Szwejbka Scott Thomas 4
4 · WESTLAKE CORP · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Westlake (WLK) SVP Scott Szwejbka Receives Awards, Withholds Shares
What Happened
Scott Szwejbka, Senior Vice President and HIP Segment Head at Westlake Corp (WLK), had 365 performance stock units (PSUs) vest on Feb 19, 2026. To satisfy withholding tax obligations, 91 of those vested shares were withheld (disposed) for a tax value of $8,563 (91 shares × $94.10). On Feb 20, 2026 he was also granted additional derivative awards: 14,595 units (derivative awards/options) and 3,983 restricted stock units (RSUs). The grants show $0 per-share acquisition price because they are awards, not open-market purchases.
Key Details
- Transaction dates: PSUs vested 2026-02-19; tax withholding and additional grants recorded 2026-02-20. Form filed 2026-02-23.
- Withheld shares: 91 shares withheld to cover taxes — proceeds/value reported as $8,563.
- Awards: 365 vested PSUs (acquired at $0); 14,595 derivative award units (stock option-style) and 3,983 RSUs (both reported at $0).
- Vesting/exercise schedules and notes: the 365 shares vested based on performance criteria from a 2/17/2023 PSU grant; withheld shares covered withholding taxes; the stock options (derivative award) are exercisable in three installments (33%, 33%, 34% on 2/20/2027, 2/20/2028, 2/20/2029); the RSUs each convert to one share and will vest on 2/20/2029.
- Shares owned after transaction: not disclosed in the filing.
- Filing timeliness: Form 4 filed 2026-02-23 for transactions on Feb 19–20, 2026 — appears timely.
Context
This filing mainly reflects routine equity compensation activity: PSUs vested and some vested shares were withheld to cover taxes (a common, administrative disposition). The additional items are grants of derivative awards (options with multi-year exercise schedule) and RSUs that vest in 2029 — these are forward-looking compensation awards, not open-market purchases or sales.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-19+365→ 13,864 total - Tax Payment
Common Stock
[F2]2026-02-20$94.10/sh−91$8,563→ 13,773 total - Award
Employee Option (right to buy)
[F3]2026-02-20+14,595→ 14,595 totalExercise: $94.48Exp: 2036-02-20→ Common Stock (14,595 underlying) - Award
Restricted Stock Units
[F4][F5]2026-02-20+3,983→ 3,983 total→ Common Stock (3,983 underlying)
Footnotes (5)
- [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]The stock options are excercisable in three installments of 33%, 33% and 34% on February 20, 2027, 2028 and 2029, respectively.
- [F4]Each restricted stock unit ("RSU") represents a contingent right to recieve one share of the Issuer's common stock.
- [F5]All of the RSUs will vest on February 20, 2029.