Bender Mark Steven 4
4 · WESTLAKE CORP · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Westlake (WLK) EVP/CFO Mark Bender Receives Awards, Sells 445 Shares
What Happened Mark Steven Bender, EVP and CFO of Westlake Corp (WLK), had 1,777 performance shares (PSUs) vest on Feb 19, 2026. To cover tax obligations, 445 of those shares were withheld and sold on Feb 20, 2026 for proceeds of about $41,874 (weighted average price reported at $94.10). On Feb 20, 2026 the filing also reports additional awards: 28,389 derivative shares (stock option awards) and 7,747 restricted stock units (RSUs) granted at $0.00.
Key Details
- Transaction dates: PSUs vested Feb 19, 2026; withholding sale and awards recorded Feb 20, 2026; Form 4 filed Feb 23, 2026 (filed within the typical 2-business-day deadline).
- Sale proceeds: 445 shares sold for approximately $41,874 (weighted avg $94.10; individual sale prices ranged $93.98–$94.10).
- Shares acquired/vested: 1,777 PSUs vested (Feb 19, 2026); 28,389 option-type awards and 7,747 RSUs granted (Feb 20, 2026).
- Shares owned after transaction: Not specified in the filing.
- Notable footnotes:
- F1: The 1,777 shares were PSUs granted Feb 17, 2023 that vested on Feb 19, 2026 after performance criteria were met.
- F2: 445 shares were withheld/sold to satisfy tax withholding.
- F3: Sale prices ranged $93.98–$94.10; weighted average $94.10.
- F4: The stock options referenced are exercisable in three installments on Feb 20, 2027, 2028 and 2029.
- F5/F6: Each RSU converts to one share; all RSUs will vest on Feb 20, 2029.
Context This activity reflects routine compensation events: vesting of performance stock units, tax-withholding via share disposition (common practice), and the receipt of new long-term incentive awards (options and RSUs) with multi-year vesting/exercise schedules. The withholding sale is not an open-market purchase (not a bullish buy signal); the new awards are standard compensation and will only convert to or be exercisable for stock according to the stated schedules.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-19+1,777→ 62,287 total - Tax Payment
Common Stock
[F2][F3]2026-02-20$94.10/sh−445$41,874→ 61,842 total - Award
Employee Option (right to buy)
[F4]2026-02-20+28,389→ 28,389 totalExercise: $94.48Exp: 2036-02-20→ Common Stock (28,389 underlying) - Award
Restricted Stock Units
[F5][F6]2026-02-20+7,747→ 7,747 total→ Common Stock (7,747 underlying)
Footnotes (6)
- [F1]Represents shares of common stock that vested on February 19, 2026, upon the determination by the Compensation Committee of the Issuer's Board of Directors of the satisfaction of performance criteria underlying an award of performance stock units ("PSUs") granted to the Reporting Person on February 17, 2023, under the terms of the Issuer's 2013 Omnibus Incentive Plan.
- [F2]Shares otherwise issuable were witheld to satisfy tax obligations arising out of vesting of the Reporting Person's PSUs.
- [F3]Weighted average price. These shares were sold in multiple transactions at prices ranging from $93.98 to $94.10, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- [F4]The stock options are excercisable in three installments of 33%, 33% and 34% on February 20, 2027, 2028 and 2029, respectively.
- [F5]Each restricted stock unit ("RSU") represents a contingent right to recieve one share of the Issuer's common stock.
- [F6]All of the RSUs will vest on February 20, 2029.