4/A: Stepan Co. CEO Corrects Share Acquisition Details After Performance Shares Vest

Scott R. Behrens, President & CEO of Stepan Co., files an amendment to a previous Form 4 to correct the number of shares received from vesting performance shares.

Summary

• Scott R. Behrens, the President & CEO of Stepan Co., filed an amended Form 4 (Form 4/A) with the SEC on March 8, 2024.
• This amendment corrects the number of shares acquired on February 15, 2024, due to the vesting of performance shares.
• The original Form 4, filed on February 20, 2024, contained a miscalculation due to an administrative error.
• The corrected filing shows that Mr. Behrens acquired 2,205 shares of Common Stock as a result of the performance shares vesting.
• Following the transaction, Mr. Behrens directly owns 16,715.404 shares of Stepan Co. Common Stock.
• The performance shares vested upon certification that Stepan Company achieved certain performance goals for the performance period ending December 31, 2023.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing. The correction of an administrative error is a neutral event.

Negatives

• The original Form 4 filed on February 20, 2024, contained a miscalculation of the number of shares acquired.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Amendments, like this one, are sometimes necessary to correct errors or omissions in the original filings.

Key Dates