Westlake chair exercises 16,555 RSUs into stock
WESTLAKE CORP Executive Chairman Albert Chao reported RSU vesting and related share withholding.
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Rhea-AI Filing Summary
WESTLAKE CORP Executive Chairman Albert Chao reported RSU vesting and related share withholding. On February 17, he exercised 16,555 restricted stock units, which convert into common stock on a one-for-one basis, resulting in 16,555 common shares acquired at a stated price of $0.00 per share.
On February 18, 5,089 common shares were disposed of at $98.95 per share to satisfy tax obligations arising from the RSU vesting, rather than through an open-market sale. After these transactions, he directly owned 639,188 shares of Westlake common stock.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Common Stock | 5,089 | $98.95 | $504K |
| Exercise | Restricted Stock Units | 16,555 | $0.00 | $0.00 |
| Exercise | Common Stock | 16,555 | $0.00 | $0.00 |
Footnotes (3)
- F1. Restricted stock units ("RSUs") convert into the Issuer's common stock on a one-for-one basis.
- F2. On February 17, 2023, the reporting person was granted 16,555 RSUs vesting on the third anniversay of the grant date.
- F3. Shares otherwise issuable were withheld to satisfy tax obligations arising out of the vesting of the reporting persons RSUs.
FAQ
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What insider transactions did Westlake (WLK) Executive Chairman Albert Chao report?
What were the original terms of Albert Chao’s Westlake (WLK) RSU grant?
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