Form 4: LyondellBasell Executive Vice President van der Laan Reports Share Transaction
SEC Form 4
Yvonne van der Laan, Executive Vice President at LyondellBasell, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On February 25, 2024, Yvonne van der Laan, an Executive Vice President at LyondellBasell Industries N.V., had 203 Class A Ordinary Shares withheld by the issuer to cover tax obligations.
- This transaction occurred at a price of $99.27 per share.
- Following the transaction, van der Laan beneficially owns 8,317 Class A Ordinary Shares, including 6,578 restricted stock units (RSUs) that vest over various dates in the future.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, and the transaction is related to tax obligations on vested equity. Therefore, the sentiment is neutral.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and tax obligations, common among publicly traded companies. It provides transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives, ensuring compliance with SEC regulations.
- The vesting schedules of the RSUs are typical for long-term incentive plans, aligning executive compensation with company performance over several years.
- Companies like Dow, BASF, and SABIC also regularly disclose similar transactions by their executives.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it is a routine adjustment of share ownership related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| September 27, 2022 | Date of Power of Attorney execution. |
| February 24, 2022 | Grant date of 400 RSUs vesting on February 24, 2025. |
| April 1, 2022 | Grant date of 110 RSUs vesting on April 1, 2024. |
| October 15, 2022 | Grant date of 273 RSUs vesting on October 15, 2025. |
| February 23, 2023 | Grant date of 1,595 RSUs vesting on February 23, 2026. |
| February 22, 2024 | Grant date of 4,200 RSUs, vesting in three tranches on February 22, 2025, 2026, and 2027. |
| February 25, 2024 | Date of share withholding transaction. |
| February 27, 2024 | Date of signature by Attorney-in-Fact. |
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