Arthur W. Mergner - Feb 14, 2023 Form 4 Insider Report for STEPAN CO (SCL)

Role: Exec VP, Supply Chain
Signature: /s/ Stephanie J. Pacitti, Attorney-in-Fact for Arthur W. Mergner
Stock symbol: SCL
Transactions as of: Feb 14, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/16/2023, 06:19 PM
Previous filing: Oct 31, 2022
Next filing: Feb 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SCL	Common Stock	Options Exercise		+3.83K	+16.25%		27.4K	Feb 14, 2023	Direct	F1, F2
holding	SCL	Common Stock						87.6	Feb 14, 2023	By Esop II Trust	F2

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	SCL	Performance Shares	Options Exercise		-2.35K	-100%		0	Feb 14, 2023	Common Stock	2.35K		Direct	F1
transaction	SCL	Performance Shares	Award	$0	+3.07K		$0.00	3.07K	Feb 14, 2023	Common Stock	3.07K		Direct	F3
transaction	SCL	Restricted Stock Units	Award	$0	+1.54K		$0.00	1.54K	Feb 14, 2023	Restricted Stock Units	1.54K		Direct	F4, F5
transaction	SCL	Stock Appreciation Right	Award	$0	+4.27K		$0.00	4.27K	Feb 14, 2023	Common Stock	4.27K	$109.92	Direct	F5
holding	SCL	Share Units						8.59K	Feb 14, 2023	Common Stock	8.59K		Direct	F2, F6, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The performance shares vested upon Stepan Company achieving certain financial targets by December 31, 2022.
F2	Includes exempt acquisitions under Rule 16a-11 pursuant to dividend reinvestments since the date of the reporting person's last report.
F3	Each performance share represents a contingent right to receive one share of Stepan Company common stock. The performance shares vest upon Stepan Company achieving certain financial targets by December 31, 2025.
F4	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Stepan Company common stock.
F5	Vests ratably over three years beginning on the date shown.
F6	Share Units convert on a one-for-one basis into Common Stock.
F7	Share Units are acquired under the Management Incentive Plan (As Amended and Restated Effective January 1, 2015) ("MIP"), a nonqualified deferred compensation plan which allows MIP participants to elect to defer all or a portion of their deferred compensation into accounts pursuant to MIP provisions.