WESTLAKE CORP 8-K

What Happened
Westlake Corporation (WLK) announced that on April 15, 2026 its Compensation Committee appointed Jonathan H. Baksht (age 51) as Senior Vice President and Chief Financial Officer, effective June 15, 2026. Mr. Baksht will also be named a director of Westlake Chemical Partners GP LLC (a wholly‑owned subsidiary and general partner) on that date. He succeeds M. Steven Bender, who will transition on June 15, 2026 from Executive Vice President & CFO to Special Advisor to the President and is expected to retire by year‑end. Mr. Baksht’s background includes recent CFO roles at Fortune Brands Innovations (May 2025–Mar 2026), Pactiv Evergreen (May 2022–May 2025), and Valaris (CFO Nov 2015–Sep 2021).

Key Details

• Effective date: June 15, 2026 (appointment and subsidiary GP board seat).
• Sign‑on cash: $200,000, payable after 30 days of employment.
• RSU award: aggregate grant‑date fair value of $1,800,000; number of shares set by average high/low stock price on June 15, 2026; RSUs fully vest June 15, 2029 subject to continuous employment.
• 2026 pay & targets: base salary $832,000; 2026 target annual bonus 90% of base; long‑term incentive target 275% of base.
• Other: no family relationships with company directors/officers and no related‑party transactions requiring disclosure.

Why It Matters
This 8‑K signals a planned, orderly CFO succession with an experienced finance executive joining mid‑June and the incumbent remaining as an advisor through year‑end, which supports continuity in financial leadership. The compensation package emphasizes retention (multi‑year RSU vesting and sizable incentive targets), indicating the company’s intent to align the new CFO’s incentives with long‑term performance. Investors should note the leadership change and the associated compensation obligations as part of assessing Westlake’s governance and future financial strategy.