KOP Insider Filing: 28.254 Dividend Equivalent Rights Reported; 25.518 Corrected
Rhea-AI Filing Summary
David L. Motley, a director of Koppers Holdings Inc. (KOP), reported acquisition of 28.254 dividend equivalent rights (DERs) on 09/15/2025 tied to time-based restricted stock units (RSUs). Each DER equals the economic value of one share of Koppers common stock. The report shows 221.808 shares beneficially owned by the reporting person after the transaction. The filing states the DERs carry a $0 price and that RSU payments will be made per the Director Deferred Compensation Plan, either lump sum or in installments beginning the first May 31 after separation or a later date elected by the participant. The filing corrects prior reporting by including 25.518 DERs that were inadvertently omitted earlier.
Positive
- Correction of prior omission: filing adds 25.518 DERs that were previously not reported
- Transparency on deferred compensation: explains payment timing options under the Director Deferred Compensation Plan
- Clear disclosure of beneficial ownership: reports the reporting person holds 221.808 shares following the transaction
Negative
- Non-cash transaction: the DERs are reported at a $0 price, indicating no cash market activity to signal confidence
- Administrative lapse: 25.518 DERs were omitted previously, requiring correction
Insights
TL;DR Routine director compensation disclosure; small, non-cash accruals added and prior omission corrected.
The Form 4 documents a non-cash accrual of 28.254 dividend equivalent rights tied to deferred RSUs and reports total beneficial ownership of 221.808 shares for the reporting director. The transaction is compensation-related rather than an open-market purchase or sale, indicated by a price of $0 and the connection to the Director Deferred Compensation Plan. The inclusion of 25.518 previously unreported DERs is an administrative correction that clarifies prior ownership disclosures but is immaterial to capital structure and liquidity.
TL;DR Filing is governance-compliant, correcting a prior omission and clarifying deferred compensation terms.
The submission shows the issuer and reporting person following Rule 16 reporting by disclosing dividend equivalent rights credited to time-based RSUs and specifying payout mechanics under the Plan. The $0 price and deferred payment elections reinforce that this reflects grant/accrual accounting rather than a market transaction. The corrected inclusion of 25.518 DERs improves transparency; no indication of broader governance concerns is present within the text provided.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Rights | 28.254 | $0.00 | -- |
Footnotes (1)
- The dividend equivalent rights ("DERs") accrued with respect to additional time-based restricted stock units ("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.
