Koppers (NYSE: KOP) legal chief awarded shares, uses stock for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Koppers Holdings Inc. chief legal and sustainability officer Stephanie L. Apostolou reported equity compensation activity tied to previously granted performance share units. She acquired 7,223 shares of common stock and related dividend equivalent rights, then surrendered 3,149 shares at $37.24 per share to cover tax withholding, leaving her with 63,150 directly held common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
174 shares exercised/converted
Mixed
5 txns
Insider
Apostolou Stephanie L
Role
Chief Legal&Sus Officer & Sec.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Rights | 174 | $0.00 | -- |
| Exercise | Dividend Equivalent Rights | 174 | $0.00 | -- |
| Grant/Award | Common Stock | 7,223 | $0.00 | -- |
| Exercise | Common Stock | 174 | $0.00 | -- |
| Tax Withholding | Common Stock | 3,149 | $37.24 | $117K |
Holdings After Transaction:
Dividend Equivalent Rights — 322 shares (Direct);
Common Stock — 66,125 shares (Direct)
Footnotes (1)
- On January 4, 2023, the reporting person was granted performance share units ("PSUs") for which the performance criteria for the measurement period from January 1, 2023 through December 31, 2025 have been satisfied. Represents shares acquired upon release of dividend equivalent rights ("DERs"), as reported in Table II, on a one-for-one basis. Shares surrendered to the issuer by the reporting person as payment for the tax withholding related to the vesting of PSUs. The DERs accrued with respect to additional PSUs credited to the reporting person with respect to PSUs granted on January 4, 2023. Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock. These DERs were released in connection with the vesting of PSUs granted on January 4, 2023. Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock.
FAQ
What insider transactions did Koppers (KOP) report for Stephanie L. Apostolou?
Stephanie L. Apostolou reported equity compensation activity, including grants of common stock and dividend equivalent rights plus exercises of those rights. She also surrendered shares to satisfy tax withholding tied to the vesting of performance share units granted on January 4, 2023.
What are dividend equivalent rights (DERs) in the Koppers (KOP) Form 4?
Dividend equivalent rights are awards economically equivalent to one share of Koppers common stock. In this filing, DERs accrued on performance share units granted January 4, 2023 and were released and converted into common shares upon vesting of those performance share units.