Form 4: LyondellBasell Executive Aaron Ledet Reports Share Withholding for Tax Obligations

LyondellBasell's EVP, Aaron J. Ledet, reports the withholding of 74 Class A Ordinary Shares to cover tax obligations related to vesting restricted stock units.

Summary

• On April 1, 2024, LyondellBasell Industries N.V. executive Aaron J. Ledet had 74 Class A Ordinary Shares withheld to satisfy tax obligations.
• This withholding occurred in connection with the vesting of 300 shares of restricted stock units granted on April 1, 2022.
• Following the transaction, Ledet directly owns 6,658 Class A Ordinary Shares.
• These shares include 5,923 restricted stock units (RSUs) granted under the company's long-term incentive plan with various vesting dates ranging from February 2025 to February 2027.

Sentiment

Score: 7

Explanation: This Form 4 filing is a routine disclosure of a transaction related to executive compensation. It doesn't indicate any significant positive or negative sentiment, but reflects standard operational procedures.

Industry Context

This is a routine Form 4 filing, reflecting standard practice for executives receiving equity compensation. It is common for companies to withhold shares to cover tax obligations upon the vesting of restricted stock units.

Comparison to Industry Standards

• Equity compensation is a standard practice across publicly traded companies to align executive incentives with shareholder value.
• Companies like Dow, DuPont, and BASF also utilize restricted stock units as part of their executive compensation packages.
• The vesting schedules and tax withholding practices are generally consistent with industry norms.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine tax-related share withholding.
• The transaction affects the reporting person's holdings of LyondellBasell shares.

Key Dates