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Westlake appoints Tommy Darby chief accounting officer

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Westlake Corporation (WLK) appointed Tommy E. Darby, age 45, as Vice President, Chief Accounting Officer, effective August 31, 2026. He was also appointed Vice President, Chief Accounting Officer of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP, effective the same date. Darby previously held senior accounting and finance roles at Pactiv Evergreen Inc. (now Novolex), Valaris plc (now Valaris Limited), and worked in audit and assurance at Deloitte LLP. He holds bachelor’s and master’s degrees in accounting from the University of North Texas and is a Certified Public Accountant. Darby replaces Jeffrey A. Holy, who will move to Vice President, Finance and Investor Relations. The company states there are no family relationships, related-party transactions, or appointment arrangements requiring additional disclosure.

Positive

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Negative

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Filing Explained

The filing adds a $440,000 salary and $135,000 RSU award; the award’s share count and ownership effect remain undetermined.

The filing discloses that Tommy E. Darby’s officer package includes a $440,000 annual salary, target bonuses, and a $135,000 sign-on restricted stock unit award.

As a Form 8-K, it reports these material compensation terms; the equity award is described as an award whose underlying share count is still to be determined, rather than as completed common-stock issuance.

The share count will be determined by dividing the award’s grant-date fair value by the average of Westlake’s high and low stock prices on August 31, 2026. The RSUs fully vest on August 31, 2029 only if Mr. Darby remains continuously employed full time through that date.

If shares are ultimately issued under the RSUs, the additional shares would increase the total share count and reduce existing holders’ percentage ownership absent offsetting changes. The filing does not provide the resulting share count, so the ownership effect cannot be sized from this disclosure.

The package also includes a target annual bonus of 45% of base salary, a target quarterly bonus of 8% of eligible quarterly salary, and a long-term incentive target of 90% of base salary.

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.
Annual salary $440,000 Base salary for Tommy E. Darby as Vice President, Chief Accounting Officer
Annual Incentive Plan target bonus 45% of base salary Target bonus percentage under the Company’s Annual Incentive Plan
Quarterly Incentive Plan target bonus 8% of eligible quarterly salary Target bonus percentage under the Company’s Quarterly Incentive Plan
Long-term incentive target bonus 90% of base salary Long-term incentive target bonus under the amended and restated 2013 Omnibus Incentive Plan
Sign-on RSU award grant date fair value $135,000 Aggregate grant date fair value of RSUs granted to Tommy E. Darby
RSU vesting date August 31, 2029 Date on which the RSUs fully vest, subject to continuous full-time employment
Effective appointment date August 31, 2026 Effective date of Tommy E. Darby’s appointments at Westlake Corporation and Westlake Chemical Partners GP LLC
Age of appointee 45 Age of Tommy E. Darby at the time of appointment
restricted stock units financial
"sign-on award of restricted stock units (“RSUs”) under the Company’s amended"
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.
amended and restated 2013 Omnibus Incentive Plan financial
"under the Company’s amended and restated 2013 Omnibus Incentive Plan"
Annual Incentive Plan financial
"target bonus of 45% of his base salary under the Company’s Annual Incentive Plan"
Quarterly Incentive Plan financial
"target bonus of 8% of eligible quarterly salary under the Company’s Quarterly Incentive Plan"
Item 404(a) of Regulation S-K regulatory
"transactions with the Company requiring disclosure under Item 404(a) of Regulation S-K"

FAQ

What executive leadership change did WLK announce on August 31, 2026?
Westlake Corporation announced the appointment of Tommy E. Darby as Vice President, Chief Accounting Officer, effective August 31, 2026, and his concurrent appointment to the same role at Westlake Chemical Partners GP LLC. Jeffrey A. Holy will transition to Vice President, Finance and Investor Relations.

What is the compensation package for Westlake (WLK) executive Tommy Darby?
Tommy Darby will receive an annual salary of $440,000, a target bonus of 45% of base salary under the Annual Incentive Plan, a target bonus of 8% of eligible quarterly salary under the Quarterly Incentive Plan, and a long-term incentive target bonus of 90% of base salary.

What sign-on equity award will Tommy Darby receive from WLK?
Tommy Darby will receive a sign-on award of restricted stock units (RSUs) with an aggregate grant date fair value of $135,000 under Westlake’s amended and restated 2013 Omnibus Incentive Plan, with the number of RSUs based on the average of the high and low stock prices on August 31, 2026.

When do Tommy Darby’s RSUs from Westlake (WLK) vest?
The RSUs granted to Tommy Darby fully vest on August 31, 2029, provided he remains in continuous full-time employment with Westlake Corporation through that date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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): August 31, 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.)

 

5444 Westheimer, Suite 101

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

NYSE Texas

1.625% Senior Notes due 2029   WLK 29   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 August 31, 2026, Westlake Corporation (the “Company”) announced the appointment of Tommy E. Darby, age 45, to the position of Vice President, Chief Accounting Officer of the Company, effective immediately.

In connection with his appointment as Vice President, Chief Accounting Officer of the Company, Mr. Darby was also appointed as Vice President, Chief Accounting Officer of Westlake Chemical Partners GP LLC, a wholly-owned subsidiary of the Company and the general partner of Westlake Chemical Partners LP, effective August 31, 2026.

Prior to joining the Company, from August 2022 to April 2025, Mr. Darby served as Vice President and Chief Accounting Officer of Pactiv Evergreen Inc. (now Novolex) and, earlier in his tenure there, as Vice President and Controller. From March 2008 to May 2020, Mr. Darby held various leadership roles at Valaris plc (now Valaris Limited) and its predecessor companies in external reporting, financial systems and internal audit, before serving as Vice President and Controller and later as Vice President, Finance. Earlier in his career, Mr. Darby worked in audit and assurance at Deloitte LLP. Mr. Darby received a Bachelor of Science degree in Accounting and a Master of Science degree in Auditing and Financial Accounting from the University of North Texas and is a Certified Public Accountant.

There are no family relationships between Mr. Darby and any director or executive officer of the Company. Mr. Darby 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. Darby and any other person pursuant to which he was appointed as an officer of the Company.

In connection with his appointment, Mr. Darby will receive an annual salary of $440,000, a target bonus of 45% of his base salary under the Company’s Annual Incentive Plan (prorated based on Mr. Darby’s start date), a target bonus of 8% of eligible quarterly salary under the Company’s Quarterly Incentive Plan, and a long-term incentive target bonus of 90% of his base salary under the Company’s amended and restated 2013 Omnibus Incentive Plan. Mr. Darby will also receive a sign-on award of restricted stock units (“RSUs”) under the Company’s amended and restated 2013 Omnibus Incentive Plan, with a total aggregate grant date fair value of $135,000. 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 August 31, 2026. The RSUs fully vest on August 31, 2029, provided that Mr. Darby remains in continuous full-time employment with the Company through August 31, 2029.

Mr. Darby will succeed Jeffrey A. Holy, who will transition from his current position of Vice President, Chief Accounting Officer of the Company to the position of Vice President, Finance and Investor Relations of the Company, effective concurrent with the appointment of Mr. Darby.

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.

 

      WESTLAKE CORPORATION
Date: August 31, 2026     By:  

/s/ L. Benjamin Ederington

     

L. Benjamin Ederington

Executive Vice President, Legal and External Affairs

Source: View Original Filing on SEC EDGAR

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