STOCK INCENTIVE PLAN	6 Months Ended
STOCK INCENTIVE PLAN	Jun. 30, 2022
Employee Benefits And Share Based Compensation [Abstract]
Stock incentive Plan	NOTE 8. STOCK INCENTIVE PLAN In 2021, the Company’s Board of Directors adopted, and the stockholders approved, the Orchid Island Capital, Inc. 2021 Equity Incentive Plan (the “2021 Incentive Plan”) to replace the Orchid Island Capital, Inc. 2012 Equity Incentive Plan (the “2012 Incentive Plan” and together with the 2021 Incentive Plan, the “Incentive Plans”). The 2021 Incentive Plan provides for the award of stock options, stock appreciation rights, stock award, performance units, other equity-based awards (and dividend equivalents with respect to awards of performance units and other equity-based awards) and incentive awards. The 2021 Incentive Plan is administered by the Compensation Committee of the Company’s Board of Directors except that the Company’s full Board of Directors will administer awards made to directors who are not employees of the Company or its affiliates. The 2021 Incentive Plan provides for awards of up to an aggregate of 10 % of the issued and outstanding shares of the Company’s common stock (on a fully diluted basis) at the time of the awards, subject to a maximum aggregate 7,366,623 shares of the Company’s common stock that may be issued under the 2021 Incentive Plan. The 2021 Incentive Plan replaces the 2012 Incentive Plan, and no further grants will be made under the 2012 Incentive Plan. However, any outstanding awards under the 2012 Incentive Plan will continue in accordance with the terms of the 2012 Incentive Plan and any award agreement executed in connection with such outstanding awards. Performance Units The Company has issued, and may in the future issue additional, performance units under the Incentive Plans to certain executive officers and employees of its Manager. “Performance Units” vest after the end of a defined performance period, based on satisfaction of the performance conditions set forth in the performance unit agreement. When earned, each Performance Unit will be settled by the issuance of one share of the Company’s common stock, at which time the Performance Unit will be cancelled. The Performance Units contain dividend equivalent rights, which entitle the Participants to receive distributions declared by the Company on common stock, but do not include the right to vote the underlying shares of common stock. Performance Units are subject to forfeiture should the participant no longer serve as an executive officer or employee of the Company or the Manager. Compensation expense for the Performance Units, included in incentive compensation on the statements of operations, is recognized over the remaining vesting period once it becomes probable that the performance conditions will be achieved. The following table presents information related to Performance Units outstanding during the six months ended June 30, 2022 and 2021. ($ in thousands, except per share data) Six Months Ended June 30, 2022 2021 Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested, beginning of period 133,223 $ 5.88 4,554 $ 7.45 Granted 175,572 3.31 137,897 5.88 Vested and issued (26,645) 5.88 (4,554) 7.45 Unvested, end of period 282,150 $ 4.28 137,897 $ 5.88 Compensation expense during period $ 270 $ 113 Unrecognized compensation expense, end of period $ 778 $ 702 Intrinsic value, end of period $ 804 $ 716 Weighted-average remaining vesting term (in years) 1.6 1.9 Stock Awards The Company has issued, and may in the future issue additional, immediately vested common stock under the Incentive Plans to certain executive officers and employees of its Manager. The following table presents information related to fully vested common stock issued during the six months ended June 30, 2022 and 2021. All of the fully vested shares of common stock issued during the six months ended June 30, 2022 and 2021, and the related compensation expense, were granted with respect to service performed during the fiscal years ended December 31, 2021 and 2020, respectively. ($ in thousands, except per share data) Six Months Ended June 30, 2022 2021 Fully vested shares granted 175,572 137,897 Weighted average grant date price per share $ 3.31 $ 5.88 Compensation expense related to fully vested shares of common stock awards $ 581 $ 811 Deferred Stock Units Non-employee directors receive a portion of their compensation in the form of deferred stock unit awards (“DSUs”) pursuant to the Incentive Plans. Each DSU represents a right to receive one share of the Company’s common stock. Beginning in 2022, each non- employee director can elect to receive all of his or her compensation in the form of DSUs. The DSUs are immediately vested and are settled at a future date based on the election of the individual participant. Compensation expense for the DSUs is included in directors’ fees and liability insurance in the statements of operations. The DSUs contain dividend equivalent rights, which entitle the participant to receive distributions declared by the Company on common stock. These dividend equivalent rights are settled in cash or additional DSUs at the participant’s election. The DSUs do not include the right to vote the underlying shares of common stock. The following table presents information related to the DSUs outstanding during the six months ended June 30, 2022 and 2021. ($ in thousands, except per share data) Six Months Ended June 30, 2022 2021 Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Outstanding, beginning of period 142,976 $ 5.38 90,946 $ 5.44 Granted and vested 40,881 3.66 22,528 5.64 Outstanding, end of period 183,857 $ 5.00 113,474 $ 5.48 Compensation expense during period $ 153 $ 120 Intrinsic value, end of period $ 524 $ 589