4/A: LyondellBasell Executive Dale D. Friedrichs Reports Share Transactions and Corrects Beneficial Ownership Calculation

EVP Dale D. Friedrichs reports share transactions related to vesting of performance-based stock units and dividend equivalents, along with a correction to previously reported beneficial ownership.

Summary

• On February 21, 2024, Dale D. Friedrichs, an Executive Vice President at LyondellBasell Industries N.V., engaged in transactions involving Class A Ordinary Shares.
• These transactions included the disposal of shares to cover tax withholding obligations related to vesting performance-based stock units and dividend equivalents.
• Friedrichs also acquired shares through the vesting of performance-based stock units and settlement of dividend equivalents.
• The reporting person's total beneficial ownership after these transactions is 33,006 Class A Ordinary Shares.
• This Form 4/A is being filed to correct a computer systems error that incorrectly calculated the total beneficial ownership of the reporting person.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and related to executive compensation. The correction of the beneficial ownership calculation is a positive sign of transparency.

Positives

• The vesting of performance-based stock units indicates that certain performance objectives were met, which is a positive sign for the company's performance.
• The correction of the beneficial ownership calculation demonstrates transparency and adherence to regulatory requirements.

Industry Context

Executive share transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's confidence in the company's future prospects. This filing is a routine disclosure related to equity compensation.

Comparison to Industry Standards

• LyondellBasell's long-term incentive plan, which includes restricted stock units (RSUs) and performance-based stock units, is a common practice among large, publicly traded companies like Dow Chemical, BASF, and ExxonMobil.
• These companies use equity-based compensation to align the interests of executives with those of shareholders and to incentivize long-term value creation.
• The vesting schedules of the RSUs, typically over a 3-4 year period, are also standard in the industry, ensuring executive retention and commitment to the company's goals.

Stakeholder Impact

• The vesting of stock units and related tax obligations have a minor impact on the company's financials.
• The correction of the beneficial ownership calculation ensures accurate reporting to shareholders.

Key Dates