SEC Form 4 · accession 0001140361-17-043829
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 22, 2017
Accepted (ET)
Nov 27, 2017 · 12:40 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 | Nov 22, 2017 | M | 25,000 | $9.645 | A | 299,018 | D | |
| Common StockF1 | Nov 22, 2017 | S | 24,899 | $94.893 | D | 274,119 | D | |
| Common StockF2 | Nov 22, 2017 | S | 101 | $95.602 | D | 274,018 | D | |
| Common Stock | Nov 24, 2017 | M | 20,000 | $9.645 | A | 294,018 | D | |
| Common StockF3 | Nov 24, 2017 | S | 20,000 | $94.584 | D | 274,018 | D | |
| Common StockF5 | 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)F4 | $9.645 | Nov 22, 2017 | M | 25,000 | D | — | Feb 15, 2018 | Common Stock | 25,000 | 86,844 | D |
| Employee Option (right to buy)F4 | $9.645 | Nov 24, 2017 | M | 20,000 | D | — | Feb 15, 2018 | Common Stock | 20,000 | 66,844 | D |
Explanation of responses
- F1The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $94.595 to $95.53, 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.
- F2The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $95.60 to $95.76, 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.
- F3The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $94.50 to $95.35, 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.
- F4The stock options are excercisable in three equal installments on February 15, 2009, 2010 and 2011.
- F592,010,554 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.