KOP Insider Filing: 28.255 Dividend Equivalent Rights Added; Prior Omission Fixed
Rhea-AI Filing Summary
Sonja Michelle Wilkerson, a director of Koppers Holdings Inc. (KOP), reported dividend equivalent rights (DERs) credited with certain restricted stock units (RSUs). The Form 4 shows a transaction dated 09/15/2025 recording 28.255 DERs acquired at a $0 price, increasing her reported beneficial ownership to 221.809 shares (or share equivalents). The filing states each DER is economically equivalent to one share of Koppers common stock and explains these DERs relate to deferred compensation payable under the company’s Director Deferred Compensation Plan, with payment timing elected by the reporting person. The filing also corrects prior reporting by adding 25.518 DERs that were inadvertently omitted from earlier disclosures. The submission is signed by an attorney-in-fact on behalf of the reporting person.
Positive
- Correction filed to include 25.518 DERs that were inadvertently omitted, improving disclosure accuracy
- Transparent explanation that DERs are economic equivalents of common shares and tied to the Director Deferred Compensation Plan
Negative
- Prior omission of 25.518 DERs required correction, indicating earlier under-reporting of director share-equivalents
Insights
TL;DR: Director received deferred-compensation DERs and the filing corrects an earlier omission; governance disclosure improved.
The Form 4 documents non-cash compensation in the form of dividend equivalent rights tied to RSUs under the Director Deferred Compensation Plan. Reporting the accrual and the correction of 25.518 previously unreported DERs enhances transparency on director compensation and ownership. Because the transaction is compensation-related and recorded at a $0 price, it does not reflect open-market trading risk or cash proceeds. The disclosure is routine but important for accurate insider ownership tracking.
TL;DR: Transaction is a compensation accrual with immaterial market impact; corrected prior omission is the primary takeaway.
The 09/15/2025 entry shows 28.255 DERs added and a post-transaction beneficial ownership of 221.809 share-equivalents. Because the DERs are economic equivalents of shares and were recorded at $0, there is no cash consideration or sale disclosed. The correction adding 25.518 DERs that were not previously reported is the only notable irregularity; it should be tracked for historical ownership consistency but is unlikely to materially affect KOP’s capitalization or liquidity.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Rights | 28.255 | $0.00 | -- |
Footnotes (1)
- The dividend equivalent rights ("DERs") accrued with respect to additional restricted stock unites ("RSUs") credited to the reporting person with respect to deferred compensation. Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock. Once released, the RSUs corresponding to these DERs will become payable according to the election of payment designation that was filed by the reporting person subject to the Koppers Holdings Inc. Director Deferred Compensation Plan (the "Plan"). Such payment will be either lump sum or in annual installments commencing on the May 31st next following the reporting person's separation from service (as defined under the Plan) or, if later, and elected by the reporting person at the time he/she first elects to defer any payment under the Plan, May 31st of the year specified by the reporting person. Includes 25.518 DERs that inadvertently were not previously reported.
