Form 4: Orion Office REIT Executive Reports Stock Disposal to Cover Tax Obligations

Revea Lynn Schmidt, a Senior Vice President and Chief Accounting Officer at Orion Office REIT, disposed of shares to cover tax obligations related to vested restricted stock units.

Summary

• On March 7, 2024, Revea Lynn Schmidt, a Senior Vice President and Chief Accounting Officer at Orion Office REIT Inc. (ONL), disposed of 2,097 shares of common stock to satisfy tax obligations.
• The disposal was related to the vesting of 6,623 shares of common stock under a restricted stock unit award agreement.
• The shares were disposed of at a price of $3.52 per share, which was the closing sale price of ONL's common stock on the New York Stock Exchange on March 7, 2024.
• Following the transaction, Schmidt directly owns 66,156 shares of Orion Office REIT Inc.

Sentiment

Score: 5

Explanation: This is a routine filing related to stock transactions by an officer to cover tax obligations. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common when restricted stock units vest.

Key Dates