Westlake Corp (WLK) EVP reports RSU vesting and tax-withholding share disposition
Rhea-AI Filing Summary
Westlake Corp executive reports RSU vesting and related share movements. EVP, Legal & External Affairs L. Benjamin Ederington exercised 3,809 restricted stock units, which converted into an equal number of Westlake common shares. These RSUs were originally granted in 2023 and vested on the third anniversary of the grant.
To cover tax obligations from the RSU vesting, 978 common shares otherwise issuable were withheld through a tax-withholding disposition, rather than an open-market sale. After these transactions, Ederington directly holds 79,090 shares of Westlake common stock.
Positive
- None.
Negative
- None.
Insights
Routine RSU vesting with tax withholding, no open‑market trading.
The filing shows L. Benjamin Ederington converting 3,809 restricted stock units into the same number of Westlake common shares. Footnotes confirm RSUs convert one-for-one and that this grant dates back to February 17, 2023, vesting after three years.
To satisfy tax obligations from vesting, 978 common shares otherwise issuable were withheld via a transaction coded "F," which is a tax-withholding disposition, not a discretionary market sale. This is standard mechanics for equity compensation and does not itself indicate a change in investment view.
Following these movements, Ederington directly holds 79,090 Westlake common shares. Future compensation-related vestings or grants, if any, would appear in subsequent ownership reports, but this set of transactions appears administrative and aligned with previously granted awards.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 978 | $98.95 | $97K |
| Exercise | Restricted Stock Units | 3,809 | $0.00 | -- |
| Exercise | Common Stock | 3,809 | $0.00 | -- |
Footnotes (1)
- Restricted stock units ("RSUs") convert into the Issuer's common stock on a one-for-one basis. On February 17, 2023, the reporting person was granted 3,809 RSUs vesting on the third anniversay of the grant date. Shares otherwise issuable were withheld to satisfy tax obligations arising out of the vesting of the reporting persons RSUs.