Lucas Stephen G 4
4 · Koppers Holdings Inc. · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Koppers (KOP) SVP Stephen G. Lucas Receives Award, Surrenders Shares
What Happened
Stephen G. Lucas, Senior Vice President, Culture and Engagement at Koppers Holdings Inc. (KOP), had performance share units (PSUs) vest on Feb 26, 2026. As a result he was issued 5,298 shares from the PSU vesting plus 127 shares released from dividend equivalent rights (DERs), for a total of 5,425 shares acquired at $0.00. To satisfy tax withholding obligations related to the vesting, Lucas surrendered 2,536 shares to the company at an assessed per-share value of $37.24, totaling $94,441. The filing also reports related derivative conversions/exercises tied to the PSU/DER release.
Key Details
- Transaction date(s): Feb 26, 2026; Form 4 filed Mar 2, 2026.
- Shares received: 5,298 shares (PSUs) + 127 shares (DERs) = 5,425 shares acquired at $0.00.
- Shares surrendered for tax withholding (code F): 2,536 shares at $37.24/share = $94,441 total.
- Derivative activity: 127 DER-related shares were reported as granted and converted/exercised (reported at $0.00), reflecting release of dividend equivalents.
- Shares owned after transaction: Not specified in this filing.
- Footnotes: PSUs were originally granted Jan 4, 2023 and vested after the 2023–2025 performance period; DERs are economic equivalents to shares and were released one-for-one.
- Filing timeliness: No late filing flag noted in the disclosed data.
Context
This was not an open-market purchase or sale — the acquisitions were the result of vested PSUs and released DERs (typical executive compensation vesting). The disposition was a share surrender to cover tax withholding, a routine administrative action that does not necessarily signal a change in the insider’s view of the company.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-26+5,298→ 38,062 total - Exercise/Conversion
Common Stock
[F2]2002-02-26+127→ 38,189 total - Tax Payment
Common Stock
[F3]2026-02-26$37.24/sh−2,536$94,441→ 35,653 total - Award
Dividend Equivalent Rights
[F4]2026-02-26+127→ 229 total→ Common Stock (127 underlying) - Exercise/Conversion
Dividend Equivalent Rights
[F5]2026-02-26−127→ 102 total→ Common Stock (127 underlying)
Footnotes (5)
- [F1]On January 4, 2023, the reporting person was granted performance share units ("PSUs") for which the performance criteria for the measurement period from January 1, 2023 through December 31, 2025 have been satisfied.
- [F2]Represents shares acquired upon release of dividend equivalent rights ("DERs"), as reported in Table II, on a one-for-one basis.
- [F3]Shares surrendered to the issuer by the reporting person as payment for the tax withholding related to the vesting of PSUs.
- [F4]The DERs accrued with respect to additional PSUs credited to the reporting person with respect to PSUs granted on January 4, 2023. Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock.
- [F5]These DERs were released in connection with the vesting of PSUs granted on January 4, 2023. Each DER is the economic equivalent of one share of Koppers Holdings Inc. common stock.