Form 4: LyondellBasell CEO Peter Vanacker Reports Share Disposal for Tax Obligations
SEC Form 4 Filing
LyondellBasell's CEO, Peter Vanacker, disposed of 6,063 Class A Ordinary Shares to cover tax obligations related to vesting restricted stock units.
Summary
- On February 22, 2025, Peter Vanacker, CEO of LyondellBasell Industries N.V., disposed of 6,063 Class A Ordinary Shares.
- The shares were withheld by the issuer to satisfy tax withholding obligations related to the vesting of 15,407 restricted stock units granted on February 22, 2024.
- Following the transaction, Vanacker beneficially owns 104,405 Class A Ordinary Shares, which includes 82,155 restricted stock units vesting at various dates in the future.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation. It doesn't indicate any significant positive or negative developments for the company.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common among publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time.
- The practice of withholding shares to cover tax obligations is standard across many companies, including competitors like Dow and BASF.
- The vesting schedules and amounts of RSUs are generally in line with industry norms for executive compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a standard procedure for covering tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| February 22, 2024 | Date of grant for 46,219 restricted stock units, part of which vested on February 22, 2025. |
| May 23, 2022 | Date of grant for 23,132 restricted stock units that vest on May 23, 2025. |
| February 23, 2023 | Date of grant for 28,211 restricted stock units that vest on February 23, 2026. |
| February 22, 2025 | Date of transaction: Disposal of 6,063 shares to cover tax obligations and vesting of 15,407 restricted stock units. |
| February 22, 2026 | Vesting date for 15,406 restricted stock units. |
| February 22, 2027 | Vesting date for 15,406 restricted stock units. |
| February 25, 2025 | Date of signature for the Form 4 filing. |
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