Form 4: Stepan Co. Executive David Kabbes Reports Stock Transactions
SEC Form 4 Filing
David Kabbes, VP, GC & Secretary of Stepan Co., reports the vesting and settlement of restricted stock units, along with associated tax withholding.
Summary
- On March 4, 2025, David Kabbes, VP, GC & Secretary of Stepan Co., reported transactions involving common stock and restricted stock units.
- 571 restricted stock units (RSUs) were settled, resulting in the acquisition of 571 shares of common stock at a price of $57.275 per share.
- 168 shares were withheld to cover tax liabilities related to the vesting of the RSUs, also at a price of $57.275 per share.
- Following these transactions, Kabbes beneficially owns 12,407.8917 shares of common stock indirectly through the DGK Living Trust, and 401.74 shares indirectly through the ESOP II Trust.
- He also directly owns 1,143 restricted stock units.
Sentiment
Score: 5
Explanation: This is a routine disclosure of insider transactions. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade their company's stock. This provides transparency to the market regarding insider activity.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/04/2025 | Date of earliest transaction: settlement of restricted stock units and withholding of shares for tax liability. |
| 03/04/2025 | Date the restricted stock units were settled in shares of common stock. |
| 03/04/2025 | Date the restricted stock units vest ratably over three years beginning on date shown. |
| 03/05/2025 | Date of signature on the Form 4 filing. |
| 03/04/2027 | Expiration date of the restricted stock units. |
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