X0306 4 2020-04-01 0001518621 Orchid Island Capital, Inc. ORC 0001303084 Cauley Robert E C/O BIMINI MORTGAGE MANAGEMENT, INC. 3305 FLAMINGO DRIVE, SUITE 100 VERO BEACH FL 32963 true true CEO Common Stock 2020-04-01 4 M 0 691 2.95 A 102943 D Common Stock 2020-04-01 4 M 0 1147 2.95 A 104090 D These shares represent 691 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person on March 15, 2017 pursuant to the Issuer's 2012 Long Term Incentive Compensation Plan and 2016 Long Term Equity Incentive Compensation Plan. Each Performance Unit represents the right to receive one share of the Company's common stock subject to the Reporting Person continuing to serve as an executive officer of the Issuer, and are earned at a rate of 10% per quarter commencing with the quarter ended March 31, 2018 and concluding with the quarter ended June 30, 2020. These shares represent 1,147 shares of the Company's common stock issued upon the vesting of Performance Units awarded to the Reporting Person on April 6, 2018 pursuant to the Issuer's 2012 Long Term Incentive Compensation Plan and 2017 Long Term Equity Incentive Compensation Plan. Each Performance Unit represents the right to receive one share of the Company's common stock subject to the Reporting Person continuing to serve as an executive officer of the Issuer, and are earned at a rate of 10% per quarter commencing with the quarter ended March 31, 2019 and concluding with the quarter ended June 30, 2021. The price represents the closing price of the Company's common stock on March 30, 2020. /s/ Robert E. Cauley 2020-04-02