Form 4: ODP Corp Director Sells Shares in Merger
Change in Beneficial Ownership (Merger)
ODP Corp Director Wendy Lee Schoppert disposed of common stock and restricted stock units as part of a merger where the company became a wholly-owned subsidiary of ACR Ocean Resources LLC.
Summary
- Wendy Lee Schoppert, a Director of ODP Corp, reported changes in beneficial ownership following a merger.
- On December 10, 2025, ODP Corp merged with Vail Holdings 1, Inc., a wholly-owned subsidiary of ACR Ocean Resources LLC, resulting in ODP Corp becoming a wholly-owned subsidiary.
- As a result of the merger, 3,875 shares of ODP Corp common stock held by Ms. Schoppert were converted into the right to receive $28.00 in cash per share.
- Additionally, 30,096 restricted stock units (RSUs) held by Ms. Schoppert were converted into the right to receive cash equal to $28.00 per share multiplied by the number of shares subject to the RSUs, plus any accrued and unpaid dividends or dividend equivalent rights.
- Following these transactions, Ms. Schoppert beneficially owns 0 shares of common stock and 0 derivative securities of ODP Corp.
Sentiment
Score: 7
Explanation: The filing reports a mandatory disposition of securities due to a merger, where shareholders received a fixed cash price per share. This is a definitive event, not inherently positive or negative for the company's ongoing operations, but provides a clear exit for public shareholders.
Positives
- Shareholders, including the reporting person, received a cash payment of $28.00 per share for their common stock holdings.
- Restricted stock units were converted into a cash payout based on the $28.00 per share merger price, plus accrued dividends.
Negatives
- ODP Corp ceased to be a publicly traded company, becoming a wholly-owned subsidiary, which means its stock is no longer available for public investment.
Future Outlook
NA
Industry Context
NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Wendy Lee Schoppert | NA | 2025-12-10 | ODP Corp ceased to be a publicly traded entity following its merger into a wholly-owned subsidiary of ACR Ocean Resources LLC. |
Stakeholder Impact
- Shareholders: Received $28.00 per share in cash, ending their investment in the public entity.
- Employees: ODP Corp continues as a wholly-owned subsidiary, implying operational continuity, but the filing does not detail specific employee impact.
Key Dates
| Date | Description |
|---|---|
| 2025-09-22 | Date of the Agreement and Plan of Merger between ODP Corporation, ACR Ocean Resources LLC, and Vail Holdings 1, Inc. |
| 2025-12-10 | Date of earliest transaction and effective time of the merger where Merger Sub merged into ODP Corp, making ODP Corp a wholly-owned subsidiary of Parent. |
Keywords
ODP Corp, ODP, Merger, Form 4, Insider Transaction, Stock Disposition, Restricted Stock Units, ACR Ocean Resources LLC, Vail Holdings 1 Inc.
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