Carvalho Renato 4
4 · QUAKER CHEMICAL CORP · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Quaker Chemical SVP Renato Carvalho Receives Awards, Exercises Options
What Happened
- Renato Carvalho, SVP and Regulatory Compliance Lead—Americas at Quaker Chemical (KWR), had multiple equity events on March 15, 2026. He received awards and converted/exercised derivative awards (RSUs/PSUs/DERs) into shares and related derivative settlements. As part of the vesting/settlement, Carvalho surrendered 126 shares to satisfy withholding taxes, valued at $14,925 (126 shares × $118.45).
- Reported transactions include grants/settlements (63 shares and 844 shares), several exercises/conversions of derivatives (totaling multiple small lots like 53, 207 and 4 shares), and disposals tied to the exercises and tax withholding. No open-market sale proceeds other than the tax withholding were reported.
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 17, 2026 (filed within the typical 2-business-day window).
- Tax withholding: 126 shares surrendered at $118.45/share for $14,925 to satisfy withholding obligations (transaction code F).
- Awards/settlements: Grants or settlements reported for 63 shares and 844 shares (transaction code A); several derivative exercises/conversions reported (transaction code M).
- DERs/PSUs/RSUs: Footnotes indicate PSUs vested based on ROIC performance, RSUs convert one-for-one to common shares, and dividend equivalent rights (DERs) were settled into shares for certain installments.
- Shares owned after the transactions: not specified in the provided filing details.
- Transaction codes: A = award/grant, M = exercise/conversion of derivative, F = shares surrendered for tax withholding.
Context
- These transactions appear to be routine equity compensation settlements (vesting of PSUs/RSUs and associated derivative conversions) with shares surrendered to cover withholding taxes—not an open-market sale signaling a change in investment stance.
- For derivative exercises: the filing reflects conversions/exercises of performance- and time-based awards and settlement of dividend equivalents; some derivative-conversion line items are reported as disposed (net settlement or surrender) rather than open-market sales.
Insider Transaction Report
Form 4
Carvalho Renato
SVP, Reg Comm Lead-Americas
Transactions
- Award
Common Stock
[F1]2026-03-15+63→ 717 total - Exercise/Conversion
Common Stock
[F2]2026-03-15+53→ 770 total - Exercise/Conversion
Common Stock
[F2]2026-03-15+207→ 977 total - Exercise/Conversion
Common Stock
[F3]2026-03-15+4→ 981 total - Tax Payment
Common Stock
[F4]2026-03-15$118.45/sh−126$14,925→ 855 total - Exercise/Conversion
Restricted Stock Units
[F2][F5]2026-03-15−53→ 53 total→ Common Stock (53 underlying) - Exercise/Conversion
Restricted Stock Units
[F2][F6]2026-03-15−207→ 415 total→ Common Stock (207 underlying) - Exercise/Conversion
Dividend Equivalent Rights
[F3]2026-03-15−4→ 0 totalExp: 2026-03-15→ Common Stock (4 underlying) - Award
Restricted Stock Units
[F7]2026-03-15+844→ 844 total→ Common Stock (844 underlying)
Footnotes (7)
- [F1]Shares earned upon vesting and settlement of Performance Stock Units (PSUs) awarded on March 15, 2023, upon certification of performance results by the Compensation and Human Resources Committee based on achievement of the adjusted return on invested capital (ROIC) metric, during the three year performance period.
- [F2]Restricted stock units (RSUs) convert into common stock on a one-for-one basis.
- [F3]Dividend equivalent rights (DERs) accrued on reporting person's RSUs granted on March 15, 2024 and March 15, 2025. The rights accrued when and as dividends were paid on KWR common stock. This Form 4 reports the settlement of DERs in connection with the second installment of the 2024 RSU grant and the first installment of the 2025 RSU grant, each vesting on March 15, 2026. Each DER was the economic equivalent of one share of KWR common stock.
- [F4]Shares surrendered by reporting person to satisfy withholding tax obligations upon partial vesting of certain RSUs and PSUs previously granted under the Company's Long-Term Performance Incentive Plan.
- [F5]On March 15, 2024, the reporting person was granted 158 time-based RSUs, vesting in three annual installments beginning on March 15, 2025.
- [F6]On March 15, 2025, the reporting person was granted 622 time-based RSUs, vesting in three annual installments beginning on March 15, 2026.
- [F7]Time-based RSUs granted under the Company's Long-Term Performance Incentive Plan, which will vest in three annual installments beginning on March 15, 2027. Each RSU represents a contingent right to receive one share of KWR common stock and DERs accrue with respect to these RSUs when and as dividends are paid on KWR common stock.
Signature
Victoria K. Gehris, Attorney-in-Fact for Renato Carvalho|2026-03-17