Form 4: LyondellBasell Executive Vice President Reports Share Transactions
SEC Form 4
Jeffrey A. Kaplan, EVP and General Counsel of LyondellBasell, reports transactions involving Class A Ordinary Shares, including acquisitions and disposals to cover tax obligations related to stock units.
Summary
- On February 26, 2025, Jeffrey A. Kaplan, EVP and General Counsel of LyondellBasell Industries N.V., reported transactions involving the company's Class A Ordinary Shares.
- These transactions included the disposal of shares to satisfy tax withholding obligations related to dividend equivalents and the vesting of performance-based stock units.
- Kaplan also reported the acquisition of shares earned in connection with performance-based stock units and the settlement of dividend equivalents.
- Following these transactions, Kaplan beneficially owns 73,508 Class A Ordinary Shares, which includes 11,940 restricted stock units (RSUs) that vest over the next few years.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the document primarily reports routine transactions related to executive compensation. The vesting of performance-based 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 share transactions are a normal part of corporate governance and compensation practices. The vesting of performance-based stock units suggests alignment of executive compensation with company performance.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, and restricted stock units.
- Vesting schedules for RSUs are typically three to four years, which aligns with LyondellBasell's vesting schedule.
- Companies like Dow and BASF also use similar long-term incentive plans to align executive interests with shareholder value.
Stakeholder Impact
- The vesting of performance-based stock units can positively impact shareholder confidence as it indicates that performance goals are being met.
Key Dates
| Date | Description |
|---|---|
| February 24, 2022 | Date of original grant of performance-based stock units. |
| February 23, 2023 | Date of grant of 5,504 restricted stock units (RSUs) that vest on February 23, 2026. |
| February 22, 2024 | Date of grant of 9,655 restricted stock units (RSUs) vesting in tranches between February 2025 and February 2027. |
| February 22, 2025 | Vesting date of 3,219 restricted stock units (RSUs) granted on February 22, 2024. |
| February 26, 2025 | Date of reported transactions: disposal of shares for tax obligations and acquisition of shares from vested performance-based stock units and dividend equivalents. |
| February 28, 2025 | Date of signature on the Form 4 filing. |
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