What was the size of the authorization increase announced on June 22, 2026?

The Board approved an increase of 25,000,000 shares, bringing total remaining authorization to 26,612,580 shares. This represents approximately 13.3% of the company's outstanding shares as of the authorization date.

How many shares has ORC actually repurchased under the program to date?

Since inception of the program in July 2015 through June 30, 2026, the company repurchased 7,364,383 shares at a cumulative cost of $92.1 million, for a weighted average price of $12.51 per share. In the first half of 2026 alone, it repurchased 1,106,557 shares at $6.64 per share.

Does this authorization require ORC to repurchase any shares?

No. The authorization does not obligate the company to acquire any particular amount of common stock. The timing, manner, price and amount of repurchases are determined at management's discretion and subject to economic and market conditions, applicable legal requirements and other factors. The program may be suspended or discontinued without prior notice.

How does this buyback fit with ORC's recent equity issuances?

ORC has been issuing shares via ATM (at-the-market) agreements to raise capital for its RMBS portfolio. Between February 2025 and June 2026, it issued approximately 108.3 million shares for roughly $583 million in gross proceeds. The expanded buyback authorization allows the company to manage overall share count and return capital to shareholders.

When does the stock repurchase program expire?

The program has no termination date, giving the Board ongoing flexibility to repurchase shares as market conditions and capital allocation priorities warrant.

What execution method does ORC use for repurchases?

The filing does not specify the execution mechanism (Rule 10b-18 open-market, 10b5-1 plan, or other method) for the buyback. ORC retains full discretion over the timing and manner of repurchases.

ORC 8-K Filed 2026-07-23 New authorization

Orchid Island Capital authorizes $137.7M stock repurchase

Board increases buyback program by 25M shares to 26.6M remaining authorization as of June 2026

Authorization$138M

Authorization (shares)25.0M

MechanismNot specified

What the filing says

On June 22, 2026, Orchid Island Capital's Board of Directors approved an increase in the company's stock repurchase program, authorizing the repurchase of up to an additional 25,000,000 shares of common stock. This authorization brings the total remaining authorization under the stock repurchase program to 26,612,580 shares, representing approximately 13.3% of the company's currently outstanding shares of common stock as of the announcement date.

The company reported that from the inception of the stock repurchase program through June 30, 2026, it had repurchased a total of 7,364,383 shares at an aggregate cost of approximately $92.1 million, for a weighted average price of $12.51 per share. During the three and six months ended June 30, 2026, the company repurchased 1,106,557 shares at an aggregate cost of approximately $7.3 million, for a weighted average price of $6.64 per share.

The stock repurchase program has no termination date. The timing, manner, price and amount of any repurchases are determined by the company in its discretion and are subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the company to acquire any particular amount of common stock and the program may be suspended or discontinued at the company's discretion without prior notice.

On June 22, 2026, the Board of Directors approved an increase in the number of shares of the Company's common stock available in the stock repurchase program for up to an additional 25,000,000 shares, bringing the remaining authorization under the stock repurchase program to 26,612,580 shares, representing approximately 13.3% of the Company's currently outstanding shares of common stock. — Orchid Island Capital, Inc. 8-K filing · View on SEC EDGAR →

What this means

Orchid Island Capital, a mortgage REIT, expanded its buyback authorization by 25 million shares—the largest single increase in its program's history dating to 2015. With 26.6 million shares now authorized (13.3% of the June 2026 outstanding share count of 199.6 million), the company signals confidence in its strategy despite a complex macroeconomic backdrop. During the first half of 2026, ORC repurchased approximately 1.1 million shares at an average price of $6.64, compared to its all-time cumulative weighted average of $12.51 per share. The buyback provides a counterweight to the company's recent equity issuances under its ATM programs, which added roughly 108 million shares for ~$583 million in gross proceeds since February 2025.

Frequently asked questions

What was the size of the authorization increase announced on June 22, 2026?: The Board approved an increase of 25,000,000 shares, bringing total remaining authorization to 26,612,580 shares. This represents approximately 13.3% of the company's outstanding shares as of the authorization date.
How many shares has ORC actually repurchased under the program to date?: Since inception of the program in July 2015 through June 30, 2026, the company repurchased 7,364,383 shares at a cumulative cost of $92.1 million, for a weighted average price of $12.51 per share. In the first half of 2026 alone, it repurchased 1,106,557 shares at $6.64 per share.
Does this authorization require ORC to repurchase any shares?: No. The authorization does not obligate the company to acquire any particular amount of common stock. The timing, manner, price and amount of repurchases are determined at management's discretion and subject to economic and market conditions, applicable legal requirements and other factors. The program may be suspended or discontinued without prior notice.
How does this buyback fit with ORC's recent equity issuances?: ORC has been issuing shares via ATM (at-the-market) agreements to raise capital for its RMBS portfolio. Between February 2025 and June 2026, it issued approximately 108.3 million shares for roughly $583 million in gross proceeds. The expanded buyback authorization allows the company to manage overall share count and return capital to shareholders.
When does the stock repurchase program expire?: The program has no termination date, giving the Board ongoing flexibility to repurchase shares as market conditions and capital allocation priorities warrant.
What execution method does ORC use for repurchases?: The filing does not specify the execution mechanism (Rule 10b-18 open-market, 10b5-1 plan, or other method) for the buyback. ORC retains full discretion over the timing and manner of repurchases.

authorization mortgage-reit expansion share-repurchase-program orchid-island-capital capital-allocation

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.