Form 4: LyondellBasell Executive Tracey D. Campbell Reports Share Transactions
SEC Form 4 Filing
Tracey D. Campbell, EVP of Sustainability & Corporate Affairs at LyondellBasell, reports the withholding of shares for tax obligations and an ESPP purchase.
Summary
- On April 1, 2024, Tracey D. Campbell, EVP of Sustainability & Corporate Affairs at LyondellBasell Industries N.V., reported transactions involving Class A Ordinary Shares.
- 74 shares were withheld by the issuer to cover tax obligations related to the vesting of 300 restricted stock units (RSUs) granted on April 1, 2022, at a price of $102.07.
- Campbell also reported an ESPP purchase of 121.355350 shares for $85.57 per share, allocated on March 31, 2024.
- Following these transactions, Campbell directly owns 8,920.35 Class A Ordinary Shares and indirectly owns 4,035.4 shares through a spouse.
- The reported holdings include 4,076 restricted stock units (RSUs) vesting at various dates in the future.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and insider trading reporting, suggesting a neutral to slightly positive sentiment due to continued investment in the company.
Positives
- The reporting person continues to hold a significant number of shares and RSUs in the company, indicating confidence in its future performance.
- Participation in the ESPP demonstrates a commitment to the company's long-term success.
Industry Context
This filing is a routine disclosure related to executive compensation and share ownership, common in publicly traded companies. It provides transparency regarding insider transactions.
Comparison to Industry Standards
- Executive compensation practices, including the use of RSUs and ESPPs, are common among large, publicly traded companies like LyondellBasell.
- Companies such as Dow, BASF, and ExxonMobil also utilize similar compensation structures to incentivize and retain key personnel.
- The vesting schedules and terms of the RSUs are generally in line with industry standards for long-term incentive plans.
Stakeholder Impact
- Shareholders are informed about executive share ownership and transactions.
- Employees participating in the ESPP benefit from the opportunity to purchase company shares at a potentially discounted price.
Key Dates
| Date | Description |
|---|---|
| 09/27/2022 | Power of Attorney executed. |
| 04/01/2022 | Grant date of restricted stock units related to tax withholding. |
| 02/24/2022 | Grant date of 540 RSUs vesting on February 24, 2025. |
| 10/15/2022 | Grant date of 176 RSUs vesting on October 15, 2025. |
| 02/23/2023 | Grant date of 1,155 RSUs vesting on February 23, 2026. |
| 02/22/2024 | Grant date of 2,205 RSUs vesting on February 22, 2025, 2026 and 2027. |
| 03/31/2024 | ESPP purchase of 121.355350 shares allocated. |
| 04/01/2024 | Date of share withholding for tax obligations. |
| 04/03/2024 | Date of Form 4 filing. |
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