This out of bounds from a 1-4 set works especially well against teams that look to tightly guard the offensive players. The inbounds passer has 3 potential passes for scoring options, as well as the safety valve. You might find this to be a less effective scoring play if the defense sags off, thereby taking away the cuts to the basket.
In a 1-4 out of bounds set, the players position themselves in a 1-4 set, as shown, while the inbounder takes that ball out from the baseline.
When the official hands the basketball to O3, O4 sets a cross screen for O5. O5 sets up his defender and then cuts off the screen to the ball side of the basket.
After setting the screen, O4 rolls to the weakside of the basket.
O2 cuts to the short or deep corner and may be open, especially if his defender cheats in the lane to help.
O1 is the safety valve.
O3 has the three passing options as shown in the diagram.