Form 4: Stepan Co. CFO Luis Rojo Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Luis Rojo, CFO of Stepan Co., reports the withholding of 445 common stock shares to cover tax obligations related to vested performance shares.
Summary
- On March 8, 2024, Luis Rojo, the VP & Chief Financial Officer of Stepan Co. (SCL), reported a transaction involving the withholding of 445 shares of common stock.
- The shares were withheld to cover tax obligations related to performance shares that vested on February 15, 2024.
- The withholding price was $87.53 per share.
- Following the transaction, Rojo directly owns 8,041.375 shares of Stepan Co. common stock.
Sentiment
Score: 7
Explanation: The document reflects a standard transaction related to executive compensation and tax obligations, indicating normal business operations. There is nothing to suggest a positive or negative outlook.
Industry Context
This is a routine transaction related to executive compensation and tax obligations, common across publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 02/15/2024 | Performance shares vested. |
| 03/08/2024 | Date of share withholding transaction. |
| 03/11/2024 | Date of signature on the Form 4 filing. |
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