Westlake Corp (WLK) VP logs RSU vesting and tax-share withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Westlake Corp vice president and chief accounting officer Jeffrey Adam Holy reported routine equity award activity. On February 17, 706 restricted stock units granted in 2023 vested and converted into 706 shares of common stock on a one-for-one basis, increasing his direct holdings. On February 18, 213 of those shares, valued at $98.95 per share, were withheld to cover tax obligations arising from the RSU vesting, leaving him with 4,941 shares of common stock held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
706 shares exercised/converted
Mixed
3 txns
Insider
Holy Jeffrey Adam
Role
VP and CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 213 | $98.95 | $21K |
| Exercise | Restricted Stock Units | 706 | $0.00 | -- |
| Exercise | Common Stock | 706 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 4,941 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 706 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 Corp (WLK) report for Jeffrey Adam Holy?
Westlake Corp reported that VP and CAO Jeffrey Adam Holy had 706 restricted stock units vest and convert into common stock, followed by 213 shares withheld to satisfy taxes. After these routine equity award transactions, he directly holds 4,941 shares of Westlake common stock.
Were the Westlake (WLK) insider transactions open-market buys or sells?
The reported Westlake transactions were not open-market buys or sells. They reflect RSU vesting and conversion into 706 common shares, plus a tax-withholding disposition of 213 shares to cover tax obligations linked to that vesting, which is typical for equity compensation.
What do the vested RSUs mean in the Westlake (WLK) Form 4 filing?
The filing shows 706 restricted stock units granted on February 17, 2023 vested on their third anniversary and converted into 706 common shares. RSUs are stock-based awards that become actual shares at vesting, typically as part of long-term compensation for senior executives.