4/A: Stepan Co. Executive Corrects Share Acquisition Calculation After Performance Share Vesting

Richard F. Stepan, V.P. and Gen'l. Mgr., Polymers at Stepan Co., files an amended Form 4/A to correct the number of shares acquired due to performance shares vesting.

Summary

• Richard Finn Stepan, a V.P. and Gen'l. Mgr. at Stepan Co., filed an amended Form 4/A on March 8, 2024, to correct a miscalculation in the number of shares received from performance shares vesting.
• The original Form 4, filed on February 20, 2024, contained an error due to an administrative mistake.
• The corrected filing indicates that Mr. Stepan acquired 993 shares of common stock on February 15, 2024, as a result of performance shares vesting.
• Following the transaction, Mr. Stepan beneficially owns 218,262 shares of Stepan Co. common stock directly.
• The performance shares vested upon certification of Stepan Company achieving certain performance goals for the performance period ending December 31, 2023.
• Each performance share represents a contingent right to receive one share of Stepan Company common stock.

Sentiment

Score: 6

Explanation: The document is a routine correction of a previous filing. While the initial error is a minor negative, the correction itself is a positive sign of transparency and adherence to regulations.

Negatives

• An administrative error led to a miscalculation in the initial reporting of shares acquired.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Amended filings, like this one, highlight the importance of accuracy in reporting.

Stakeholder Impact

• The correction ensures accurate information is available to shareholders regarding insider ownership.

Key Dates