Form 4: ODP Co-CFO Adam Haggard's Routine Tax Withholding

ODP Corp's Co-CFO and SVP, Adam Haggard, reported the disposition of 2,448 common shares for tax withholding purposes related to restricted stock vesting.

Summary

• Adam Haggard, Co-CFO and SVP of ODP Corp, reported a transaction on September 6, 2025.
• The transaction involved the disposition of 2,448 shares of ODP Corp common stock.
• These shares were withheld by the issuer to satisfy tax withholding obligations upon the vesting of restricted stock.
• The shares were valued at $22.21 each for the purpose of the transaction.
• Following this transaction, Adam Haggard directly beneficially owns 24,714 shares of ODP Corp common stock.
• The restricted stock grant from which these shares vested was originally issued on September 6, 2024.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The transaction itself is a routine tax withholding, but it stems from the vesting of restricted stock, which is a positive for the executive as it represents earned compensation. No voluntary sale is indicated.

Positives

• The transaction indicates the vesting of restricted stock, which is a positive event for the executive, representing earned compensation.
• The executive continues to hold a significant number of shares (24,714), aligning their interests with shareholders.

Negatives

• A disposition of 2,448 shares occurred, reducing the executive's direct beneficial ownership, though this was for tax purposes and not a voluntary sale.

Future Outlook

No forward-looking statements or guidance are provided in this Form 4 filing.

Industry Context

This is a routine insider transaction related to executive compensation, common across all industries for publicly traded companies. It does not reflect broader industry trends or specific competitive dynamics.

Related Party Transactions

• The transaction involves the disposition of shares by a company executive (Adam Haggard) to the issuer (ODP Corp) for tax withholding purposes, which is a standard related-party transaction within executive compensation.

Stakeholder Impact

• Shareholders: Minimal direct impact. The transaction is a routine part of executive compensation and does not signal a change in company fundamentals or strategy. It confirms the executive's continued equity ownership.
• Management: Confirms the executive's compensation structure and continued alignment with company performance through equity ownership.

Key Dates

Recommendation

This Form 4 filing details a routine tax withholding transaction related to the vesting of restricted stock for a key executive. It does not indicate any voluntary buying or selling activity that would suggest a change in the executive's outlook on the company's prospects, nor does it reveal new information about the company's financial health or strategic direction. Therefore, it provides no basis for a change in investment recommendation; a 'hold' stance is maintained based solely on this filing.

Keywords

ODP Corp, Adam Haggard, Form 4, Insider Transaction, Stock Vesting, Tax Withholding, Executive Compensation, Common Stock