Quaker Chemical (KWR) director discloses stock sales, prepaid forward deals

Rhea-AI Filing Summary

Quaker Chemical Corp. director reports complex equity transactions. A Form 4 filing for Quaker Chemical Corp. (KWR) discloses that a director entered into equity-linked transactions on 11/25/2025. The director disposed of 45,000 shares of common stock in one transaction and 30,000 shares in a second transaction, both coded J/K, and continued to hold 3,635,112 shares directly afterward.

The filing also reports four variable prepaid forward sale contracts referencing Quaker Chemical common stock. These derivative positions each relate to 192,200, 128,133, 13,900, and 9,267 underlying shares, respectively, and are shown as directly owned derivative securities. Additional details and mechanics of these contracts are described in Exhibit 99.1, which contains the explanation of responses.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

QH Hungary Holdings Ltd

(Last) (First) (Middle)

BAH CENTER, 2 FURJ STREET

(Street)

BUDAPEST K5 1124

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
QUAKER CHEMICAL CORP [ KWR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/25/2025		J/K(1)(2)		45,000	D	(1)(2)	3,665,112	D
Common Stock	11/25/2025		J/K(2)(3)		30,000	D	(2)(3)	3,635,112	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Variable Prepaid Forward Sale Contract	(1)(2)	11/25/2025		J/K(1)(2)		192,200		(1)(2)	(1)(2)	Common Stock	192,200	(1)(2)	192,200	D
Variable Prepaid Forward Sale Contract	(2)(3)	11/25/2025		J/K(2)(3)		128,133		(2)(3)	(2)(3)	Common Stock	128,133	(2)(3)	128,133	D
Variable Prepaid Forward Sale Contract	(4)(6)	11/25/2025		J/K(4)(6)		13,900		(4)(6)	(4)(6)	Common Stock	13,900	(4)(6)	13,900	D
Variable Prepaid Forward Sale Contract	(5)(6)	11/25/2025		J/K(5)(6)		9,267		(5)(6)	(5)(6)	Common Stock	9,267	(5)(6)	9,267	D

Explanation of Responses:

1. See Note 1 and 1(a) in Exhibit 99.1.

2. See Note 2 in Exhibit 99.1.

3. See Note 1 and 1(b) in Exhibit 99.1.

4. See Note 1 and 1(c) in Exhibit 99.1.

5. See Note 1 and 1(d) in Exhibit 99.1.

6. See Note 3 in Exhibit 99.1.

Remarks:

Exhibit 99.1 - Explanation of Responses.

	/s/ Michael Kelleher, Managing Director of the Reporting Person	11/28/2025
	/s/ Judit Rozsa, Managing Director of the Reporting Person	11/28/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What did the Quaker Chemical (KWR) insider report in this Form 4?

The Form 4 shows that a director of Quaker Chemical Corp. reported equity transactions dated 11/25/2025, including sales of common stock and the establishment of variable prepaid forward sale contracts tied to Quaker Chemical shares.

How many Quaker Chemical (KWR) shares of common stock were sold?

The director reported two dispositions of common stock: one for 45,000 shares and another for 30,000 shares, both on 11/25/2025, reported with transaction code J/K.

How many Quaker Chemical (KWR) shares does the reporting person own after the transactions?

After the reported transactions, the director is shown as beneficially owning 3,635,112 shares of Quaker Chemical common stock in direct form.

What derivative securities were reported in the Quaker Chemical (KWR) Form 4?

The filing lists four variable prepaid forward sale contracts referencing Quaker Chemical common stock, each tied to 192,200, 128,133, 13,900, and 9,267 underlying shares, respectively.

What is the relationship of the reporting person to Quaker Chemical (KWR)?

The reporting person is identified as a director of Quaker Chemical Corp., with the director box checked and the filing marked as Form filed by One Reporting Person.

Where are the detailed terms of the variable prepaid forward sale contracts for KWR described?

The specific terms and explanatory details of the variable prepaid forward sale contracts are referenced in Exhibit 99.1 - Explanation of Responses, including Notes 1, 2, and 3 cited in the main form.