KOP Form 4: Director Deferred-Comp Accruals and Correction of 30.109 DERs
Rhea-AI Filing Summary
Reporting person: Director Feng Xudong reported transactions in Koppers Holdings Inc. (KOP) on Form 4. The filing shows 33.338 dividend equivalent rights (DERs) credited in connection with deferred compensation tied to restricted stock units (RSUs), which are economically equivalent to Koppers common shares. After the reported transaction the filing lists 264.474 shares beneficially owned by the reporting person.
Payment and timing: The DERs accrue with respect to additional RSUs and, once released, will be payable under the Director Deferred Compensation Plan either as a lump sum or in annual installments beginning the May 31 following separation from service or a later elected year. The filing also corrects prior reporting by including 30.109 DERs that were inadvertently not previously reported.
Positive
- Correction included for 30.109 DERs that were inadvertently omitted previously, improving disclosure accuracy
- Clarity provided on payment timing and election options under the Director Deferred Compensation Plan
Negative
- Prior reporting omission of 30.109 DERs indicates an administrative reporting error
Insights
TL;DR: Routine director deferred-compensation accruals and a corrective disclosure of previously unreported DERs; governance processes likely adjusted.
The Form 4 documents non-cash accruals under the company's Director Deferred Compensation Plan rather than open-market purchases or sales. The disclosure of 33.338 DERs reflects additional compensation-crediting events tied to RSUs and clarifies the director's deferred payout elections. The inclusion of 30.109 previously unreported DERs is a corrective note that suggests an administrative reporting gap was addressed; the filing does not indicate any change in control, market trading, or material shift in beneficial ownership percentages.
TL;DR: Impact is neutral for investors; transaction is compensation-related and not a market disposition.
The reported items are dividend equivalent rights that are the economic equivalent of common shares and will convert to payables under deferral elections. Because the entry records accruals rather than open-market transactions, there is no immediate dilution or sale pressure reflected. The adjustment adding 30.109 DERs corrects prior reporting but is immaterial to overall outstanding shares based on information in this filing alone.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalent Rights | 33.338 | $0.00 | -- |
Footnotes (1)
- The dividend equivalent rights ("DERs") accrued with respect to additional 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 30.109 DERs that inadvertently were not previously reported.
