SEC Form 4 · accession 0001140361-16-086951
WESTLAKE CORP · WLK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Albert Chao
Officer — President & CEO · Director · 10% Owner
Period of report
Nov 14, 2016
Accepted (ET)
Nov 16, 2016 · 4:12 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,F3 | Nov 14, 2016 | S | 10,000 | $52.8439 | D | 30,000 | I | By Mother's Estate |
| Common StockF2,F3 | Nov 15, 2016 | S | 10,000 | $53.0595 | D | 20,000 | I | By Mother's Estate |
| Common Stock | holding | — | — | — | 264,702 | D | ||
| Common StockF3 | holding | — | — | — | 111,532 | I | By Brother James Chao | |
| Common StockF4 | holding | — | — | — | 92,010,554 | I | TTWF LP & TTWFGP LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1In accordance with the Securities and Exchange Commission's No Action Letter dated June 25, 2008, we have aggregated the sales that occurred on November 14, 2016 for ease of reporting. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $52.63 to 53.11, inclusive. The reporting person undertakes to provide to Westlake Chemical Corp., any security holder of Westlake Chemical Corp. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.
- F2In accordance with the Securities and Exchange Commission's No Action Letter dated June 25, 2008, we have aggregated the sales that occurred on November 15, 2016 for ease of reporting. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $52.72 to 53.63, inclusive. The reporting person undertakes to provide to Westlake Chemical Corp., any security holder of Westlake Chemical Corp. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4.
- 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 of Issuer 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.