SEC Form 4 · accession 0001567619-19-004968
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 18, 2019
Accepted (ET)
Feb 20, 2019 · 1:47 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 18, 2019 | M | 17,154 | — | A | 68,646 | D | |
| Common Stock | Feb 19, 2019 | F | 4,861 | $73.29 | D | 63,785 | D | |
| Common StockF3 | Feb 19, 2019 | F | 462 | $75.62 | D | 63,323 | D | |
| 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 18, 2019 | M | 17,154 | D | — | — | Common Stock | 17,154 | 0 | D |
Explanation of responses
- F1Restricted stock units convert into Issuer's shares of common stock on a one-for-one basis.
- F2On February 18, 2016, the reporting person was granted 17,154 restricted stock units vesting on the third anniversary of the grant date.
- F3The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $75.56 to $75.65, 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.
- 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.