Form 4: Stepan Co. Executive David Kabbes Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
David Kabbes, VP, GC & Secretary of Stepan Co., reports the withholding of 351 common stock shares to cover tax obligations related to vested performance shares.
Summary
- On March 8, 2024, David Kabbes, VP, GC & Secretary of Stepan Co., reported a transaction involving the withholding of 351 shares of common stock.
- The shares were withheld to cover tax obligations related to performance shares that vested on February 15, 2024.
- The price per share for the withholding was $87.53.
- Following the transaction, Kabbes indirectly owns 8,417.7177 shares through the DGK Living Trust.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to tax obligations, and doesn't indicate positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| February 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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