Form 4: ODP Corp Executive Sarah E. Hlavinka Reports Stock Disposal for Tax Obligations

Sarah E. Hlavinka, EVP-Chief Legal Officer & Secretary of ODP Corp, reports disposing of 1,161 shares of common stock on April 4, 2024, to cover tax obligations.

Summary

• On April 8, 2024, Sarah E. Hlavinka, EVP-Chief Legal Officer & Secretary of ODP Corp, filed a Form 4 detailing changes in beneficial ownership.
• The report indicates that on April 4, 2024, Ms. Hlavinka disposed of 1,161 shares of ODP Corp common stock at a price of $50.88.
• This disposal was to satisfy tax withholding obligations related to the vesting of restricted shares granted on April 4, 2022.
• Following the transaction, Ms. Hlavinka directly owns 22,726 shares of ODP Corp common stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a routine stock transaction for tax purposes. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding insider transactions.

Comparison to Industry Standards

• Executive stock transactions are a common occurrence in publicly traded companies.
• Companies like Staples, Amazon, and Best Buy also have executives who regularly report stock transactions via Form 4 filings.
• The size and frequency of these transactions vary depending on the executive's compensation package and the company's stock performance.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not indicate a change in the executive's long-term outlook on the company.

Key Dates