Form 4: Stepan Co. Executive Samuel Hinrichsen Reports Stock Transactions
SEC Form 4 Filing
Stepan Co.'s VP and Interim CFO, Samuel Hinrichsen, reports the vesting and settlement of restricted stock units and associated tax withholding.
Summary
- On December 31, 2024, Samuel Hinrichsen, VP & Interim CFO of Stepan Co., reported transactions involving the company's common stock and restricted stock units (RSUs).
- 60 RSUs were settled in shares of common stock at a price of $64.972 per share.
- 18 shares were withheld to satisfy tax liabilities related to the vesting of the RSUs, also at a price of $64.972 per share.
- Following these transactions, Hinrichsen directly owns 238.134 shares of Stepan Co. common stock.
- The report also includes a correction to a previously reported RSU balance, adjusting it down by 120 RSUs due to an administrative error.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reports routine transactions related to executive compensation. The correction of an administrative error is a minor negative, but overall, the document doesn't convey strong positive or negative signals.
Negatives
- A previous report overstated the number of RSUs held by the reporting person by 120 RSUs due to an administrative error, requiring a correction.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment with company performance.
Stakeholder Impact
- Shareholders may be interested in tracking insider transactions as an indicator of management's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 12/31/2022 | Date from which Restricted Stock Units vest ratably over three years. |
| 12/31/2024 | Date of the reported transactions: settlement of RSUs and tax withholding. |
| 01/03/2025 | Date of the signature on the Form 4 filing. |
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