Form 4: ODP Corp Executive Max Hood Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Max Hood, SVP & Chief Accounting Officer of ODP Corp, reports acquisition and disposal of common stock due to RSU vesting and tax withholding.
Summary
- On March 10, 2025, Max Hood, SVP & Chief Accounting Officer of ODP Corp, reported changes in beneficial ownership of ODP Corp common stock.
- Hood acquired 10,107 shares of common stock through the vesting of Restricted Stock Units (RSUs) at a price of $0.00.
- The vesting schedule for these RSUs is one-third on each of March 10, 2026, March 10, 2027, and March 10, 2028.
- The issuer withheld 438 shares at $17.81 to cover tax obligations related to the vesting of shares from a grant issued on March 10, 2023.
- Additionally, 1,129 shares were withheld at $17.81 to cover tax obligations related to the vesting of shares from a grant issued on March 10, 2022.
- Following these transactions, Hood directly owns 43,774 shares of ODP Corp common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing reflects standard executive compensation practices and tax obligations. There are no indications of significant positive or negative events.
Positives
- The acquisition of shares through RSU vesting indicates confidence in the company's future performance.
Future Outlook
The vesting schedule of the RSUs suggests a continued alignment of the executive's interests with the company's performance over the next three years.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices involving RSUs.
Comparison to Industry Standards
- RSU grants are a common form of executive compensation in publicly traded companies, used to align management's interests with shareholder value.
- Tax withholding practices related to RSU vesting are standard procedure across the industry.
- Comparable companies such as Staples or Amazon also utilize RSU grants as part of their executive compensation packages.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 03/10/2022 | Date of original grant related to tax withholding. |
| 03/10/2023 | Date of original grant related to tax withholding. |
| 03/10/2025 | Date of transaction: RSU grant and tax withholding. |
| 03/10/2026 | First vesting date for RSUs granted on March 10, 2025. |
| 03/10/2027 | Second vesting date for RSUs granted on March 10, 2025. |
| 03/10/2028 | Final vesting date for RSUs granted on March 10, 2025. |
| 03/12/2025 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.