Form 4: Stepan Co. Executive Richard Finn Stepan Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Richard Finn Stepan, a V.P. and General Manager at Stepan Co., reported the withholding of 342 common stock shares to cover tax obligations related to vested performance shares.
Summary
- On March 8, 2024, Richard Finn Stepan, a V.P. and General Manager at Stepan Co., reported a transaction involving the withholding of 342 common stock shares.
- The shares were withheld to cover tax obligations arising from performance shares that vested on February 15, 2024.
- The withholding price was $87.53 per share.
- Following the transaction, Stepan directly owns 218,109 shares of Stepan Co. common stock.
Sentiment
Score: 5
Explanation: This is a neutral report on a routine transaction. It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This is a routine filing related to insider transactions and is common for executives who receive stock-based compensation.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it involves a small number of shares withheld for tax purposes.
Key Dates
| Date | Description |
|---|---|
| February 15, 2024 | Performance shares vested. |
| March 08, 2024 | Date of share withholding transaction. |
| March 11, 2024 | Date of signature on the report. |
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