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
                                                                                  
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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 * Parker Ava L 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
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)
10589 VERSAILLES BOULEVARD
3. Date of Earliest Transaction (MM/DD/YYYY)
2/25/2022
(Street)
WELLINGTON, FL 33449
(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

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
Deferred Stock Units   (1) 2/25/2022    A     657 (2)      (3)  (3) Common Stock  657  $0  44828  D   
Deferred Stock Units   (1) 3/30/2022    A     718 (2)      (3)  (3) Common Stock  718  $0  45546  D   
Deferred Stock Units   (1) 4/1/2022    A     4615       (3)  (3) Common Stock  4615  $0  50161  D   
Deferred Stock Units   (1) 4/1/2022    A     4750       (4)  (4) Common Stock  4750  $3.25  54911  D   

Explanation of Responses:
(1)  Each deferred stock unit represents a right to receive one share of the Issuer's common stock.
(2)  Deferred stock units issued in lieu of the issuer's monthly dividend pursuant to the reporting person's election.
(3)  The deferred stock units are 100% vested but do not become payable until the reporting person's separation from service as a director of the Issuer.
(4)  The reported shares represent deferred stock units granted in lieu of cash compensation. The shares are issuable on the earlier to occur of death, disability, a change in control or separation from service.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Parker Ava L
10589 VERSAILLES BOULEVARD
WELLINGTON, FL 33449
X



Signatures
/s/ Ava L. Parker 4/1/2022
**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.
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