Westlake Corp (WLK) chair withholds 5,089 shares to cover RSU taxes
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
16,555 shares exercised/converted
Mixed
3 txns
Insider
Chao Albert
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 5,089 | $98.95 | $504K |
| Exercise | Restricted Stock Units | 16,555 | $0.00 | -- |
| Exercise | Common Stock | 16,555 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 639,188 shares (Direct);
Restricted Stock Units — 0 shares (Direct)
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 16,555 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.
FAQ
What insider transactions did Westlake (WLK) Executive Chairman Albert Chao report?
Albert Chao reported vesting of 16,555 restricted stock units that converted into an equal number of Westlake common shares, followed by a disposition of 5,089 common shares used to satisfy tax obligations arising from the RSU vesting, leaving him with 639,188 directly held shares.
What were the original terms of Albert Chao’s Westlake (WLK) RSU grant?
Albert Chao was granted 16,555 restricted stock units on February 17, 2023, with the award vesting on the third anniversary of the grant date. Upon vesting, each RSU converted into one share of Westlake common stock, as disclosed in the Form 4 footnotes.