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

Luis Rojo, VP & Chief Financial Officer of Stepan Co., files an amended Form 4/A to correct the number of shares received from performance shares vesting.

Summary

• Luis Rojo, the VP & Chief Financial Officer of Stepan Co., filed an amended Form 4/A on March 8, 2024, to correct a previously reported transaction.
• The amendment addresses an error in the number of shares received as a result of performance shares vesting.
• The original Form 4, filed on February 20, 2024, contained a miscalculation due to an administrative error.
• The corrected filing indicates that Mr. Rojo acquired 1,488 shares of common stock on February 15, 2024, through the vesting of performance shares.
• Following the reported transaction, Mr. Rojo beneficially owns 9,086.375 shares of Stepan Co. common stock directly.
• The performance shares vested upon the 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: 7

Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The correction of an error is a neutral event.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. Amendments, like this Form 4/A, are sometimes necessary to correct errors or omissions in the original filings.

Key Dates