Form 4: Koppers Holdings Inc. Executive Acquires Dividend Equivalent Rights
SEC Form 4 Filing
Kevin Washington, VP of External Relations at Koppers Holdings Inc., acquired 33 dividend equivalent rights related to previously granted restricted stock units.
Summary
- Kevin Washington, a Vice President at Koppers Holdings Inc., has reported the acquisition of 33 dividend equivalent rights.
- These rights are associated with previously granted restricted stock units (RSUs) and performance-based stock units (PSUs).
- 29 of the dividend equivalent rights are linked to RSUs granted on June 13, 2022, January 4, 2023, and January 4, 2024.
- The remaining 4 dividend equivalent rights are tied to PSUs granted on January 4, 2023.
- Each dividend equivalent right represents the economic equivalent of one share of Koppers Holdings Inc. common stock.
Sentiment
Score: 7
Explanation: The document is a routine filing related to executive compensation, indicating a neutral to slightly positive sentiment as it reflects the ongoing operation of the company's compensation plans.
Industry Context
This is a routine filing related to executive compensation and is common practice for companies that use equity-based compensation.
Comparison to Industry Standards
- The use of dividend equivalent rights is a common practice in executive compensation packages, particularly for companies that grant restricted stock units and performance-based stock units.
- Many companies in the materials and manufacturing sector, such as Westlake Chemical and LyondellBasell, use similar equity compensation structures.
- The number of rights granted is relatively small and is likely tied to the vesting of previously granted equity awards.
Stakeholder Impact
- The acquisition of dividend equivalent rights has a minor positive impact on the executive's compensation.
- The impact on shareholders is negligible as it is a small number of rights related to existing equity grants.
Key Dates
| Date | Description |
|---|---|
| 06/13/2022 | Date of grant for some of the restricted stock units related to the dividend equivalent rights. |
| 01/04/2023 | Date of grant for some of the restricted stock units and performance stock units related to the dividend equivalent rights. |
| 01/04/2024 | Date of grant for some of the restricted stock units related to 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, restricted stock units, performance stock units, Koppers Holdings Inc., insider trading, equity compensation
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