James Chao - Aug 30, 2023 Form 4 Insider Report for WESTLAKE CORP (WLK)

Signature
James Chao by J. Feng POA
Stock symbol
WLK
Transactions as of
Aug 30, 2023
Transactions value $
-$2,391,852
Form type
4
Date filed
8/31/2023, 02:36 PM
Previous filing
Feb 21, 2023
Next filing
Sep 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WLK Common Stock Options Exercise $839K +12.3K +10.21% $68.09 133K Aug 30, 2023 Direct
transaction WLK Common Stock Options Exercise $788K +17.7K +13.34% $44.42 151K Aug 30, 2023 Direct
transaction WLK Common Stock Disposed to Issuer -$4.02M -30.1K -19.94% $133.70 121K Aug 30, 2023 Direct F1
holding WLK Common Stock 93.4M Aug 30, 2023 TTWF LP & TTWF GP LLC 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 WLK Employee Option (right to buy) Options Exercise $0 +12.3K $0.00* 0 Aug 30, 2023 Common Stock 12.3K $68.09 Direct F3
transaction WLK Emplopyee Option (right to buy) Options Exercise $0 +17.7K +59.45% $0.00 47.6K Aug 30, 2023 Common Stock 17.7K $44.42 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $133.50 to $134.375, inclusive. The reporting person undertakes to provide to Westlake Corporation, any security holder of Westlake Corporation 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.
F2 92,010,554 shares of Issuer are held through TTWF LP, a Delaware limited partnership. 1,395,000 shares of the Issuer are held through TTWFGP LLC, a Delaware limited liability company that is the general partner of TTWF LP. Two trusts for the benefit of members of the Chao family, including the reporting person, are the managers of TTWFGP LLC. 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 disclaims beneficial ownership of the shares except to the extent of his pecuniary interest therein.
F3 The stock options are exercisable in three installments of 33%, 33% and 34% on February 20, 2016, 2017 and 2018, respectively.
F4 The stock options are exercisable in three installments of 33%. 33% and 34% on February 18, 2017, 2018 and 2019, respectively.