Form 4: Realty Income Corp Executive Mark Hagan Sells Shares to Cover Tax Obligations

Realty Income Corp's EVP, Chief Investment Officer, Mark Hagan, sold shares to cover tax obligations related to the vesting of performance and restricted stock.

Summary

• Mark Hagan, EVP and Chief Investment Officer of Realty Income Corp, sold shares of common stock to cover tax obligations.
• The sales occurred on December 31, 2024, and January 1, 2025.
• A total of 1,367 shares were sold on December 31, 2024, at a price of $53.41 per share.
• On January 1, 2025, 5,665 shares and 2,496 shares were sold, also at $53.41 per share.
• These sales were triggered by the vesting of performance shares and restricted stock previously granted to Mr. Hagan.
• The shares were automatically withheld to cover tax obligations at the greater of the minimum required tax withholding rate or the highest rate permitted by the applicable taxing authority.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Industry Context

This is a routine transaction for executives who receive stock-based compensation. It is common for executives to sell shares to cover tax obligations when stock options or restricted stock units vest.

Comparison to Industry Standards

• The practice of selling shares to cover tax obligations upon vesting of stock awards is standard across publicly traded companies.
• Many companies use a similar approach to manage executive compensation and tax liabilities.
• The sale price of $53.41 is reflective of the market price of Realty Income Corp's stock on the transaction dates.

Stakeholder Impact

• The stock sales have a minimal impact on shareholders as they are routine transactions related to executive compensation.

Key Dates

Keywords

Realty Income Corp, Mark Hagan, stock sale, insider trading, tax obligations, performance shares, restricted stock, executive compensation