Scott McDougald Sutton - 31 Dec 2023 Form 4 Insider Report for OLIN Corp (OLN)

Role
Chairman, President & CEO, Director
Signature
/s/ E.C. Tanner, Attorney-in-Fact
Issuer symbol
OLN
Transactions as of
31 Dec 2023
Transactions value $
-$10,518,614
Form type
4
Filing time
03 Jan 2024, 12:25:24
Previous filing
24 Feb 2023
Next filing
12 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OLN Common Stock $1 par value Options Exercise +500K +661.76% 576K 31 Dec 2023 Direct F1
transaction OLN Common Stock $1 par value Tax liability -$10.5M -194K -33.73% $54.18 381K 31 Dec 2023 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction OLN Performance Shares Options Exercise -250K -100% 0 31 Dec 2023 Common Stock 250K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance share represented a contingent right to receive one share of Olin Common Stock. The number of performance shares that may vest ranges between 0 and 500,000, with a target number of 250,000. Performance shares vest based on the reporting person's continued employment and the achievement of an average Olin Common Stock price between $25 and $55 per share, with a target of $40 per share, over any consecutive 45 trading days between September 1, 2020 and December 31, 2023. Olin's Compensation Committee of the Board approved the grant of performance shares in connection with the reporting person's appointment as CEO/President effective September 1, 2020.
F2 Security converts to common stock on a one-to-one basis.