West Pharma (WST) Form 4: Director Janet Haugen Receives Phantom Shares

Rhea-AI Filing Summary

West Pharmaceutical Services, Inc. (WST) – Form 4 insider filing

On 30 June 2025, director Janet Brutschea Haugen reported an equity-based compensation transaction:

• 58 Phantom Stock Units (deferred share equivalents) were acquired (Code A) at an indicated reference price of $218.80 per unit.
• Following the award, Haugen now holds 114.06 phantom units and 1,318.4 common shares, all in direct ownership.

Phantom units convert to common stock only after the director leaves the board, indicating a long-term alignment of interests rather than an immediate open-market purchase or sale. No common-stock transactions were reported, and the filing does not reference any Rule 10b5-1 trading plan.

Positive

• Director receives additional equity-linked compensation, modestly increasing alignment between board oversight and shareholder returns.

Negative

• None.

Insights

Equity Compensation Analyst

TL;DR: Routine director equity grant; signals alignment but immaterial to valuation.

This Form 4 discloses a standard non-cash award of 58 phantom stock units to Director Janet Haugen. Phantom units have no voting rights and settle only upon board departure, trimming liquidity concerns. The award increases Haugen’s synthetic stake to roughly 114 units—worth about $25k at the reference price—while her direct share ownership remains modest at 1,318 shares (<0.002% of diluted shares outstanding). Because the grant is part of the company’s normal board compensation and involves no market purchase or sale, there is minimal market impact. Still, continued equity accrual supports governance best practices by tying director pay to shareholder value.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HAUGEN JANET BRUTSCHEA

(Last) (First) (Middle)

530 HERMAN O. WEST DRIVE

(Street)

EXTON PA 19341

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WEST PHARMACEUTICAL SERVICES INC [ WST ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								1,318.4	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Unit	(1)	06/30/2025		A		58		(1)	(1)	Common Stock	58	$218.8	114.06	D

Explanation of Responses:

1. Awards of Phantom stock units are to be settled by delivery of shares of stock upon the reporting person's termination as a director.

	/s/ Louis Lalli, as an agent for Janet Haugen	07/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did WST Director Janet Haugen report in the latest Form 4?

Acquisition of 58 phantom stock units on 30 Jun 2025, bringing her total phantom units to 114.06.

Did the filing involve common-stock purchases or sales of WST?

No. The Form 4 shows no transactions in common shares; holdings remain 1,318.4 shares.

What is the price associated with the phantom stock unit award?

The reference price cited is approximately $218.80 per unit.

When will the phantom stock units convert to WST shares?

Per the filing, units are settled in shares upon the director’s termination from the board.

Does the Form 4 mention a Rule 10b5-1 trading plan?

No Rule 10b5-1 plan box was checked, indicating the transaction is not under such a plan.