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Get filing alertsOrchid Island Capital expands buyback authorization by 25M shares, book value up ~2.3-2.8%
Filed June 22, 2026 · Period ending June 22, 2026 · ~1 min read
Key Changes
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Board authorized additional 25M shares for repurchase, bringing total authorization to 26.6M shares (13.3% of outstanding). Program has no termination date and may be suspended at company's discretion.
Item 8.01 verify on EDGAR → -
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Estimated book value per share rose to $7.24-$7.28 as of June 18, 2026, up approximately 2.3-2.8% from March 31, 2026 quarter-end. Estimate is preliminary and unaudited.
Exhibit 99.1 view on EDGAR → -
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Repurchases may occur through open market transactions, block purchases, or privately negotiated deals, subject to Rule 10b-18 restrictions. Timing and amount remain at management's discretion.
Item 8.01 verify on EDGAR →
Summary
Orchid Island Capital disclosed two positive developments: a substantial expansion of its stock repurchase program and rising book value. The Board authorized an additional 25 million shares for buyback, bringing total authorization to 26.6 million shares—roughly 13.3% of shares outstanding.
This signals management's view that the stock trades below intrinsic value and represents a meaningful capital allocation shift toward returning capital to shareholders. The company also estimated book value per share at $7.24-$7.28 as of June 18, 2026, up 2.3-2.8% from the March 31 quarter-end. For a mortgage REIT, book value growth is a core performance metric reflecting net asset value changes.
The combination of rising book value and an expanded buyback authorization suggests management sees an opportunity to repurchase shares at a discount to net asset value, which can be accretive to remaining shareholders. The repurchase program has no expiration date but carries no obligation to execute, leaving management flexibility to act based on market conditions and stock price.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
As part of the Repurchase Program, shares may be purchased in open market transactions, including through block purchases, through privately negotiated transactions, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Open market repurchases will be made in accordance with Exchange Act Rule 10b-18, which sets certain restrictions on the method, timing, price and volume of open market stock repurchases.
The company disclosed the methods it may use to execute the repurchases, including open market transactions, block purchases, privately negotiated deals, or through Rule 10b5-1 trading plans. Open market purchases will comply with Rule 10b-18 restrictions on method, timing, price, and volume. This provides transparency on how the buybacks will be conducted.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 15, 2026 · How we verify