Form 4: Stepan Co. Executive Richard Finn Stepan Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Richard Finn Stepan, V.P. and Gen'l. Mgr., Polymers at Stepan Co., reports the withholding of shares to cover tax obligations related to vested performance shares.
Summary
- On March 13, 2025, Richard Finn Stepan, a V.P. and Gen'l. Mgr. at Stepan Co., had 426 shares of common stock withheld to cover tax obligations.
- The shares were withheld at a price of $58.19 per share.
- Following the transaction, Stepan directly owns 220,345.292 shares of Stepan Co. common stock.
- Stepan also indirectly owns shares through his daughter (43,439), son (43,439), spouse (5,174), a trust (92,967), and an ESOP II Trust (1,238.22).
Sentiment
Score: 5
Explanation: This is a routine filing related to tax obligations, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the withholding of shares for tax purposes, which is a normal part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| February 18, 2025 | Performance shares vested (reported on Form 4 filed February 19, 2025). |
| February 19, 2025 | Date of Form 4 filing reporting vested performance shares. |
| March 13, 2025 | Date of share withholding for tax obligations. |
| March 17, 2025 | Date of signature on the Form 4 filing. |
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