Form 4: Koppers Holdings Inc. Director David L. Motley Reports Changes in Beneficial Ownership
SEC Form 4
Director David L. Motley reports acquisition of dividend equivalent rights related to restricted stock units in Koppers Holdings Inc.
Summary
- On March 25, 2024, David L. Motley, a director of Koppers Holdings Inc., reported the acquisition of dividend equivalent rights (DERs) related to restricted stock units (RSUs).
- Motley acquired 5.651 DERs related to additional time-based RSUs credited to his deferred compensation account.
- He also acquired 20 DERs related to additional RSUs granted on May 4, 2023.
- Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock.
- Following the reported transactions, Motley beneficially owns 63.493 DERs and 83.493 DERs.
- The RSUs corresponding to these DERs will become payable either in a lump sum or in annual installments commencing on May 31st following Motley's separation from service, according to his payment election under the Koppers Holdings Inc. Director Deferred Compensation Plan.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing changes in beneficial ownership, indicating a neutral sentiment.
Future Outlook
The timing and form of payment for the RSUs corresponding to the DERs will be determined by Motley's elections under the Koppers Holdings Inc. Director Deferred Compensation Plan, with payments commencing after his separation from service.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership by a company director, which is common in publicly traded companies. It reflects the director's compensation and investment in the company.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the compensation and ownership stake of a company director.
Key Dates
| Date | Description |
|---|---|
| 03/25/2024 | Date of transaction: Acquisition of dividend equivalent rights. |
| 03/27/2024 | Date of signature of the report. |
| May 4, 2023 | Date of grant of additional RSUs. |
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