City Office REIT Insider Filing Shows Small RSU Award to CFO

Rhea-AI Filing Summary

Insider filing highlight: City Office REIT (CIO) Chief Financial Officer Anthony Maretic reported the grant of 884 Restricted Stock Units (RSUs) on 07/24/2025, as disclosed in a Form 4 filed 07/25/2025.

The RSUs were issued as a dividend-equivalency award under the company’s Equity Incentive Plan, convert to common stock on a 1-for-1 basis, and will vest on the same dates and terms as the underlying awards granted earlier (three equal annual installments, contingent on continued service).

Following this transaction, the executive’s derivative holdings rise to 61,886 RSUs, all recorded as directly owned. No open-market purchases or sales of common shares were reported, indicating this is routine, non-cash equity compensation rather than a discretionary investment.

Positive

• CFO’s beneficial ownership rises by 884 RSUs, marginally increasing management’s equity stake and alignment with shareholders.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine RSU dividend grant; negligible share count, neutral signal.

The 884 RSU grant represents less than 2% of the CFO’s existing 61,000-plus RSU position and involves no cash outlay. Because it is tied to dividend equivalents, the award is part of normal plan mechanics rather than an opportunistic insider purchase. As such, the filing neither alters float nor conveys a strong directional view, though it does modestly increase management’s equity alignment. For valuation or liquidity considerations, the impact is immaterial.

Corporate Governance Specialist

TL;DR: Standard equity-based compensation; governance practices intact.

The grant follows the Equity Incentive Plan’s dividend-equivalency provisions and vests alongside previously approved awards, suggesting adherence to established compensation policy. No red flags on timing, structure, or reporting were detected. The filing confirms continued transparency in insider disclosures but does not materially affect governance risk or shareholder dilution.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Maretic Anthony

(Last) (First) (Middle)

666 BURRARD STREET, SUITE 3210

(Street)

VANCOUVER A1 V6C2X8

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
City Office REIT, Inc. [ CIO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	07/24/2025		A		884		(2)	(2)	Common Stock	884(3)	(1)	61,886	D

Explanation of Responses:

1. In accordance with the Company's Equity Incentive Plan (the "Equity Incentive Plan"), Restricted Stock Units (as the defined in the Equity Incentive Plan) convert into common stock on a one-for-one basis.

2. The units represent Restricted Stock Units issuable to the Reporting Person as a dividend equivalency payment with respect to Restricted Stock Units previously issued to the Reporting Person which vest in three substantially equal installments on each of the first three annual anniversaries of the initial Grant Date, generally subject to the Participant's continued service through each applicable vesting date. The Restricted Stock Units reported herein shall vest on the same date and under the same terms as the underlying Restricted Stock Units with respect of which these dividend equivalency units vest.

3. Vested shares will be delivered to the reporting person promptly upon vesting of the related restricted stock units.

	/s/ Anthony Maretic	07/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many shares did CIO's CFO acquire in the latest Form 4?

Anthony Maretic received 884 Restricted Stock Units as a dividend-equivalency grant.

What is the total RSU holding of CIO’s CFO after the transaction?

Post-grant, Maretic beneficially owns 61,886 RSUs, all held directly.

Was there any open-market buying or selling of CIO common stock?

No. The filing reports only RSU grants; no cash purchases or sales were disclosed.

When will the newly granted RSUs vest?

They vest on the same schedule as the underlying awards—three equal annual installments subject to continued service.

Do the RSUs convert into CIO common shares?

Yes. Each RSU converts 1-for-1 into common stock upon vesting according to the Equity Incentive Plan.