4/A: LyondellBasell Executive Tracey D. Campbell Corrects Beneficial Ownership Report

Tracey D. Campbell, EVP at LyondellBasell, files an amended Form 4 to correct a computer systems error in the previously reported total beneficial ownership.

Summary

• Tracey D. Campbell, an Executive Vice President at LyondellBasell Industries N.V., filed an amended Form 4 on February 28, 2024, to correct a previously reported error in the calculation of total beneficial ownership.
• The original filing date was February 23, 2024.
• The transactions reported include the disposition of shares to cover tax withholding obligations related to vesting performance-based stock units, the earning of shares from performance-based stock units, and purchases through the Employee Stock Purchase Plan (ESPP).
• On February 21, 2024, 695 shares were disposed of to cover tax obligations at a price of $97.38 per share related to the vesting of 2,166 performance-based stock units granted on February 25, 2021.
• An additional 142 shares were disposed of on the same date to cover tax obligations for dividend equivalents accrued on the performance-based stock units.
• Also on February 21, 2024, 2,166 shares were acquired from the vesting of performance-based stock units at a price of $97.38 per share.
• 440 shares were acquired from the settlement of dividend equivalents that accrued on the performance-based stock units prior to vesting at a price of $97.38 per share.
• The reporting person directly owns 6,934.99 Class A Ordinary Shares and indirectly owns 3,431.475 shares through a spouse.
• The filing also clarifies the vesting schedules for restricted stock units (RSUs) granted under the company's long-term incentive plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing is primarily a correction of a previous error and reflects routine transactions related to executive compensation.

Positives

• The executive's holdings include restricted stock units that vest over time, aligning their interests with the long-term performance of the company.
• The executive participates in the Employee Stock Purchase Plan (ESPP), demonstrating confidence in the company's future.

Industry Context

Executive stock transactions are a normal part of corporate governance and compensation practices. These transactions can provide insights into an executive's perspective on the company's value, but should be viewed in the context of their overall compensation package and personal financial planning.

Comparison to Industry Standards

• LyondellBasell's long-term incentive plan, which includes restricted stock units and performance-based stock units, is a common practice among large, publicly traded companies like Dow Chemical, BASF, and ExxonMobil.
• These companies use similar equity-based compensation to align executive interests with shareholder value and long-term company performance.
• The vesting schedules and performance metrics associated with these units are typically benchmarked against industry peers to ensure competitiveness and effectiveness.

Stakeholder Impact

• The correction of the beneficial ownership report ensures transparency for shareholders.
• The vesting of stock units and ESPP purchases reflect the executive's continued investment in the company's success.

Key Dates