FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Haas G Hunter IV 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 Financial Officer
(Last)          (First)          (Middle)
C/O BIMINI CAPITAL MANAGEMENT, INC., 3305 FLAMINGO DRIVE
3. Date of Earliest Transaction (MM/DD/YYYY)
3/25/2022
(Street)
VERO BEACH, FL 32963
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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  3/25/2022    M    4778 (1) A $0  135188  D   
Common Stock  3/25/2022    F    1737 (3) D $3.35 (2) 133451  D   
Common Stock  3/28/2022    A    58947 (4) A $0  192398  D   
Common Stock  3/28/2022    F    21428 (5) D $3.36 (6) 170970  D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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) 3/25/2022    M        4778.5    (1)  (1) Common Stock  4778.5  $0  43006.5  D   
Performance Units   (7) 3/28/2022    A     58947       (7)  (7) Common Stock  58947  $0  101953.5  D   

Explanation of Responses:
(1)  These shares represent 4,778 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person on March 22, 2021 pursuant to the Issuer's 2012 Long Term Incentive Compensation Plan and 2020 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, 2022.
(2)  The price represents the closing price of the Company's common stock on March 25, 2022.
(3)  The 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 vesting of shares that occurred on March 25, 2022.
(4)  Unrestricted shares of the Issuer's common stock issued under the 2021 Equity Incentive Compensation Plan and the 2017 Long-Term Incentive Compensation Plan, the 2019 Long-Term Incentive Compensation Plan and the 2021 Long-Term Incentive Compensation Plan.
(5)  The 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 awarding of shares that occurred on March 28, 2022.
(6)  The price represents the closing price of the Company's common stock on March 28, 2022.
(7)  Performance units issued under the 2021 Equity Incentive Compensation Plan and the 2017 Long-Term Incentive Compensation Plan, the 2019 Long-Term Incentive Compensation Plan and the 2021 Long Term Incentive Compensation Plan. Each performance unit represents a contingent right to receive one share of the Issuer's common stock. The performance units are earned at the rate of 10% per quarter commencing with the quarter ending March 31, 2023 and concluding with the quarter ending June 30, 2025. The number of performance units actually earned by the Reporting Person is subject to adjustment based on the Issuer's achievement of certain performance goals as set forth in a performance unit award agreement by and between the Issuer and the Reporting Person.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Haas G Hunter IV
C/O BIMINI CAPITAL MANAGEMENT, INC.
3305 FLAMINGO DRIVE
VERO BEACH, FL 32963
X
Chief Financial Officer

Signatures
/s/ G. Hunter Haas, IV 3/29/2022
**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 control number.
Orchid Island Capital (NYSE:ORC)
Historical Stock Chart
From Dec 2022 to Jan 2023 Click Here for more Orchid Island Capital Charts.
Orchid Island Capital (NYSE:ORC)
Historical Stock Chart
From Jan 2022 to Jan 2023 Click Here for more Orchid Island Capital Charts.