Form 4: LyondellBasell Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Torkel Rhenman, EVP at LyondellBasell, disposed of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On February 25, 2024, Torkel Rhenman, an Executive Vice President at LyondellBasell Industries N.V., disposed of 2,313 Class A Ordinary Shares.
- The transaction was executed to satisfy tax withholding obligations related to the vesting of 5,878 restricted stock units granted on February 25, 2021.
- The shares were sold at a price of $99.27 per share.
- Following the transaction, Rhenman beneficially owns 76,091 Class A Ordinary Shares, including 22,752 restricted stock units that will vest in the future.
Sentiment
Score: 5
Explanation: Neutral sentiment as the transaction is a routine share disposal for tax purposes.
Industry Context
Executive share disposals for tax obligations are a common occurrence, especially after vesting of restricted stock units.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal by an executive.
Key Dates
| Date | Description |
|---|---|
| June 17 2019 | Date of Power of Attorney |
| February 25, 2021 | Date of grant of 5,878 restricted stock units. |
| February 24, 2022 | Date of grant of 5,970 restricted stock units. |
| February 23, 2023 | Date of grant of 6,361 restricted stock units. |
| February 25, 2024 | Date of share disposal to cover tax obligations. |
| February 22, 2024 | Date of grant of 10,421 restricted stock units. |
| February 24, 2025 | Vesting date of 5,970 restricted stock units. |
| February 22, 2025 | Vesting date of 3,475 restricted stock units. |
| February 23, 2026 | Vesting date of 6,361 restricted stock units. |
| February 22, 2026 | Vesting date of 3,473 restricted stock units. |
| February 22, 2027 | Vesting date of 3,473 restricted stock units. |
| February 27, 2024 | Date of signature by Attorney-in-Fact. |
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