Form 4: City Office REIT Director Michael Mazan Acquires 39,000 Shares

Director Michael Mazan reports the acquisition of 39,000 shares of City Office REIT, Inc. through a HoldCo.

Summary

• On March 19, 2024, Michael Mazan, a director of City Office REIT, Inc. (CIO), acquired 39,000 shares of common stock.
• The shares were purchased at a weighted average price of $4.2249 per share, with individual transactions ranging from $4.22 to $4.23.
• The acquisition was made indirectly through Scarcliffe Beach Holdings Inc. ('HoldCo'), of which Mazan is a member.
• Following the transaction, Mazan beneficially owns 39,000 shares through HoldCo, but disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. A director purchasing shares suggests confidence, but the indirect holding and disclaimer of full beneficial ownership temper the enthusiasm.

Positives

• A director's purchase of company stock can be seen as a positive signal, indicating confidence in the company's future prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders (directors, officers, or those holding more than 10% of a company's shares) buy or sell their company's stock. These filings are closely watched by investors for insights into management's perspective on the company's value and future prospects.

Stakeholder Impact

• The acquisition of shares by a director could positively influence shareholder sentiment.

Key Dates