Form 4: Retail Opportunity Investments Corp. CEO Stuart Tanz Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Stuart Tanz, CEO of Retail Opportunity Investments Corp., reports transactions involving common stock and OP Units, including vesting of restricted shares and shares withheld for tax obligations.
Summary
- On December 26, 2024, Stuart Tanz, the CEO of Retail Opportunity Investments Corp., reported changes in his beneficial ownership of the company's securities.
- These changes include the vesting of 219,178 restricted shares of common stock, which were initially granted on February 15, 2022, and modified in December 2024 to accelerate vesting and deem performance criteria achieved at maximum level.
- The report also indicates the disposition of 203,007 shares of common stock to satisfy tax withholding obligations related to the vesting of the restricted shares at a price of $17.35.
- Following these transactions, Tanz directly owns 2,274,233 shares and indirectly owns 80,590 shares of common stock.
- Additionally, Tanz indirectly owns 113,727 OP Units of Retail Opportunity Investments Partnership, LP, which can be redeemed for cash or common stock.
- The shares and OP Units are held by the Stuart A. Tanz Separate Property Trust and two grantor retained annuity trusts.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to stock vesting and tax obligations. There are no explicit positive or negative implications for the company's performance.
Positives
- The vesting of restricted shares indicates that the company met certain performance criteria, or that the board decided to reward the CEO irrespective of performance.
- The CEO continues to hold a significant number of shares and OP Units, aligning his interests with those of shareholders.
Negatives
- The disposition of shares to cover tax obligations reduces the CEO's direct holdings in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing is specific to Retail Opportunity Investments Corp. and its CEO.
Stakeholder Impact
- The vesting of shares and subsequent tax withholding may have a minor impact on the company's share price.
Key Dates
| Date | Description |
|---|---|
| 06/16/2006 | Date of the Stuart A. Tanz Separate Property Trust U/A |
| February 15, 2022 | Date the reporting person was granted 219,178 restricted shares of common stock |
| January 1, 2022 to December 31, 2024 | Performance period for vesting of restricted shares |
| 12/26/2024 | Date of the reported transactions (vesting and tax withholding) |
| 12/30/2024 | Date of signature on the Form 4 filing |
Keywords
beneficial ownership, Form 4, Stuart Tanz, Retail Opportunity Investments Corp, ROIC, common stock, OP Units, vesting, restricted shares, tax withholding
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