December 10, 2025 · Form 4 insider transaction
GANNFORS JOHN sold 67,883 shares of Office Depot Inc at $28.00 per share, a transaction worth $1.90M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 0 days after the transaction.
On December 10, 2025, pursuant to that certain Agreement and Plan of Merger, dated as of September 22, 2025 (the "Merger Agreement"), by and among ODP Corporation (the "Issuer"), ACR Ocean Resources LLC ("Parent") and Vail Holdings 1, Inc., a wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent.; Pursuant to the Merger Agreement, each share of Issuer common stock held by the Reporting Person immediately prior to the closing of the Merger (the "Effective Time") was converted into the right to receive $28.00 in cash, without interest, net of all applicable withholding taxes (the "Merger Consideration").; Represents unvested restricted stock units ("RSUs") held by the Reporting Person immediately prior to the Effective Time. Pursuant to the Merger Agreement, all unvested RSUs were cancelled and converted into the right to receive an amount of cash equal to the Merger Consideration multiplied by (a) (i) the number of shares of Issuer common stock subject to such RSU immediately prior to the Effective Time, by (ii) the Merger Consideration, plus (b) any accrued and unpaid dividends or dividend equivalent rights corresponding to such RSUs, net of all applicable withholding taxes. The cash payment is subject to the same terms and conditions as applied to such RSUs immediately prior to the Effective Time (except that such RSUs will settle in cash in lieu of common stock).