4/A: Olin Corp Director Julie A. Piggott Reports Acquisition of Phantom Stock Units

Director Julie A. Piggott reports acquiring phantom stock units as part of annual director compensation, with an amendment to correct a previous filing.

Summary

• Julie A. Piggott, a director of Olin Corporation, filed an amended Form 4 with the SEC.
• The amendment corrects a previous filing from May 1, 2024, regarding the grant of securities.
• Piggott acquired 2,949 phantom stock units on May 1, 2024, as part of her annual director compensation under the Olin Corporation 1997 Stock Plan for Non-Employee Directors.
• These units convert to common stock on a one-to-one basis.
• The price of the phantom stock units was $52.58.
• Following the reported transaction, Piggott beneficially owns 5,314.751 derivative securities.
• The filing also notes that 761 Phantom Stock Units were incorrectly reported as a grant of Common Stock on the reporting person's Form 4 filed on May 1, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing is a routine disclosure, and the amendment indicates a commitment to accuracy. The acquisition of phantom stock units aligns director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The amendment indicates transparency and a commitment to accurate reporting.

Industry Context

This filing is a routine disclosure related to director compensation, which is a common practice among publicly traded companies. The use of phantom stock units is a typical method to align director interests with shareholder value.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units.
• Phantom stock units are a common alternative to direct stock grants, providing similar economic benefits without immediate dilution.
• Companies like Dow Chemical and DuPont also utilize equity-based compensation for their directors.

Related Party Transactions

• The grant of phantom stock units to a director is a related party transaction that is disclosed as required by SEC regulations.

Stakeholder Impact

• The acquisition of phantom stock units by a director can have a positive impact on shareholders by aligning management's interests with theirs.
• The disclosure provides transparency to stakeholders regarding director compensation.

Key Dates