Form 4: LyondellBasell Executive Kimberly Foley Reports Stock Transaction
SEC Form 4
Executive Vice President Kimberly Foley reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- Kimberly A. Foley, EVP at LyondellBasell Industries N.V., reported a transaction involving Class A Ordinary Shares on February 25, 2024.
- The transaction involved 352 shares withheld by the issuer to cover tax obligations related to the vesting of 1,444 restricted stock units.
- Following the transaction, Foley beneficially owns 45,832.547 Class A Ordinary Shares, which includes 18,735 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 is neither particularly positive nor negative, but rather a standard disclosure.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units, are common across the chemical and energy industries.
- Companies like Dow, BASF, and ExxonMobil also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and tax withholding practices are generally in line with industry norms.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine tax withholding.
- It provides transparency into executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| October 21, 2019 | Date of Power of Attorney execution. |
| February 25, 2021 | Date of grant of 1,444 restricted stock units related to the tax withholding. |
| February 24, 2022 | Date of grant of 2,193 restricted stock units vesting on February 24, 2025. |
| October 15, 2022 | Date of grant of 881 restricted stock units vesting on October 15, 2025. |
| February 23, 2023 | Date of grant of 5,566 restricted stock units vesting on February 23, 2026. |
| February 22, 2024 | Date of grant of 10,095 restricted stock units vesting in three equal tranches on February 22, 2025, 2026 and 2027. |
| February 25, 2024 | Date of the reported transaction (share withholding). |
| February 27, 2024 | Date of Form 4 filing. |
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