Form 4: ODP Corp Director Levitt Receives Equity Grant

Director Evan Levitt received an annual equity grant of 3,562 restricted stock units in ODP Corp on June 10, 2024.

Summary

• On June 10, 2024, Evan Levitt, a director of ODP Corp, received an annual equity grant.
• The grant consisted of 3,562 restricted stock units (RSUs).
• Each RSU represents a contingent right to receive one share of ODP Corp common stock.
• The RSUs fully vest on the grant date.
• Vested shares will be distributed within 30 days following termination or expiration of service on the Board of Directors.

Sentiment

Score: 7

Explanation: The document reflects a routine equity grant, which is generally viewed neutrally to positively as it aligns director interests with shareholders.

Positives

• The equity grant aligns the director's interests with those of the shareholders.

Future Outlook

The vested shares will be distributed to the Reporting Person within 30 days following his/her termination or expiration of term of service on the Issuer's Board of Directors.

Industry Context

Equity grants to board members are a common practice to incentivize and align their interests with the company's long-term performance.

Stakeholder Impact

• The equity grant aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.

Key Dates