Form 4: Stepan Co. Executive VP Haire Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President of Supply Chain at Stepan Co., Robert Joseph Haire, reports the vesting and subsequent sale of restricted stock units to cover tax obligations.
Summary
- Robert Joseph Haire, EVP of Supply Chain at Stepan Co., filed a Form 4 detailing changes in beneficial ownership.
- On May 1, 2024, 549 restricted stock units (RSUs) vested and were settled in shares of common stock.
- Simultaneously, 182 shares were withheld to satisfy tax liabilities related to the vesting of the RSUs at a price of $84.322 per share.
- Haire also reported indirect beneficial ownership of 32.375 shares held by an ESOP II Trust, which includes exempt acquisitions under Rule 16a-11 pursuant to dividend reinvestments.
- Following these transactions, Haire directly owns 367 shares of common stock and indirectly owns 32.375 shares through the ESOP II Trust, as well as 1,100 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, ensuring fair market practices.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.
Key Dates
| Date | Description |
|---|---|
| 05/01/2024 | Date of RSU vesting and stock transactions. |
| 05/01/2024 | Vesting start date for remaining restricted stock units. |
| 05/03/2024 | Date of signature for the Form 4 filing. |
| 05/01/2033 | Expiration date for restricted stock units. |
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