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

Director Michael Mazan reports acquiring 366 Restricted Stock Units of City Office REIT, Inc. as a dividend equivalency payment.

Summary

• On April 24, 2025, Michael Mazan, a director of City Office REIT, Inc. (CIO), acquired 366 Restricted Stock Units (RSUs).
• These RSUs were received as a dividend equivalency payment related to previously issued RSUs.
• The RSUs convert into common stock on a one-for-one basis under the company's Equity Incentive Plan.
• The reported transaction increased Mazan's holdings to 18,561 derivative securities.
• The RSUs vest in three substantially equal installments on each of the first three annual anniversaries of the initial Grant Date, generally subject to the Participant's continued service through each applicable vesting date.
• Vested shares will be delivered to the reporting person promptly upon vesting of the related restricted stock units.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of a director's stock-based compensation. There are no explicit positive or negative implications.

Positives

• The acquisition of RSUs as a dividend equivalency payment suggests the company is rewarding its directors, which can be seen as a positive sign.

Future Outlook

The document does not contain specific forward-looking statements, but it implies continued operation of the Equity Incentive Plan.

Industry Context

Form 4 filings are standard disclosures for corporate insiders and provide transparency into their transactions in the company's securities. This filing indicates ongoing director compensation practices at City Office REIT.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it reflects ongoing compensation practices.
• Employees may view this as a positive sign of continued investment in leadership.

Key Dates

Keywords

Restricted Stock Units, Director, Equity Incentive Plan, Dividend Equivalency, Form 4, City Office REIT, CIO, Mazan