--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-21-138494" form_type: "8-K" ticker: "ONL" cik: "0001873923" company_name: "Orion Properties Inc." filed_at: "2021-11-15T23:59:59+00:00" generated_at: "2026-06-28T08:44:29.462221+00:00" event_type: "other_material" sentiment: "neutral" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Orion Office REIT completes spin-off from Realty Income; begins trading Nov 15 under 'ONL' ## Summary - Portfolio of 92 office properties totaling ~10.5M leasable square feet. - Incurred $620M debt: $425M revolver, $175M term loan, $355M bridge loan; $595M distributed to Realty Income. - New board and executive officers appointed: Paul McDowell CEO, Gavin Brandon CFO, Chris Day COO, Gary Landriau CIO. - Arch Street partner received warrants to purchase up to 1.12M shares of ONL common stock. - Common stock expected to commence trading on NYSE on November 15, 2021. ## SEC filing metadata - accession: 0001104659-21-138494 - form_type: 8-K - ticker: ONL - cik: 0001873923 - company_name: Orion Properties Inc. - filed_at: 2021-11-15T23:59:59+00:00 - event_type: other_material - sentiment: neutral - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 1.01, 2.01, 2.03, 3.02, 5.01, 5.02, 5.03, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/tm2132857d1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-21-138494 - JSON: https://secwatch.observer/filing/0001104659-21-138494.json - Plain text: https://secwatch.observer/filing/0001104659-21-138494.txt ## Key facts - Executive change Gavin Brandon was appointed as Chief Financial Officer, Executive Vice President, Treasurer and Secretary at Orion Properties Inc.. - Action: appointed - Role: Chief Financial Officer, Executive Vice President, Treasurer and Secretary source text: • Gavin Brandon, as Chief Financial Officer, Executive Vice President, Treasurer and Secretary evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Gary Landriau was appointed as Chief Investment Officer and Executive Vice President at Orion Properties Inc.. - Action: appointed - Role: Chief Investment Officer and Executive Vice President source text: • Gary Landriau, as Chief Investment Officer and Executive Vice President evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Reginald H. Gilyard was appointed as director at Orion Properties Inc.. - Action: appointed - Role: director source text: each of Paul McDowell, Kathleen R. Allen, Ph.D., Reginald H. Gilyard, Richard Lieb and Gregory J. Whyte were appointed to serve as directors on the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Reginald H. Gilyard was appointed as Non-Executive Chairman at Orion Properties Inc.. - Action: appointed - Role: Non-Executive Chairman source text: Mr. Gilyard has been appointed as the Non-Executive Chairman of the Board. evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Paul H. McDowell was appointed as director at Orion Properties Inc.. - Action: appointed - Role: director source text: each of Paul McDowell, Kathleen R. Allen, Ph.D., Reginald H. Gilyard, Richard Lieb and Gregory J. Whyte were appointed to serve as directors on the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Chris Day was appointed as Chief Operating Officer and Executive Vice President at Orion Properties Inc.. - Action: appointed - Role: Chief Operating Officer and Executive Vice President source text: • Chris Day, as Chief Operating Officer and Executive Vice President evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Kathleen R. Allen was appointed as director at Orion Properties Inc.. - Action: appointed - Role: director source text: each of Paul McDowell, Kathleen R. Allen, Ph.D., Reginald H. Gilyard, Richard Lieb and Gregory J. Whyte were appointed to serve as directors on the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Richard Lieb was appointed as director at Orion Properties Inc.. - Action: appointed - Role: director source text: each of Paul McDowell, Kathleen R. Allen, Ph.D., Reginald H. Gilyard, Richard Lieb and Gregory J. Whyte were appointed to serve as directors on the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Paul H. McDowell was appointed as Chief Executive Officer and President at Orion Properties Inc.. - Action: appointed - Role: Chief Executive Officer and President source text: • Paul H. McDowell, as Chief Executive Officer and President evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm - Executive change Gregory J. Whyte was appointed as director at Orion Properties Inc.. - Action: appointed - Role: director source text: each of Paul McDowell, Kathleen R. Allen, Ph.D., Reginald H. Gilyard, Richard Lieb and Gregory J. Whyte were appointed to serve as directors on the Board evidence_url: https://www.sec.gov/Archives/edgar/data/1873923/000110465921138494/0001104659-21-138494-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.