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 shares to cover tax obligations related to vested performance shares.
Summary
- On March 13, 2025, David Kabbes, VP, GC & Secretary of Stepan Co., reported a transaction involving the withholding of 568 common shares to cover tax obligations.
- The shares were withheld at a price of $58.19 per share.
- Following the transaction, Kabbes directly owns 11,839.8917 common shares and indirectly owns 401.74 shares through an ESOP II Trust and shares through the DGK Living Trust.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing related to tax obligations, so the sentiment is neutral.
Industry Context
Form 4 filings are a routine part of compliance for corporate insiders and provide transparency into their transactions in company stock.
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 18, 2025 | Date of performance shares vesting, previously reported on Form 4 filed February 19, 2025. |
| February 19, 2025 | Date Form 4 was filed for the reporting person. |
| March 13, 2025 | Date of the share withholding transaction. |
| March 17, 2025 | Date of signature on the Form 4 filing. |
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