Form 4: City Office REIT Director Michael Mazan Reports Acquisition of Restricted Stock Units

Director Michael Mazan reports the acquisition of restricted stock units in City Office REIT, Inc. as a dividend equivalency payment.

Summary

• On July 24, 2024, Michael Mazan, a director of City Office REIT, Inc. (CIO), acquired 195 Restricted Stock Units (RSUs) as a dividend equivalency payment.
• These RSUs convert into common stock on a one-for-one basis under the company's Equity Incentive Plan.
• The RSUs vest in three substantially equal installments on the annual anniversaries of the initial grant date, contingent upon continued service.
• Following the transaction, Mazan directly owns 11,209 derivative securities.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a routine transaction of restricted stock units as part of a dividend equivalency program. It indicates continued alignment of the director's interests with the company's performance.

Future Outlook

Vested shares will be delivered to the reporting person promptly upon vesting of the related restricted stock units.

Industry Context

Form 4 filings are standard disclosures required by the SEC for insiders of publicly traded companies, providing transparency into their transactions in the company's securities. This filing indicates a director's continued investment in the company through dividend equivalency payments in the form of RSUs.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders as it shows continued investment by a director in the company.

Key Dates