Bijlani Jeewat 4

What Happened

• Jeewat Bijlani, EVP, Global Specialty & CGO of Quaker Chemical (KWR), had performance and restricted stock awards settle on March 15, 2026. The filing shows a total of 5,060 shares acquired through grants/settlements and conversion/exercise of derivatives (PSUs/RSUs/DERs).
• To satisfy withholding tax obligations, 923 shares were surrendered (disposed) at an implied value of $118.45 per share, totaling $109,329. After the withholding, the reporting shows a net issuance of 4,137 shares to the insider.
• These actions are vesting/settlement and conversion transactions (award/acquisition and derivative conversion), not open-market purchases or discretionary sales; the surrender of shares for taxes is a routine, administrative transaction.

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (appears timely).
• Shares acquired (aggregate): 5,060 (combination of grants and conversions/exercises).
• Shares surrendered/disposed to cover taxes: 923 shares at $118.45 each = $109,329.
• Net shares issued to reporting person after withholding: 4,137 shares.
• Relevant footnotes: F1 (PSUs from 3/15/2023 vested upon performance certification), F2 (RSUs convert 1-for-1), F3 (dividend equivalent rights from 2024/2025 RSU grants settled), F4 (shares surrendered to satisfy withholding), plus grant schedule details F6–F8.
• Shares owned after the transaction are not specified in the provided extract.

Context

• These transactions reflect vesting/settlement of incentive awards (PSUs/RSUs/DERs). The surrender of shares to cover withholding tax is a routine plan-related disposition (transaction code F) rather than a market sale signaling sentiment.
• Several entries are conversions/exercises of derivatives (transaction code M) and awards (A); derivatives settled into stock and then some shares were used for tax withholding (cashless/withholding-type settlement).