Form 4: ODP Corp Executive Kevin Moffitt Reports Stock Transactions

Kevin Moffitt, EVP and President of Office Depot at ODP Corp, reports acquisition and disposal of common stock to cover tax obligations and vesting of restricted stock units.

Summary

• Kevin Moffitt, an executive at ODP Corp, filed a Form 4 detailing changes in beneficial ownership of the company's common stock.
• On April 22, 2024, Moffitt had 1,000 shares withheld by the issuer to cover tax obligations related to the vesting of restricted shares granted on April 22, 2021, at a price of $49.89 per share, reducing his holdings.
• An additional 1,350 shares were withheld on the same day to cover tax obligations related to the vesting of performance-based stock units, also at $49.89 per share, further reducing his holdings.
• On April 23, 2024, Moffitt acquired 5,574 shares through the vesting of performance-based restricted stock units at $0.00 per share.
• Also on April 23, 2024, 2,194 shares were withheld to cover tax obligations at $49.89 per share.
• Following these transactions, Moffitt directly owns 66,783 shares of ODP Corp common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Positives

• The vesting of performance-based restricted stock units suggests that Moffitt has met certain performance criteria, which could be viewed positively.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.

Key Dates