Quaker Chemical (NYSE: KWR) SVP gains stock awards via RSU vesting

Rhea-AI Filing Summary

Quaker Chemical SVP Ma Jun reported equity compensation activity involving restricted stock units and common shares. On March 15, 2026, Ma Jun exercised derivative awards covering 239 units tied to common stock, including performance stock units and dividend equivalent rights, converting them into common shares at a price of $0.00 per share.

The filing also shows a grant of 759 time-based restricted stock units and an award of 120 shares of common stock as compensation, all held directly. After these transactions, Ma Jun directly owns 3,295 shares of Quaker Chemical common stock. Footnotes describe multi-year vesting schedules and that RSUs and related dividend equivalents convert one-for-one into common stock.

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

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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^*

Ma Jun

(Last) (First) (Middle)

901 E. HECTOR STREET

(Street)

CONSHOHOCKEN PA 19428-2380

(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		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Reg Comm Lead-APAC

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

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	03/15/2026		A		120(1)	A	$0	3,056	D
Common Stock	03/15/2026		M		90	A	(2)	3,146	D
Common Stock	03/15/2026		M		145	A	(2)	3,291	D
Common Stock	03/15/2026		M		4	A	(3)	3,295	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
Restricted Stock Units	(2)	03/15/2026		M			90	(4)	(4)	Common Stock	90	$0	90	D
Restricted Stock Units	(2)	03/15/2026		M			145	(5)	(5)	Common Stock	145	$0	290	D
Dividend Equivalent Rights	(3)	03/15/2026		M			4	(3)	03/15/2026	Common Stock	4	(3)	0	D
Restricted Stock Units	(6)	03/15/2026		A		759		(6)	(6)	Common Stock	759	$0	759	D

Explanation of Responses:

1. Shares earned upon vesting and settlement of Performance Stock Units (PSUs) awarded on March 15, 2023, upon certification of performance results by the Compensation and Human Resources Committee based on achievement of the adjusted return on invested capital (ROIC) metric, during the three year performance period.

2. Restricted stock units (RSUs) convert into common stock on a one-for-one basis.

3. Dividend equivalent rights (DERs) accrued on reporting person's RSUs granted on March 15, 2024 and March 15, 2025. The rights accrued when and as dividends were paid on KWR common stock. This Form 4 reports the settlement of DERs in connection with the second installment of the 2024 RSU grant and the first installment of the 2025 RSU grant, each vesting on March 15, 2026. Each DER was the economic equivalent of one share of KWR common stock.

4. On March 15, 2024, the reporting person was granted 269 time-based RSUs, vesting in three annual installments beginning on March 15, 2025.

5. On March 15, 2025, the reporting person was granted 435 time-based RSUs, vesting in three annual installments beginning on March 15, 2026.

6. Time-based RSUs granted under the Company's Long-Term Performance Incentive Plan, which will vest in three annual installments beginning on March 15, 2027. Each RSU represents a contingent right to receive one share of KWR common stock and DERs accrue with respect to these RSUs when and as dividends are paid on KWR common stock.

Remarks:

	Victoria K. Gehris, Attorney-in-Fact for Jun Ma	03/17/2026
	** 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).
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FAQ

What insider transactions did Quaker Chemical (KWR) report for Ma Jun?

Quaker Chemical reported that SVP Ma Jun exercised 239 restricted stock and dividend equivalent units into common stock and received new equity awards. The activity reflects routine compensation-related vesting and grants rather than open-market buying or selling of KWR shares.

How many Quaker Chemical (KWR) shares does Ma Jun hold after these transactions?

After the reported transactions, Ma Jun directly holds 3,295 shares of Quaker Chemical common stock. This figure includes shares received from exercising restricted stock units and dividend equivalent rights, as well as 120 shares granted outright as part of compensation on March 15, 2026.

What types of equity awards were involved in Ma Jun’s Quaker Chemical (KWR) Form 4?

The Form 4 shows performance stock units, time-based restricted stock units, dividend equivalent rights, and common stock. RSUs and dividend equivalents each convert into one share of KWR common stock upon vesting and settlement, according to the company’s long-term performance incentive plan footnotes.

Were Ma Jun’s Quaker Chemical (KWR) transactions open-market stock purchases or sales?

The transactions were not open-market trades. They involved exercises of derivative awards and grants of restricted stock units and common shares at a stated price of zero. This indicates compensation-related vesting and awards rather than discretionary buying or selling in the market.

What do the dividend equivalent rights mean in the Quaker Chemical (KWR) filing?

Dividend equivalent rights accrued on Ma Jun’s restricted stock units when Quaker Chemical paid dividends. Each right was economically equivalent to one share of KWR common stock and was settled into common shares upon vesting of the related RSU installments on March 15, 2026.