Form 4: Koppers Officer Gains 245 Dividend Equivalent Rights

Koppers Holdings Inc.'s Chief Legal & Sustainability Officer, Stephanie L. Apostolou, acquired 245 dividend equivalent rights tied to restricted stock units.

Summary

• Stephanie L. Apostolou, Chief Legal & Sustainability Officer & Secretary of Koppers Holdings Inc., acquired 245 Dividend Equivalent Rights (DERs).
• The transaction occurred on December 16, 2025.
• These DERs accrued with respect to additional time-based and performance-based restricted stock units (RSUs and PSUs).
• Specifically, 208 DERs relate to RSUs granted on January 4, 2022, January 4, 2023, January 4, 2024, and January 3, 2025.
• An additional 37 DERs relate to PSUs granted on January 4, 2023.
• Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock.
• Following this transaction, Ms. Apostolou beneficially owns 349 DERs.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing reports a routine executive compensation event (accrual of DERs) which is generally a positive sign of executive alignment, but it's not a direct open-market purchase or a significant strategic announcement.

Positives

• The acquisition of Dividend Equivalent Rights (DERs) indicates continued accumulation of equity-linked compensation for a key executive, aligning their interests with shareholder value.
• The transaction was executed pursuant to a Rule 10b5-1 plan, suggesting a structured and pre-planned approach to executive equity management.

Future Outlook

NA

Industry Context

This is a routine insider transaction filing, common across all industries, reflecting executive compensation structures that often include equity-linked incentives like restricted stock units and dividend equivalent rights to align management interests with shareholder value.

Comparison to Industry Standards

• The use of Dividend Equivalent Rights (DERs) tied to Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) is a standard practice in executive compensation across various industries, including specialty chemicals and materials like Koppers Holdings Inc. This structure is designed to incentivize long-term performance and retention, aligning executive interests with shareholder returns.
• No specific comparable companies or projects are detailed in this filing, as it focuses solely on an individual executive's compensation.

Related Party Transactions

• The transaction involves an executive (Stephanie L. Apostolou) of Koppers Holdings Inc. acquiring derivative securities from the company as part of her compensation, which is considered a related party transaction.

Stakeholder Impact

• Shareholders: The accrual of DERs aligns executive interests with shareholder returns by linking compensation to common stock performance.
• Management: The transaction reflects the ongoing equity-based compensation for a key executive.

Key Dates

Keywords

Koppers Holdings Inc., KOP, Insider Transaction, Form 4, Dividend Equivalent Rights, DERs, Restricted Stock Units, RSUs, Performance Stock Units, PSUs, Executive Compensation, Stephanie L. Apostolou, Rule 10b5-1