Form 4: ODP Corp Executive Max Hood Reports Stock Transactions

Max Hood, SVP & Chief Accounting Officer of ODP Corp, reports acquisition and disposal of common stock to cover tax obligations and vesting of restricted stock units.

Summary

• Max Hood, SVP & Chief Accounting Officer of ODP Corp, filed a Form 4 detailing changes in beneficial ownership.
• On April 22, 2024, shares of common stock were withheld by the issuer to satisfy tax withholding obligations on vesting of shares with restrictions from a grant issued on April 22, 2021.
• Specifically, 334 shares were withheld at a price of $49.89.
• Additionally, 450 shares were withheld on April 22, 2024, at $49.89 to cover tax obligations on vesting of performance-based stock units.
• On April 23, 2024, 1,858 performance-based restricted stock units vested, with a value of $0.00 per share.
• Also on April 23, 2024, 732 shares were withheld at $49.89.
• Following these transactions, Hood directly owns 22,796 shares of ODP Corp common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment.

Positives

• The vesting of performance-based restricted stock units suggests that performance targets were met.

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 standard executive compensation practices.

Key Dates