Jonathan Baksht to become CFO at Westlake (NYSE: WLK) in June 2026

Does Westlake (WLK) disclose any related-party transactions involving Jonathan H. Baksht?

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8-K Event Classification

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What executive leadership change did Westlake (WLK) announce in this 8-K?

What is Jonathan H. Baksht’s compensation package at Westlake (WLK)?

When do Jonathan H. Baksht’s restricted stock units at Westlake (WLK) vest?

What prior experience does Westlake (WLK) CFO Jonathan H. Baksht have?

Will M. Steven Bender remain involved with Westlake (WLK) after the CFO transition?

Press Releases

Westlake states that Jonathan H. Baksht has no family relationships with its directors or executive officers and no interests in transactions requiring disclosure under Item 404(a) of Regulation S-K. The company also notes there were no arrangements or understandings with others related to his appointment.

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(Moderate)

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(Neutral)

Form Type

8-K

Westlake Corporation appointed Jonathan H. Baksht as Senior Vice President and Chief Financial Officer, effective June 15, 2026, succeeding M. Steven Bender, who will become Special Advisor to the President and retire by year-end. Baksht brings prior CFO experience from Fortune Brands Innovations, Pactiv Evergreen and Valaris, along with earlier roles in investment banking and consulting.

His compensation package includes a $200,000 sign-on cash award, a restricted stock unit grant with a grant date fair value of $1,800,000 that vests fully on June 15, 2029, $832,000 base salary for 2026, a target annual bonus of 90% of base pay and a long-term incentive target of 275% of base pay. He will also serve as CFO and a director of Westlake Chemical Partners GP LLC. The company notes there are no family relationships or related-party transactions requiring disclosure in connection with his appointment.

3 items: 5.02, 7.01, 9.01

3 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Sign-on cash award: $200,000 RSU grant value: $1,800,000 Base salary 2026: $832,000 +5 more

8 metrics

Sign-on cash award $200,000 Approved by Compensation Committee on April 15, 2026

RSU grant value $1,800,000 Aggregate grant date fair value of RSUs for new CFO

Base salary 2026 $832,000 Annual base pay for Jonathan H. Baksht in 2026

Target annual bonus 90% of base pay 2026 target under Annual Incentive Plan

Long-term incentive target 275% of base pay Target bonus level for long-term incentives

RSU vesting date June 15, 2029 Full vesting date if continuous employment is maintained

Effective date as CFO June 15, 2026 Start date for Baksht as Senior Vice President and CFO

Age of new CFO 51 years Age of Jonathan H. Baksht at time of appointment

restricted stock units, Annual Incentive Plan, long-term incentive target bonus, Special Advisor to the President, +1 more

5 terms

restricted stock units financial

"an award of restricted stock units (“RSUs”) to Mr. Baksht under the Company’s amended and restated 2013 Omnibus Incentive Plan"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Annual Incentive Plan financial

"with a 2026 target bonus of 90% under the Company’s Annual Incentive Plan"

long-term incentive target bonus financial

"and a long-term incentive target bonus of 275% (each as a percentage of base pay)"

Special Advisor to the President financial

"will transition from his position as Executive Vice President and Chief Financial Officer of the Company to the position of Special Advisor to the President"

Omnibus Incentive Plan financial

"under the Company’s amended and restated 2013 Omnibus Incentive Plan, with a total aggregate grant date fair value"

An omnibus incentive plan is a single, flexible program a company uses to give employees and executives different types of pay tied to performance — for example stock options, restricted shares, cash bonuses and other awards — all governed by one set of rules. It matters to investors because it determines how many new shares may be created, how leaders are motivated and how much the company will spend on compensation over time; think of it as a master toolbox that affects both costs and the total share supply.

Understanding 8-K Material Events →

04/20/2026 - 05:05 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): April 15, 2026

Westlake Corporation

(Exact name of registrant as specified in its charter)

Delaware

001-32260

76-0346924

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

2801 Post Oak Boulevard, Suite 600

Houston, Texas

77056

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (713) 960-9111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	WLK	The New York Stock Exchange
1.625% Senior Notes due 2029	WLK29	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 15, 2026, the Compensation Committee of the Board of Directors (the “Compensation Committee”) of Westlake Corporation (the “Company”) appointed Jonathan H. Baksht, age 51, as Senior Vice President and Chief Financial Officer of the Company, effective June 15, 2026. Mr. Baksht will succeed Mr. M. Steven Bender, who, as previously disclosed, will retire by the end of the year and, effective June 15, 2026, will transition from his position as Executive Vice President and Chief Financial Officer of the Company to the position of Special Advisor to the President of the Company.

In connection with his appointment as Senior Vice President and Chief Financial Officer of the Company, Mr. Baksht will also be appointed as Senior Vice President and Chief Financial Officer and as a director of Westlake Chemical Partners GP LLC, a wholly-owned subsidiary of the Company and the general partner of Westlake Chemical Partners LP, effective June 15, 2026.

Prior to joining the Company, Mr. Baksht served as Executive Vice President and Chief Financial Officer of Fortune Brands Innovations, Inc. from May 2025 to March 2026. From May 2022 to May 2025, Mr. Baksht served as Chief Financial Officer of Pactiv Evergreen Inc. and from August 2013 to September 2021, Mr. Baksht held various positions at Valaris Limited, including most recently as Chief Financial Officer from November 2015 until September 2021. Earlier in his career, he worked in investment banking at Goldman, Sachs & Co. and in management consulting at Andersen Consulting. He has served on the Board of Directors of Duxion Motors Inc. since January 2022 and previously served on the Board of Directors of ARO Drilling, a joint venture between Valaris and Saudi Aramco, from April 2019 to September 2021. Mr. Baksht received a bachelor’s of science degree in electrical engineering from the University of Texas at Austin and an M.B.A from the Kellogg Graduate School of Management at Northwestern University.

In connection with his appointment, on April 15, 2026, the Compensation Committee approved a sign-on cash award of $200,000, payable after 30 days of employment, and an award of restricted stock units (“RSUs”) to Mr. Baksht under the Company’s amended and restated 2013 Omnibus Incentive Plan, with a total aggregate grant date fair value of $1,800,000. The number of shares of common stock of the Company underlying the RSUs will be determined by dividing the aggregate grant date fair value by the average of the high and low prices of the Company’s common stock on June 15, 2026. The RSUs fully vest on June 15, 2029, provided that Mr. Baksht remains in continuous full-time employment with the Company through June 15, 2029.

Mr. Baksht will have a base pay of $832,000 for 2026 and will be eligible to participate in the Company’s compensation and benefits plans and programs for similarly situated executives, with a 2026 target bonus of 90% under the Company’s Annual Incentive Plan and a long-term incentive target bonus of 275% (each as a percentage of base pay).

There are no family relationships between Mr. Baksht and any director or executive officer of the Company. Mr. Baksht does not have any interest in any transactions with the Company requiring disclosure under Item 404(a) of Regulation S-K, and there are no arrangements or understandings between Mr. Baksht and any other person pursuant to which he was appointed as an officer of the Company.

Item 7.01.

Regulation FD Disclosure.

On April 20, 2026, the Company issued a press release announcing the appointment of Mr. Baksht as Senior Vice President and Chief Financial Officer of the Company. A copy of the press release is furnished with this Current Report as Exhibit 99.1.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits


Exhibit No.		Description

99.1		Press release issued April 20, 2026

104		The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Exhibit 99.1

Westlake Corporation Appoints Jonathan H. Baksht as Senior Vice President and Chief Financial Officer

HOUSTON, April 20, 2026- Westlake Corporation (NYSE:WLK)(the “Company” or “Westlake”) announced today that Mr. Jonathan H. Baksht will be joining the Company as Senior Vice President and Chief Financial Officer, reporting to Mr. Jean-Marc Gilson, Westlake’s President and Chief Executive Officer. Mr. Baksht succeeds Mr. M. Steven Bender, who, as previously disclosed, will retire by the end of the year and, effective June 15, 2026, will transition from his position as Executive Vice President and Chief Financial Officer of the Company to the position of Special Advisor to the President of the Company.

Mr. Baksht most recently served as Executive Vice President and Chief Financial Officer of Fortune Brands Innovations, Inc. from May 2025 to March 2026. From May 2022 to May 2025, Mr. Baksht served as Chief Financial Officer of Pactiv Evergreen Inc. (now Novolex) and from August 2013 to September 2021, Mr. Baksht held various positions at Valaris Limited, including most recently as Chief Financial Officer from November 2015 until September 2021. Earlier in his career, he worked in investment banking at Goldman, Sachs & Co., and in management consulting at Andersen Consulting. He has served on the Board of Directors of Duxion Motors Inc. since January 2022 and previously served on the Board of Directors of ARO Drilling, a joint venture between Valaris and Saudi Aramco, from April 2019 to September 2021.

Mr. Baksht received a Bachelor of Science degree in electrical engineering from the University of Texas at Austin and a Master of Business Administration degree from the Kellogg Graduate School of Management at Northwestern University.

“We are pleased to have an executive with Jon’s depth of experience from the oil and gas, packaging and building products industries join our management team,” said Mr. Gilson. “We are confident he will make an important contribution to the ongoing growth and development of Westlake. Although he will still be with us for several more months, we thank Steve for all his contributions to the success of the Company over the past 21 years.”

About Westlake

Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer. For more information, visit the Company’s web site at www.westlake.com.

###

Contacts

Media Inquiries:

Ben Ederington, 713-960-9111

Investor Inquiries:

Steve Bender, 713-960-9111

Source: View Original Filing on SEC EDGAR

Westlake announced that Jonathan H. Baksht will become Senior Vice President and Chief Financial Officer on June 15, 2026. He succeeds M. Steven Bender, who will transition to Special Advisor to the President and retire from the company by the end of the year.

Jonathan H. Baksht will receive a $200,000 sign-on cash award, $1,800,000 in restricted stock units vesting in 2029, and 2026 base pay of $832,000. He also has a 90% target annual bonus and a 275% long-term incentive target, both calculated as percentages of base salary.

The restricted stock units granted to Jonathan H. Baksht fully vest on June 15, 2029, if he remains in continuous full-time employment with Westlake through that date. The number of RSUs will be based on the average of the high and low stock prices on June 15, 2026.

Jonathan H. Baksht previously served as CFO of Fortune Brands Innovations and Pactiv Evergreen, and held senior roles, including CFO, at Valaris Limited. Earlier, he worked in investment banking at Goldman Sachs and management consulting at Andersen Consulting, and has served on multiple company boards.

Yes. Effective June 15, 2026, M. Steven Bender will move from Executive Vice President and CFO to Special Advisor to the President. He is expected to remain in this advisory role for several months before retiring from Westlake by the end of the year.

5 documents

WESTLAKE CORPORATION

Date: April 20, 2026

/s/ L. Benjamin Ederington

L. Benjamin Ederington

Executive Vice President, Legal and External Affairs

EX-99.1 EX-99.1 4.7 KB