4/A: LyondellBasell Executive James Seward Reports Share Transactions Following Vesting of Performance-Based Stock Units

EVP and Chief Innovation Officer of LyondellBasell, James Seward, reports acquisition and disposal of Class A Ordinary Shares to cover tax obligations and dividend equivalents related to vested performance-based stock units.

Summary

• James Seward, EVP & Chief Innovation Officer of LyondellBasell Industries N.V., reported transactions involving Class A Ordinary Shares on February 21, 2024.
• The transactions included the disposal of 2,838 shares and 577 shares to satisfy tax withholding obligations related to the vesting of performance-based stock units and dividend equivalents, respectively, at a price of $97.38 per share.
• Seward also acquired 5,732 shares related to previously granted performance-based stock units and 1,164 shares from the settlement of dividend equivalents, both at $97.38 per share.
• Following these transactions, Seward beneficially owns 24,660 Class A Ordinary Shares.
• This Form 4/A is an amendment to a previous filing to correct a computer systems error in calculating the total beneficial ownership.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and related to compensation. The vesting of performance-based stock units is a slightly positive indicator.

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.

Industry Context

Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's perspective on the company's performance and future prospects. This transaction is related to vesting of stock awards and tax obligations.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
• The vesting schedules and performance metrics associated with these awards are typically benchmarked against industry peers to ensure competitiveness and effectiveness.
• LyondellBasell's long-term incentive plan, under which these stock units were granted, is likely structured similarly to those of other large chemical companies such as Dow, BASF, and ExxonMobil, with a mix of time-based and performance-based vesting criteria.

Stakeholder Impact

• The vesting of performance-based stock units can be seen as a positive sign by shareholders, as it indicates that the company has met certain performance objectives.

Key Dates