Form 4: City Office REIT Director Sells Shares Post-Merger

City Office REIT Director Mark Murski reported the disposition of common stock and restricted stock units following the company's merger into a subsidiary of MCME Carell Holdings, LP.

Summary

• City Office REIT, Inc. merged with and into MCME Carell Merger Sub, LLC, a Maryland limited liability company, which is a wholly-owned subsidiary of MCME Carell Holdings, LP, a Delaware limited partnership.
• The merger was effective on January 9, 2026, pursuant to an Agreement and Plan of Merger dated July 23, 2025.
• Each share of City Office REIT's common stock converted into the right to receive $7.00 per share in cash.
• Each outstanding Restricted Stock Unit (RSU) previously issued to the Reporting Person also converted into the right to receive an amount in cash equal to the Merger Consideration Price of $7.00.
• Mark Wilhelm Murski, a Director of City Office REIT, disposed of 38,337 shares of common stock.
• Mark Wilhelm Murski also disposed of 21,392 Restricted Stock Units.
• As of January 9, 2026, Mark Wilhelm Murski is no longer subject to Section 16 in connection with transactions of securities of the Issuer.

Sentiment

Score: 7

Explanation: The filing reports the successful completion of a merger, resulting in a cash payout for shareholders and RSU holders, including the reporting director. This indicates a positive outcome for those holding the company's securities prior to the merger.

Positives

• The merger successfully completed, providing a cash payout to shareholders and RSU holders.
• Mark Murski received cash for his common stock and Restricted Stock Units, totaling $418,103 ($268,359 for common stock and $149,744 for RSUs), providing liquidity.

Negatives

• City Office REIT, Inc. ceased to exist as an independent publicly traded entity, becoming a wholly-owned subsidiary.
• Shareholders no longer hold equity in the former City Office REIT.

Future Outlook

City Office REIT, Inc. has ceased to be an independent public entity, having merged into a wholly-owned subsidiary of MCME Carell Holdings, LP. There are no forward-looking statements for the former public entity.

Industry Context

This filing reflects the completion of a merger, a common occurrence in the real estate investment trust (REIT) sector, often driven by consolidation strategies, market conditions, or private equity interest in acquiring public assets.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Received $7.00 per share in cash for their common stock, providing a definitive exit and liquidity.
• Restricted Stock Unit Holders: Received $7.00 per unit in cash, monetizing their equity awards.
• Employees: Employees of the former City Office REIT, Inc. are now employees of a private subsidiary, potentially impacting compensation structures, benefits, and corporate culture.
• Creditors: The merger may impact the credit profile and covenants of the former entity's debt, now under the ownership of MCME Carell Holdings, LP.

Next Steps

• The former City Office REIT, Inc. will operate as a wholly-owned subsidiary of MCME Carell Holdings, LP.
• The Reporting Person, Mark Murski, is no longer subject to Section 16 reporting requirements for the Issuer.

Key Dates

Keywords

Merger, City Office REIT, CIO, MCME Carell Holdings, Form 4, Insider Transaction, Common Stock, Restricted Stock Units, Real Estate Investment Trust