Form 4: Stepan Co. Executive VP Robert Haire Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President of Supply Chain at Stepan Co., Robert Joseph Haire, reports acquisition and disposal of common stock and derivative securities.
Summary
- Robert Joseph Haire, EVP of Supply Chain at Stepan Co., filed a Form 4 detailing changes in beneficial ownership.
- On March 3, 2025, Haire acquired 7,075 Stock Appreciation Rights (SARs) and 5,012 Restricted Stock Units (RSUs), and 2,506 Performance Shares.
- On March 4, 2025, 571 RSUs were settled in shares of common stock at $57.275 per share.
- Also on March 4, 2025, 185 shares were withheld to cover tax liabilities related to the vesting of RSUs at $57.275 per share.
- Haire indirectly owns 90.269 shares of common stock through an ESOP II Trust.
- Following these transactions, Haire directly owns 7,075 SARs, 5,012 RSUs, 2,506 Performance Shares, and 1,143 RSUs.
- The SARs expire on March 3, 2035, and the RSUs vest ratably over three years beginning on the date shown.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive, with no inherent positive or negative sentiment.
Future Outlook
The Restricted Stock Units vest ratably over three years beginning on the date shown, and the performance shares vest upon the certification of Stepan Company achieving certain performance goals for the performance period ending December 31, 2027.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders and their holdings in the company's securities.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions.
- Employees participating in the ESOP may be interested in the reported transactions.
Key Dates
| Date | Description |
|---|---|
| 03/03/2025 | Date of acquisition of Stock Appreciation Rights, Restricted Stock Units, and Performance Shares |
| 03/04/2025 | Date of settlement of Restricted Stock Units for common stock and withholding of shares for tax liability |
| 03/03/2026 | First vesting date for Stock Appreciation Rights and Restricted Stock Units |
| 03/04/2027 | Vesting date for Restricted Stock Units |
| 12/31/2027 | End of performance period for Performance Shares |
| 03/03/2028 | Vesting date for Restricted Stock Units |
| 03/03/2035 | Expiration date for Stock Appreciation Rights |
| 03/05/2025 | Date of signature for the Form 4 filing |
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