Form 4: ODP Corp Executive Max Hood Receives Restricted Stock Units
SEC Form 4 Filing
Max Hood, SVP & Chief Accounting Officer of ODP Corp, was granted 2,718 Restricted Stock Units (RSUs) on March 25, 2024, which will vest in three equal installments.
Summary
- Max Hood, the SVP & Chief Accounting Officer of ODP Corp, received 2,718 Restricted Stock Units (RSUs) on March 25, 2024.
- These RSUs will vest in three equal installments on March 25, 2025, March 25, 2026, and March 25, 2027.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of executive compensation, neither particularly positive nor negative.
Future Outlook
The RSUs represent future compensation and are tied to the executive's continued service with the company.
Industry Context
Granting RSUs is a common practice to align executive interests with shareholder value and incentivize long-term performance.
Stakeholder Impact
- The RSU grant could incentivize the executive to improve company performance, potentially benefiting shareholders.
- The vesting of RSUs will increase the number of shares outstanding, which could have a dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 03/25/2024 | Date of transaction: Max Hood was granted 2,718 Restricted Stock Units (RSUs). |
| 03/25/2025 | First vesting date: One-third of the RSUs will vest and settle in shares of ODP Corp's common stock. |
| 03/25/2026 | Second vesting date: One-third of the RSUs will vest and settle in shares of ODP Corp's common stock. |
| 03/25/2027 | Third vesting date: The final one-third of the RSUs will vest and settle in shares of ODP Corp's common stock. |
| 03/27/2024 | Date of signature: Form 4 was signed on this date. |
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