Form 4: Orion Office REIT Inc. Executive Paul H. McDowell Reports Stock Disposal for Tax Withholding

Paul H. McDowell, a director and officer of Orion Office REIT Inc., disposed of 11,057 shares of common stock on March 7, 2024, to cover tax withholding obligations related to vested restricted stock units.

Summary

• On March 7, 2024, Paul H. McDowell, a director and officer of Orion Office REIT Inc. (ONL), disposed of 11,057 shares of common stock.
• The transaction was executed to satisfy tax withholding requirements associated with the vesting of restricted stock units.
• The shares were disposed of at a price of $3.52 per share, equivalent to the closing sale price of ONL's common stock on the New York Stock Exchange on that date.
• Following the transaction, McDowell directly owns 311,455 shares of Orion Office REIT Inc.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (disposal of shares for tax withholding) and does not contain information that would significantly impact investor sentiment positively or negatively.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders of a publicly traded company buy or sell the company's securities. This filing indicates a transaction by a company insider to cover tax obligations, which is a common practice.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.

Key Dates