Form 4: ODP Corp Executive Centrella Reports Stock Disposals to Cover Tax Obligations
SEC Form 4
David C. Centrella, EVP and President of ODP Business Solutions, disposed of ODP Corp shares to cover tax withholding obligations related to vesting restricted stock.
Summary
- On March 10, 2024, David C. Centrella, EVP and President of ODP Business Solutions, disposed of ODP Corp common stock to satisfy tax withholding obligations.
- 919 shares were disposed of at a price of $51.47 related to a grant issued on March 10, 2022.
- An additional 1,165 shares were disposed of at a price of $51.47 related to a grant issued on March 10, 2023.
- Following these transactions, Centrella directly owns 54,527 shares of ODP Corp common stock.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to routine stock transactions for tax purposes.
Industry Context
This is a routine transaction related to executive compensation and tax obligations. It is common for executives to sell shares to cover taxes when restricted stock vests.
Stakeholder Impact
- The disposal of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 03/10/2022 | Date of original grant of restricted stock related to the disposal of 919 shares. |
| 03/10/2023 | Date of original grant of restricted stock related to the disposal of 1,165 shares. |
| 03/10/2024 | Date of stock disposal to cover tax obligations. |
| 03/12/2024 | Date of signature on the Form 4 filing. |
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