Form 4: Orion Office REIT Director Lieb Receives Stock Units

Director Richard J. Lieb of Orion Office REIT Inc. was granted 26,738 restricted stock units on May 15, 2024.

Summary

• Richard J. Lieb, a director of Orion Office REIT Inc., received 26,738 restricted stock units (RSUs) on May 15, 2024.
• These RSUs were granted under the Issuer's equity plan.
• The RSUs will vest on the earlier of (i) the one-year anniversary of the grant date or (ii) the date of the next annual meeting of the Issuer's stockholders, contingent upon Lieb's continued service with the Issuer.

Sentiment

Score: 7

Explanation: The document indicates standard executive compensation practices, which is generally viewed neutrally to positively as it aligns management with shareholder interests.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing continued service and performance.

Future Outlook

The vesting of the RSUs is contingent upon the director's continued service, suggesting an expectation of ongoing involvement with the company.

Industry Context

Grants of restricted stock units are a common form of executive compensation in REITs and other publicly traded companies, aligning management's interests with those of shareholders.

Comparison to Industry Standards

• Executive compensation packages, including RSU grants, are common in the REIT industry to incentivize performance and align management interests with shareholders.
• Comparable companies often use similar equity-based compensation plans to attract and retain key personnel.

Stakeholder Impact

• The grant of RSUs could have a slightly positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates