SEC Form 4 · accession 0001140361-16-053914
WESTLAKE CORP · WLK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James Chao
Officer — Chairman · Director · 10% Owner
Period of report
Feb 15, 2016
Accepted (ET)
Feb 18, 2016 · 4:04 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001262823
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 15, 2016 | M | 11,406 | — | A | 111,532 | D | |
| Common StockF3 | holding | — | — | — | 40,000 | I | By Estate of Mother | |
| Common StockF3 | holding | — | — | — | 264,702 | I | By Brother Albert Chao | |
| Common StockF4 | holding | — | — | — | 92,010,554 | I | TTWF LP & TTWFGP LLC |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Feb 15, 2016 | M | 11,406 | D | — | — | Common Stock | 11,406 | 0 | D |
Explanation of responses
- F1Restricted stock units convert into Issuer's common stock on a one-for-one basis.
- F2On February 15, 2013, the reporting person was granted 11,406 restricted stock units vesting on the third anniversary of the grant date.
- F3The person reporting disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- F492,010,554 shares are held through TTWF LP, a Delaware limited partnership. Two trusts for the benefit of members of the Chao family, including the reporting person, are the managers of TTWFGP LLC, a Delaware limited liability company that is the general partner of TTWF LP. The limited partners of TTWF LP are five trusts, principally for the benefit of members of the Chao family, including the reporting person, and two corporations owned, indirectly or directly, by certain of these trusts and by other entities owned by members of the Chao family, including the reporting person. The reporting person shares investment and voting power with respect to the shares beneficially owned by TTWF LP. The reporting person disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.