Form 4: ODP Corp Director Levitt Evan Acquires 11,131 Restricted Stock Units

Director Evan Levitt received 11,131 restricted stock units of ODP Corp on May 2, 2025, as part of an annual equity grant.

Summary

• On May 2, 2025, Evan Levitt, a director of ODP Corp, acquired 11,131 restricted stock units.
• This acquisition was part of an annual equity grant for service as a member of the Board of Directors.
• Each restricted stock unit represents a contingent right to receive one share of ODP Corp common stock.
• The restricted stock units fully vest on the grant date.
• Vested shares will be distributed immediately following the director's termination or expiration of term of service on the Board of Directors.
• Following the transaction, Levitt directly owns 14,693 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine equity grant, indicating stable corporate governance and alignment of interests. It's a neutral to slightly positive event.

Positives

• The equity grant aligns the director's interests with those of the shareholders.
• Immediate vesting of the restricted stock units indicates confidence in the director's continued service.

Future Outlook

Vested shares will be distributed to the Reporting Person immediately following the Reporting Person's termination or expiration of term of service on the Issuer's Board of Directors.

Industry Context

This is a standard practice for compensating board members in publicly traded companies, aligning their interests with shareholders through equity ownership.

Comparison to Industry Standards

• Granting restricted stock units to board members is a common practice among publicly traded companies.
• Companies like Staples, Amazon, and Target also use equity grants as part of their compensation packages for directors.
• The size of the grant is likely determined by company size, board responsibilities, and industry benchmarks.

Stakeholder Impact

• The equity grant aligns the director's interests with those of the shareholders, potentially leading to better decision-making.
• The grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

ODP Corp, Director, Equity Grant, Restricted Stock Units, Beneficial Ownership, Form 4, Levitt