Form 4: LyondellBasell Director Lincoln E. Benet Reports Share Disposal for Tax Obligations

Director Lincoln E. Benet of LyondellBasell Industries N.V. reports disposal of shares to cover tax withholding obligations following vesting of restricted stock units.

Summary

• On May 18, 2024, LyondellBasell Industries N.V. Director Lincoln E. Benet disposed of 899 Class A Ordinary Shares to satisfy tax withholding obligations.
• This disposal occurred after 1,860 restricted stock units vested.
• Following the transaction, Benet directly owns 8,704 Class A Ordinary Shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral. This is a routine transaction related to tax obligations and doesn't indicate a significant change in the director's outlook on the company.

Industry Context

This is a routine transaction related to executive compensation and tax obligations, common in publicly traded companies. It doesn't necessarily reflect a change in the director's confidence in the company.

Comparison to Industry Standards

• Tax withholding practices related to vesting of restricted stock units are standard across publicly traded companies.
• The number of shares withheld for taxes is generally in line with standard tax rates and company policies.
• Similar transactions are regularly reported by executives at companies like Dow, BASF, and ExxonMobil.

Stakeholder Impact

• The transaction has minimal impact on shareholders as it is a routine disposal of shares for tax purposes.

Key Dates