Form 4: Stepan Co. President & CEO Luis Rojo Reports Share Withholding for Tax Obligations
SEC Form 4 Filing
Luis Rojo, President and CEO of Stepan Co., reports the withholding of shares to cover tax obligations related to vested performance shares.
Summary
- On March 13, 2025, Luis Rojo, President and CEO of Stepan Co., had 757 shares of common stock withheld to cover tax obligations.
- The withholding occurred at a price of $58.19 per share.
- Following the transaction, Rojo directly owns 10,992.901 shares and indirectly owns 511.83 shares through an ESOP II Trust.
Sentiment
Score: 5
Explanation: This is a neutral filing regarding a routine transaction (share withholding for taxes). It doesn't indicate positive or negative sentiment about the company's performance.
Industry Context
This is a routine Form 4 filing related to insider transactions, specifically the withholding of shares to cover tax obligations, which is a common practice among corporate executives.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations related to executive compensation.
Key Dates
| Date | Description |
|---|---|
| 02/18/2025 | Performance shares vested (reported on Form 4 filed on February 19, 2025). |
| 03/13/2025 | Date of share withholding for tax obligations. |
| 03/17/2025 | Date of signature on the Form 4 filing. |
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