[Form 4] CITY OFFICE REIT, INC. Insider Trading Activity

Rhea-AI Filing Summary

On 24 Jul 2025, City Office REIT (CIO) director Mark W. Murski received 306 restricted stock units (RSUs) via dividend-equivalent accrual under the company’s Equity Incentive Plan. Each RSU converts into one CIO common share upon vesting, which mirrors the original award’s schedule of three equal annual installments, contingent on continued service.

No shares were sold and no cash consideration was exchanged; the transaction simply increases the director’s equity exposure. After the grant, Murski beneficially owns 21,392 RSUs. The event is a routine insider equity adjustment with negligible effect on share count, liquidity or corporate operations.

Insights

Corporate Governance Analyst

TL;DR: Routine 306-unit dividend RSU grant; negligible financial impact.

The filing reflects an automatic dividend-equivalent adjustment to previously issued RSUs, a standard feature of many REIT incentive plans. No open-market purchase or sale occurred, so trading sentiment remains unaffected. The director’s post-grant holding of 21,392 RSUs modestly tightens management-shareholder alignment but does not materially dilute existing investors. Given the small size relative to CIO’s 45 m+ outstanding shares, the event is administratively important yet financially immaterial.

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

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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^*

Murski Mark Wilhelm

(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)

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

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		306		(2)	(2)	Common Stock	306(3)	(1)	21,392	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/ Mark Murski	07/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did CIO director Mark W. Murski report on Form 4?

He acquired 306 restricted stock units as a dividend-equivalent adjustment under the Equity Incentive Plan.

How many CIO derivative securities does Murski now hold?

After the transaction he beneficially owns 21,392 RSUs.

When will the newly granted RSUs vest?

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

Did the Form 4 include any stock sales?

No. The filing shows an A (acquisition) code; no dispositions occurred.

Does this insider transaction impact CIO’s share count?

Impact is immaterial; RSUs convert to shares upon vesting and represent a tiny fraction of outstanding stock.