Westlake (WLK) CFO nets shares after RSU vesting and tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Westlake Corp executive Mark Steven Bender reported equity compensation activity involving restricted stock units (RSUs) and common stock. On February 17, 4,751 RSUs converted into an equal number of Westlake common shares at a stated price of $0.0000 per share. Following this derivative exercise, his direct common stock holdings increased to 61,719 shares.
On February 18, 1,209 common shares were disposed of through a tax-withholding transaction at $98.95 per share to satisfy tax obligations arising from the RSU vesting, as described in the footnotes. After this withholding, Bender directly holds 60,510 shares of Westlake common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
4,751 shares exercised/converted
Mixed
3 txns
Insider
Bender Mark Steven
Role
EVP & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,209 | $98.95 | $120K |
| Exercise | Restricted Stock Units | 4,751 | $0.00 | -- |
| Exercise | Common Stock | 4,751 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 60,510 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 4,751 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) CFO Mark Steven Bender report?
Mark Steven Bender reported conversion of 4,751 restricted stock units into Westlake common stock and a related tax-withholding disposition of 1,209 shares. These transactions reflect equity compensation vesting and associated tax settlement, not an open-market share purchase or sale.
What is the Westlake (WLK) CFO’s direct common stock holding after these transactions?
After the RSU conversion and subsequent tax-withholding disposition, the CFO directly holds 60,510 shares of Westlake common stock. This reflects his equity position following the vesting of 4,751 restricted stock units granted on February 17, 2023.
How do Westlake (WLK) restricted stock units convert into common stock?
Westlake restricted stock units convert into common stock on a one-for-one basis upon vesting. In this case, 4,751 RSUs vested and converted into 4,751 common shares, consistent with the one-for-one conversion ratio described in the associated footnote to the transactions.
When were the vested RSUs in the Westlake (WLK) Form 4 originally granted?
The 4,751 restricted stock units were originally granted on February 17, 2023, and were scheduled to vest on the third anniversary of the grant date. Their vesting triggered the conversion into common shares and the related tax-withholding share disposition.