Sullivan James A. 4

What Happened
James A. Sullivan, President and CTO of Koppers Holdings Inc. (KOP), had performance share units (PSUs) vest on 2026-02-26, resulting in the issuance of 19,264 shares and related dividend-equivalent rights (DERs). He also converted DERs/derivative awards (466 shares) into common stock. To satisfy tax withholding on the vesting, Sullivan surrendered 8,589 shares at an implied value of $37.24 per share, producing proceeds of $319,854. The awards and conversions show $0 exercise price because they were equity awards that vested rather than purchases.

Key Details

• Transaction date: February 26, 2026; Form 4 filed March 2, 2026 (period of report: 2026-02-26).
• Main items: 19,264 shares issued on PSU vesting (grant/award A); 466 DERs converted/exercised (M/A entries); 8,589 shares surrendered for tax withholding (F) at $37.24 each = $319,854.
• Footnotes: PSUs were originally granted January 4, 2023; performance criteria for the 2023–2025 measurement period were satisfied (F1). DERs are dividend equivalents credited on a one-for-one basis and were released on vesting (F2, F4, F5). Shares were surrendered to the issuer to cover tax withholding (F3).
• Shares owned after the transactions are not specified in the provided filing excerpt.

Context

• This was primarily a vesting of long-term equity (PSUs and related DERs) and a routine tax-withholding surrender, not an open-market sale or purchase. Surrenders to cover taxes are common and do not necessarily signal insider sentiment.
• The zero per-share acquisition price reflects vested awards/derivative conversions, not a cash purchase.