4/A: Koppers Holdings Inc. Director Corrects Previous SEC Filings Regarding RSU and DER Transactions

Sonja Michelle Wilkerson, a director of Koppers Holdings Inc., filed an amended Form 4 to correct inaccuracies in previously reported transactions involving Restricted Stock Units (RSUs) and Dividend Equivalent Rights (DERs).

Summary

• Sonja Michelle Wilkerson, a director at Koppers Holdings Inc., filed an amendment to a previous Form 4 filing with the SEC.
• The amendment corrects errors in reporting transactions related to Restricted Stock Units (RSUs) and Dividend Equivalent Rights (DERs).
• The original filings inadvertently reported 3,513 RSUs and 20 DERs in Table I, which should have been reported in Table II.
• The director directly owns 17,216 shares of common stock.
• The corrected filing reports the award of 3,513 RSUs under the Koppers Holdings Inc. Director Deferred Compensation Plan.
• It also clarifies the accrual of 20 DERs related to RSUs granted on May 4, 2023, and 20.219 DERs related to deferred compensation.
• Each DER is economically equivalent to one share of Koppers Holdings Inc. common stock.

Sentiment

Score: 6

Explanation: The document is a routine correction of a regulatory filing. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Negatives

• The need for an amended filing indicates previous inaccuracies in reporting RSU and DER transactions.

Risks

• Inaccurate reporting of transactions can lead to regulatory scrutiny and potential penalties.

Future Outlook

The RSUs corresponding to the DERs will become payable according to the election of payment designation that was filed by the reporting person subject to the Plan. Such payment will be either lump sum or in annual installments commencing on the May 31st next following the reporting person's separation from service (as defined under the Plan) or, if later, and elected by the reporting person at the time he/she first elects to defer any payment under the Plan, May 31st of the year specified by the reporting person.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Comparing Koppers' director compensation and equity ownership with similar companies in the specialty chemical or materials industry would provide a benchmark.
• Companies like Cabot Corporation or Hexcel Corporation could be considered for comparison regarding director compensation structures and equity ownership.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders regarding director equity ownership and compensation.

Key Dates