SEC Form 4 · accession 0001140361-17-009660
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
Feb 23, 2017
Accepted (ET)
Feb 28, 2017 · 4:32 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 Stock | Feb 23, 2017 | M | 42,180 | $15.805 | A | 316,198 | D | |
| Common StockF1 | Feb 23, 2017 | S | 42,180 | $63.3505 | D | 274,018 | D | |
| Common StockF3 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Option (right to buy)F2 | $15.805 | Feb 23, 2017 | M | 42,180 | D | — | Feb 23, 2017 | Common Stock | 42,180 | 0 | D |
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 February 23, 2017 for ease of reporting. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $63.28 to 63.49, 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.
- F2The stock options are exercisable in three equal installments on February 23, 2008, 2009 and 2010.
- F392,010,554 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 her pecuniary interest therein.