Form 4: Koppers Holdings CEO Acquires Dividend Equivalent Rights
SEC Form 4 Filing
Koppers Holdings CEO, M Leroy Ball, acquired 701 dividend equivalent rights related to restricted stock units and performance stock units.
Summary
- M Leroy Ball, CEO of Koppers Holdings Inc., has reported the acquisition of 701 dividend equivalent rights.
- These rights are associated with previously granted restricted stock units (RSUs) and performance stock units (PSUs).
- 290 of these rights are linked to RSUs granted on January 4th of 2021, 2022, 2023 and 2024.
- The remaining 411 rights are tied to PSUs granted on January 4th of 2022 and 2023.
- Each dividend equivalent right represents the economic equivalent of one share of Koppers Holdings Inc. common stock.
- The transaction occurred on December 16, 2024.
Sentiment
Score: 6
Explanation: The document is a routine filing related to executive compensation. It is neither particularly positive nor negative, but indicates alignment of management with shareholder interests.
Positives
- The acquisition of dividend equivalent rights by the CEO could be seen as a positive sign of alignment with shareholder interests.
- The rights are tied to performance and time based vesting which could be seen as a positive incentive.
Industry Context
This is a standard SEC Form 4 filing related to executive compensation and is common for publicly traded companies.
Comparison to Industry Standards
- The use of dividend equivalent rights is a common practice in executive compensation packages, particularly for companies that use restricted stock units and performance stock units.
- Many companies in the materials and manufacturing sector, such as Westlake Chemical and LyondellBasell, use similar equity-based compensation structures.
Stakeholder Impact
- The acquisition of dividend equivalent rights by the CEO could be viewed positively by shareholders as it aligns management's interests with theirs.
Key Dates
| Date | Description |
|---|---|
| 01/04/2021 | Date of RSU grant related to some of the dividend equivalent rights. |
| 01/04/2022 | Date of RSU and PSU grants related to some of the dividend equivalent rights. |
| 01/04/2023 | Date of RSU and PSU grants related to some of the dividend equivalent rights. |
| 01/04/2024 | Date of RSU grant related to some of the dividend equivalent rights. |
| 12/16/2024 | Date of the transaction where the dividend equivalent rights were acquired. |
| 12/18/2024 | Date the form was signed. |
Keywords
Dividend Equivalent Rights, Koppers Holdings, M Leroy Ball, CEO, RSU, PSU, Stock Units, SEC Form 4
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