X0508 4 2026-03-12 0 0001873923 Orion Properties Inc. ONL 0001271688 MCDOWELL PAUL H C/O ORION PROPERTIES INC. 3200 E. CAMELBACK ROAD, SUITE 100 PHOENIX AZ 85018 1 1 0 0 See Remarks. 0 Common Stock 2026-03-12 4 A 0 217573 0 A 744147 D Reflects restricted stock units awarded March 12, 2026, to the Reporting Person pursuant to the Issuer's Equity Plan. Such restricted stock units vest ratably on each of the first, second and third anniversaries of March 4, 2026, subject to the Reporting Person's continued service with the Issuer through such applicable vesting date. Chief Executive Officer, President /s/ Paul C. Hughes, by power of attorney 2026-03-16