Form 4: ODP Director Cashes Out RSUs in Merger
Beneficial Ownership Change (Merger Related)
ODP Corp Director Kristin Ann Campbell converted 49,503 restricted stock units into cash at $28.00 per share following the company's merger with ACR Ocean Resources LLC.
Summary
- Kristin Ann Campbell, a Director of ODP Corp, reported a change in beneficial ownership.
- The change occurred on December 10, 2025, due to the merger of ODP Corporation with Vail Holdings 1, Inc., a wholly-owned subsidiary of ACR Ocean Resources LLC.
- ODP Corporation is now a wholly-owned subsidiary of ACR Ocean Resources LLC.
- Ms. Campbell's 49,503 restricted stock units (RSUs) were converted into a right to receive cash.
- Each RSU was valued at $28.00 per share, plus any accrued and unpaid dividends or dividend equivalent rights.
- The total cash value for the RSUs, excluding dividends, is approximately $1,386,084.
Sentiment
Score: 5
Explanation: The filing is a factual report of a completed merger and RSU conversion, thus presenting a neutral sentiment regarding company performance.
Positives
- Director Kristin Ann Campbell received a significant cash payout for her restricted stock units.
- The merger of ODP Corporation into a wholly-owned subsidiary of ACR Ocean Resources LLC has been completed, indicating a successful transaction for the acquiring entity.
Negatives
- ODP Corporation is no longer an independent publicly traded entity, having become a wholly-owned subsidiary.
- The reporting person no longer holds restricted stock units in the public entity, signifying a divestment of public equity.
Risks
- ODP Corporation is no longer subject to Section 16 reporting requirements as a public company, reducing public transparency.
- Public shareholders of ODP Corp no longer hold equity in the company post-merger, eliminating their direct investment in the entity.
Future Outlook
ODP Corporation has become a wholly-owned subsidiary of ACR Ocean Resources LLC, implying its future operations and strategic direction will be determined by its new private ownership.
Industry Context
The merger of ODP Corporation into a wholly-owned subsidiary reflects ongoing consolidation trends in various industries, where public companies are taken private by investment firms or larger strategic acquirers.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Kristin Ann Campbell (of public ODP Corp) | Kristin Ann Campbell (of private ODP Corp) | 12/10/2025 | ODP Corporation became a wholly-owned subsidiary of ACR Ocean Resources LLC, resulting in the reporting person no longer being subject to Section 16 reporting requirements for the former public entity. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Transition to Private Ownership | The company's corporate governance structure has transitioned from a publicly traded entity to a wholly-owned subsidiary, aligning with the governance framework of its new parent company, ACR Ocean Resources LLC. | 12/10/2025 | This change significantly alters the oversight and reporting requirements, moving from public shareholder accountability to private corporate control. |
Stakeholder Impact
- Public shareholders of ODP Corporation received cash for their equity holdings as the company transitioned to private ownership.
Next Steps
- ODP Corporation will operate as a wholly-owned subsidiary of ACR Ocean Resources LLC.
Key Dates
| Date | Description |
|---|---|
| 09/22/2025 | Date of the Agreement and Plan of Merger between ODP Corporation, ACR Ocean Resources LLC, and Vail Holdings 1, Inc. |
| 12/10/2025 | Date of the merger closing and conversion of restricted stock units into cash. |
Keywords
ODP, merger, acquisition, restricted stock units, RSU, beneficial ownership, Form 4, director, cash out, private company
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