Form 4: Koppers Holdings CTO Accrues Dividend Equivalent Rights
Insider Transaction Report
James A. Sullivan, President and CTO of Koppers Holdings Inc., reported the accrual of 522 dividend equivalent rights tied to existing restricted and performance stock units.
Summary
- James A. Sullivan, President and CTO of Koppers Holdings Inc. (KOP), reported the accrual of 522 Dividend Equivalent Rights (DERs).
- These DERs are economic equivalents of one share of Koppers Holdings Inc. common stock each.
- The accrual includes 420 DERs related to time-based Restricted Stock Units (RSUs) granted on January 4, 2022, January 4, 2023, January 4, 2024, and January 3, 2025.
- An additional 102 DERs accrued with respect to performance-based Stock Units (PSUs) granted on January 4, 2023.
- The transaction date for this accrual was December 16, 2025.
Sentiment
Score: 6
Explanation: The sentiment is mildly positive as it reflects a routine accrual of compensation for an executive, indicating continued employment and vesting of equity awards. It is neutral for the company's operational or financial performance.
Positives
- The accrual of Dividend Equivalent Rights represents an increase in the executive's beneficial ownership of derivative securities, enhancing their overall compensation package.
- It indicates the continued vesting and performance of previously granted equity awards (RSUs and PSUs).
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
This filing is a routine insider transaction report related to executive compensation, common across all publicly traded industries. It reflects the standard practice of granting equity-based incentives to key management personnel.
Comparison to Industry Standards
- The accrual of dividend equivalent rights on restricted and performance stock units is a common component of executive compensation packages in many industries, aligning executive interests with shareholder returns.
- The structure of time-based RSUs and performance-based PSUs is a standard approach to incentivize long-term performance and retention, consistent with practices at comparable industrial materials and services companies.
Stakeholder Impact
- Shareholders: The accrual of DERs is part of the executive compensation structure, which is a cost to the company but aims to align management incentives with shareholder value creation.
- Employees: This filing specifically relates to a senior executive's compensation and does not directly impact the broader employee base.
Key Dates
| Date | Description |
|---|---|
| January 4, 2022 | Grant date for a portion of the Restricted Stock Units (RSUs) to which DERs accrued. |
| January 4, 2023 | Grant date for a portion of the Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) to which DERs accrued. |
| January 4, 2024 | Grant date for a portion of the Restricted Stock Units (RSUs) to which DERs accrued. |
| January 3, 2025 | Grant date for a portion of the Restricted Stock Units (RSUs) to which DERs accrued. |
| December 16, 2025 | Transaction date for the accrual of 522 Dividend Equivalent Rights. |
| December 17, 2025 | Date the Form 4 was signed by the attorney-in-fact for the reporting person. |
Keywords
Koppers Holdings Inc., KOP, Dividend Equivalent Rights, DERs, Restricted Stock Units, RSUs, Performance Stock Units, PSUs, Insider Transaction, Executive Compensation, Form 4
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