Form 4: Celanese Corp Director Edward G. Galante Reports Acquisition of Phantom Stock

Director Edward G. Galante reported the acquisition of phantom stock in Celanese Corp due to dividend equivalents on deferred compensation.

Summary

• On May 13, 2024, Edward G. Galante, a director of Celanese Corp, acquired 29.075 shares of phantom stock.
• The phantom stock was acquired due to dividend equivalents on compensation deferred under the company's 2008 Deferred Compensation Plan.
• Each share of phantom stock represents the right to receive one share of Celanese Corp common stock.
• The price of the derivative security is $160.24.
• Following the transaction, Galante beneficially owns 6,684.817 derivative securities.
• The phantom stock becomes payable in shares of common stock following the termination of Galante's service as a director of the company.

Sentiment

Score: 7

Explanation: The document is a standard SEC filing related to executive compensation, indicating normal business operations. The acquisition of phantom stock is a positive sign of alignment between the director and the company's performance.

Future Outlook

The phantom stock becomes payable in shares of Common Stock, as provided in the Plan, following the termination of the reporting person's service as a director of the Company.

Industry Context

This is a routine disclosure related to executive compensation and is typical for directors of publicly traded companies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term performance.

Key Dates