Form 4: ODP Corp Co-CFO Sells Shares in Merger Payout

ODP Corp's Co-CFO, Max Hood, reported the sale of common stock and conversion of restricted stock units into cash following the company's merger.

Summary

• Max Hood, Co-CFO and SVP of ODP Corp, reported transactions related to the company's merger.
• On December 10, 2025, Merger Sub, a wholly-owned subsidiary of ACR Ocean Resources LLC, merged with ODP Corporation, making ODP a wholly-owned subsidiary of Parent.
• Each share of ODP common stock held by the reporting person immediately prior to the merger's effective time was converted into the right to receive $28.00 in cash.
• Hood disposed of 21,853 shares of common stock at a price of $28 per share.
• Unvested restricted stock units (RSUs) totaling 19,117 were cancelled and converted into a cash payment equal to the merger consideration multiplied by the number of shares subject to the RSU, plus any accrued dividends, subject to the original RSU terms.
• Following these reported transactions, Hood beneficially owns 0 shares of ODP common stock.

Sentiment

Score: 5

Explanation: Neutral, as this is a factual report of an insider transaction resulting from a merger, not an operational update.

Positives

• The reporting person received $28.00 per share for common stock and an equivalent cash amount for restricted stock units, indicating a successful merger payout for shareholders.

Negatives

• No specific negatives are reported in this transaction filing.

Risks

• No risks are explicitly mentioned in this Form 4 filing.

Future Outlook

NA

Industry Context

This filing reflects the finalization of a corporate acquisition, a common event in various industries where companies consolidate or private equity firms take public companies private.

Stakeholder Impact

• Shareholders: Received $28.00 per share in cash for their common stock as part of the merger.
• Employees (holding RSUs): Unvested RSUs were converted to cash based on the merger consideration, subject to original vesting terms.

Key Dates

Keywords

ODP Corp, ODP, Max Hood, Form 4, insider transaction, merger, common stock, restricted stock units, RSU, beneficial ownership, ACR Ocean Resources LLC, Vail Holdings 1 Inc