Quaker Chemical (KWR) director and 10% owner reports stock sales, forward deals

Rhea-AI Filing Summary

Quaker Chemical Corp (KWR) disclosed insider transactions by a reporting person serving as a director and 10% owner. The form shows that on 11/25/2025, the reporting person, through QH Hungary Holdings Limited, disposed of 45,000 shares of common stock in one transaction and 30,000 shares in another. After these sales, the reporting person indirectly beneficially owned 3,665,112 and then 3,635,112 shares of common stock through QH Hungary Holdings Limited.

The reporting person also entered into several variable prepaid forward sale contracts referencing Quaker Chemical common stock on the same date. These derivative positions cover 192,200, 128,133, 13,900, and 9,267 shares of common stock, respectively, all held indirectly through QH Hungary Holdings Limited. Further details and key terms are referenced in Exhibit 99.1, which provides the notes and explanations for the coded transactions.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Gulf Hungary Holding Korlatolt Felelossegu Tarsasag

(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	I(7)	By QH Hungary Holdings Limited
Common Stock	11/25/2025		J/K(2)(3)		30,000	D	(2)(3)	3,635,112	I(7)	By QH Hungary Holdings Limited

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	I	By QH Hungary Holdings Limited
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	I	By QH Hungary Holdings Limited
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	I	By QH Hungary Holdings Limited
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	I	By QH Hungary Holdings Limited

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.

7. See Note 4 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).
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FAQ

What insider transaction did Quaker Chemical (KWR) report on November 25, 2025?

On 11/25/2025, a reporting person associated with Quaker Chemical (KWR) disposed of 45,000 and 30,000 shares of common stock in separate transactions through QH Hungary Holdings Limited.

How is the reporting person related to Quaker Chemical Corp (KWR)?

The reporting person is listed as a director and a 10% owner of Quaker Chemical Corp (KWR), filing the report as one reporting person.

What is QH Hungary Holdings Limited in relation to the Quaker Chemical (KWR) insider transactions?

The transactions are reported as indirect ownership through QH Hungary Holdings Limited, which holds the Quaker Chemical common stock and derivative contracts for the reporting person.

How many Quaker Chemical (KWR) shares did the insider beneficially own after the reported stock sales?

Following the reported sales on 11/25/2025, the reporting person indirectly beneficially owned 3,665,112 shares of Quaker Chemical common stock, and after the second transaction, 3,635,112 shares, all through QH Hungary Holdings Limited.

What derivative instruments tied to Quaker Chemical (KWR) stock were reported?

The report lists multiple variable prepaid forward sale contracts referencing Quaker Chemical common stock, with underlying amounts of 192,200, 128,133, 13,900, and 9,267 shares, all held indirectly via QH Hungary Holdings Limited.

Where can investors find the detailed terms of the Quaker Chemical (KWR) insider’s forward sale contracts?

The detailed explanations and terms for the coded transactions and forward sale contracts are referenced in Exhibit 99.1 - Explanation of Responses attached to the report.