Form 4: ODP Corp Director Wendy Lee Schoppert Receives Equity Grant

Director Wendy Lee Schoppert received an annual equity grant of 3,065 restricted stock units from ODP Corp on April 26, 2024.

Summary

• Wendy Lee Schoppert, a director of ODP Corp, received an annual equity grant on April 26, 2024.
• The grant consisted of 3,065 restricted stock units (RSUs), each representing 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 in three equal annual installments following termination of service on the Board of Directors.
• Following the transaction, Schoppert directly owns 18,965 derivative securities.
• The transaction was reported on April 30, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard equity grant, which is generally viewed as a positive incentive for board members.

Positives

• The equity grant aligns the director's interests with those of the shareholders.
• Immediate vesting of the RSUs could be seen as a positive incentive.

Future Outlook

Vested shares will be distributed to the Reporting Person in three equal annual installments within 30 days following the first, second and third anniversary of the Reporting Person's 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. The size and vesting schedule of the grant are typical considerations.

Comparison to Industry Standards

• Equity grants for board members vary significantly across industries and company sizes.
• Comparing the size of this grant (3,065 RSUs) to similar companies in the office supply or retail sector would provide a better benchmark.
• Companies like Staples or Amazon could be considered for comparison, although their scale is significantly different.

Stakeholder Impact

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

Key Dates