Form 4: Stepan Co. Executive VP Settles Restricted Stock Units, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Robert Joseph Haire, Executive VP of Supply Chain at Stepan Co., settled restricted stock units and disposed of shares to cover tax liabilities on May 1, 2025.
Summary
- On May 1, 2025, Robert Joseph Haire, Executive VP of Supply Chain at Stepan Co., settled 550 restricted stock units (RSUs) which converted into common stock.
- Haire also disposed of 162 shares of common stock to satisfy tax obligations related to the vesting of the RSUs at a price of $51.855 per share.
- Following these transactions, Haire directly owns 1,141 shares of Stepan Co. common stock and 593 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by an executive, with no inherent positive or negative implications for the company's overall performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding insider transactions and aligns with regulatory requirements.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are standard practice among publicly traded companies like Stepan Co.
- Companies such as Ecolab, BASF, and Dow also utilize similar equity-based compensation to align executive interests with shareholder value.
- The vesting schedules and tax withholding practices are generally consistent with industry norms for executive compensation.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it reflects insider activity related to executive compensation.
- Employees may be interested in the details of executive compensation packages.
Key Dates
| Date | Description |
|---|---|
| 05/05/2023 | Date of execution for the Power of Attorney. |
| 03/04/2025 | Date from which Restricted Stock Units vest ratably over three years. |
| 05/01/2025 | Date of transaction: settlement of restricted stock units and disposal of shares for tax liability. |
| 03/04/2027 | Expiration date of the Restricted Stock Units. |
| 05/05/2025 | Date of signature for the Form 4 filing. |
Keywords
Form 4, Stepan Co, Robert Haire, Executive VP, Supply Chain, Restricted Stock Units, RSU, Common Stock, Beneficial Ownership, Tax Liability, Securities Exchange Act, Section 16
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