Frodl Andre 4

What Happened

• Andre Frodl, VP R&D – Metals & Metalworking at Quaker Chemical (KWR), reported multiple award settlements and derivative conversions dated March 15, 2026. The Form 4 shows a total of 680 shares acquired through a mix of grants/awards and exercise/conversion of derivative awards.
• The filing also shows 149 shares were surrendered to satisfy withholding tax obligations (payment code F) at an implied value of $118.45 per share, totaling $17,649. Several derivative conversions/exercises were reported at $0 cash proceeds (reported as derivative transactions).

Key Details

• Transaction date: March 15, 2026; Form 4 filed March 17, 2026.
• Reported acquisitions: 72 shares (grant/award) and multiple exercise/conversion entries totaling 608 shares (60, 60, 93, 20, 4 and a 371-share award/derivative entry) — combined reported acquired shares = 680.
• Reported disposals: 149 shares surrendered for tax withholding (F) for $17,649; additional derivative conversions/disposals totaling 237 shares were reported at $0 (M, derivative).
• Footnotes: PSUs vested based on adjusted ROIC (F1); RSUs convert 1-for-1 to common stock (F2); dividend equivalent rights (DERs) were settled for specified RSU grants (F3); shares were surrendered to satisfy tax withholding upon RSU/PSU vesting (F4). Grant vintages and vesting schedules are detailed in F5–F9.
• Shares owned after the transactions: not specified in the supplied summary of the filing.
• Filing timeliness: reported on Mar 17 for transactions on Mar 15 (no late-filing flag provided).

Context

• These transactions reflect vesting/settlement of equity awards (PSUs/RSUs) and conversions/exercises of derivative awards rather than open-market purchases or voluntary sell-offs. The surrender of shares to cover taxes is a routine withholding event following vesting.
• Transaction codes: A = Award/Grant, M = Exercise/Conversion of derivative, F = Payment of exercise price or tax liability.