ODP.Odp CORP

Form 4: ODP Corp Executive Sarah E. Hlavinka Reports Stock Award and Tax Withholding

Sentiment:

SEC Form 4

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EVP-Chief Legal Officer & Secretary of ODP Corp, Sarah E. Hlavinka, reports the acquisition of 22,459 shares of common stock through a restricted stock unit grant and the withholding of 830 shares for tax obligations.

Summary

  • On March 10, 2025, Sarah E. Hlavinka, EVP-Chief Legal Officer & Secretary of ODP Corp, was granted 22,459 Restricted Stock Units (RSUs).
  • These RSUs will vest in three equal installments on March 10, 2026, March 10, 2027, and March 10, 2028.
  • On the same date, 830 shares of common stock were withheld to cover tax obligations related to the vesting of shares from a previous grant issued on March 10, 2023.
  • Following these transactions, Hlavinka directly owns 44,355 shares of ODP Corp common stock.

Sentiment

Score: 6

Explanation: The document itself is neutral, simply reporting transactions. The RSU grant could be viewed slightly positively as aligning executive interests, but the tax withholding is a standard procedure.

Positives

  • The grant of RSUs to a key executive could be seen as a positive sign, aligning their interests with the long-term performance of the company.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's financial performance or future prospects.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings of key personnel.

Comparison to Industry Standards

  • Executive compensation packages, including RSU grants, are common practice among publicly traded companies to incentivize and retain key personnel.
  • The vesting schedule of the RSUs (one-third annually over three years) is a fairly standard vesting arrangement.
  • Tax withholding on vesting shares is also a common practice to cover the executive's tax liabilities.

Stakeholder Impact

  • The RSU grant aligns the executive's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates

DateDescription
03/10/2023Date of previous grant from which shares vested and tax obligations arose.
03/10/2025Date of the reported transactions: grant of RSUs and tax withholding.
03/10/2026First vesting date for one-third of the granted RSUs.
03/10/2027Second vesting date for one-third of the granted RSUs.
03/10/2028Final vesting date for one-third of the granted RSUs.
03/12/2025Date of signature on the Form 4 filing.

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