Form 4: ODP Corp CEO Gerry Smith Reports Stock Transactions

ODP Corp CEO Gerry Smith reports acquisition and disposal of common stock to cover tax obligations and vesting of restricted stock units.

Summary

• Gerry Smith, CEO of ODP Corp, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On April 22, 2024, shares were withheld by the issuer to cover tax obligations related to vesting shares from a grant issued on April 22, 2021, and performance-based stock units, at a price of $49.89.
• Specifically, 9,995 shares and 13,494 shares were withheld for tax obligations.
• On April 23, 2024, 55,738 performance-based restricted stock units vested at $0.00, and 21,933 shares were withheld for tax obligations at $49.89.
• Following these transactions, Smith directly owns 833,047 shares of ODP Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reflects routine stock transactions related to compensation and tax obligations.

Positives

• The vesting of performance-based restricted stock units suggests that performance targets were met.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and tax obligations.

Key Dates