� 세금 관련이� 전체 지분이 상당� 유지되므�, 이번 보고� 전략� 노출 축소보다� 일상적인 개인 유동� 관리임� 나타냅니�.

Sunrun Inc. (RUN) � Résumé des transactions d’initiés Formulaire 4 (déposé le 09-juil-2025)

Le Directeur Financier Danny Abajian a déclaré trois transactions non dérivées datées du 07-juil-2025 :

  • Vente (Code S) : 8 909 actions ordinaires cédées à un prix moyen pondéré de 10,8049 $ par action. La vente a été réalisée uniquement pour couvrir les impôts à la source liés à l’acquisition des unités d’actions restreintes (RSU) (Note 1).
  • Don (Code G) : 9 138 actions transférées hors de la propriété directe sans contrepartie.
  • Don (Code G) : 9 138 actions reçues par le Abajian Family Trust, dont la personne déclarant est co-trustee (propriété indirecte).

Après ces transactions, la participation bénéficiaire d’Abajian s’élève à 437 659 actions détenues directement et 198 697 actions détenues indirectement. La position directe comprend 432 203 RSU non acquises susceptibles d’être perdues avant acquisition (Note 3). Aucun instrument dérivé n’a été déclaré.

L’effet net est une vente en numéraire d’environ 1,9 % des avoirs directs précédents accompagnée d’une reclassement interne de 9 138 actions de la propriété directe vers la fiducie, laissant la propriété bénéficiaire totale pratiquement inchangée. Comme la vente était liée à des raisons fiscales et que la participation globale reste importante, le dépôt indique une gestion courante de la liquidité personnelle plutôt qu’une réduction stratégique de l’exposition.

Sunrun Inc. (RUN) � Zusammenfassung der Insider-Transaktionen Form 4 (eingereicht am 09. Juli 2025)

Finanzvorstand Danny Abajian meldete drei nicht-derivative Transaktionen vom 07. Juli 2025:

  • Verkauf (Code S): 8.909 Stammaktien wurden zu einem gewichteten Durchschnittspreis von 10,8049 $ pro Aktie veräußert. Der Verkauf erfolgte ausschließlich zur Begleichung von Quellensteuern im Zusammenhang mit der Vesting von Restricted-Stock-Units (RSU) (Fußnote 1).
  • Schenkung (Code G): 9.138 Aktien wurden ohne Gegenleistung aus dem direkten Besitz übertragen.
  • Schenkung (Code G): 9.138 Aktien wurden vom Abajian Family Trust erhalten, bei dem die meldende Person als Miterbe fungiert (indirekter Besitz).

Nach den Transaktionen hält Abajian eine wirtschaftliche Beteiligung von 437.659 direkt gehaltenen Aktien und 198.697 indirekt gehaltenen Aktien. Die direkte Position umfasst 432.203 nicht ausgeübte RSUs, die bis zur Vesting zurückgegeben werden können (Fußnote 3). Es wurden keine derivativen Instrumente gemeldet.

Die Nettoauswirkung ist ein Bargeldverkauf von ca. 1,9 % der vorherigen Direktbeteiligung sowie eine interne Umbuchung von 9.138 Aktien vom direkten Besitz in den Trust, wodurch die gesamte wirtschaftliche Beteiligung weitgehend unverändert bleibt. Da der Verkauf steuerbedingt war und die Gesamtbeteiligung erheblich bleibt, signalisiert die Meldung eine routinemäßige persönliche Liquiditätsverwaltung und keine strategische Reduzierung der Beteiligung.

false 0001518621 0001518621 2025-07-09 2025-07-09
     
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): July 9, 2025
 
Orchid Island Capital, Inc.
(Exact Name of Registrant as Specified in Charter)
 
Maryland
001-35236
27-3269228
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
3305 Flamingo Drive, Vero Beach, Florida 32963
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code (772) 231-1400
 
N/A
(Former Name or Former Address, if Changed Since Last Report)
     
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class:
Trading symbol:         
Name of each exchange on which registered:
Common Stock, par value $0.01 per share
ORC
NYSE
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 

 
 
Item 2.02. Results of Operations and Financial Condition.
 
On July 9, 2025, Orchid Island Capital, Inc. (the “Company”) announced its estimated book value of $7.21 per share as of June 30, 2025, certain details of its RMBS portfolio as of June 30, 2025, and estimated GAAP net loss per share of $0.29, including an estimated $0.45 per share of net realized and unrealized losses on RMBS and derivative instruments, for the quarter ended June 30, 2025. These figures and the estimated book value per share and estimated GAAP net loss per share are preliminary, subject to change, and subject to review by the Company’s independent registered public accounting firm. 
  Item 8.01. Other Events.  
On July 9, 2025, the Company announced that the Board of Directors of the Company declared a dividend for the month of July 2025 of $0.12 per share of the Company’s common stock, to be paid on August 28, 2025, to holders of record on July 31, 2025, with an ex-dividend date of July 31, 2025. In addition, the Company announced certain details of its RMBS portfolio as of June 30, 2025, as well as certain other information regarding the Company. A copy of the Company’s press release announcing the dividend and the other information regarding the Company is attached hereto as Exhibit 99.1 and incorporated herein by this reference.
 
Caution About Forward-Looking Statements.
 
This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws, including, but not limited to, statements about the Company’s distributions. These forward-looking statements are based upon the Company’s present expectations, but the Company cannot assure investors that actual results will not vary from the expectations contained in the forward-looking statements. Investors should not place undue reliance upon forward looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. All forward-looking statements speak only as of the date on which they are made. New risks and uncertainties arise over time, and it is not possible to predict those events or how they may affect the Company. Except as required by law, the Company is not obligated to, and does not intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
 
Item 9.01. Financial Statements and Exhibits.
 
(d) Exhibits
 
Exhibit No.
 
Description
99.1
 
Press Release dated July 9, 2025
104
 
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 

 
 
Signatures
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: July 9, 2025
 
ORCHID ISLAND CAPITAL, INC.
   
   
 
By:
/s/ Robert E. Cauley
   
Robert E. Cauley
   
Chairman and Chief Executive Officer
 
 

FAQ

How many Sunrun (RUN) shares did CFO Danny Abajian sell on 07-Jul-2025?

He sold 8,909 common shares at a weighted-average price of $10.8049 per share.

What was the purpose of the Sunrun share sale reported in the Form 4?

Footnote 1 states the shares were sold to cover tax obligations from the settlement of vested RSUs.

Did the CFO transfer any RUN shares to a trust?

Yes. 9,138 shares were gifted to the Abajian Family Trust, moving from direct to indirect ownership.

How many Sunrun shares does the CFO own after the transactions?

He holds 437,659 shares directly and 198,697 shares indirectly, inclusive of 432,203 unvested RSUs.

Were any derivative securities involved in this Sunrun Form 4 filing?

No. Table II lists no derivative transactions; only common-stock movements were reported.
Orchid Is Cap Inc

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