STEPAN CO
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
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Item 1A. Risk Factors
There have been no material changes to the risk factors disclosed in the Company’s 2023 Annual Report on Form 10-K.
Below is a summary by month of share purchase by the Company during the first quarter of 2024:
| Month · Total Numberof Shares Purchased · Average PricePaid per Share · Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) · Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs (1) | |||||
|---|---|---|---|---|---|
| January 2024 | 1,614 | (2) | $94.43 | — | $125,050,905 |
| February 2024 | 34,904 | (3) | $89.99 | — | $125,050,905 |
| March 2024 | 9,484 | (4) | $87.52 | — | $125,050,905 |
| Total | 46,002 | $89.64 | — | $125,050,905 | |
(1)
On October 20, 2021, the Company announced that its Board of Directors had authorized the Company to repurchase up to $150,000,000 of its outstanding common stock. Under this program, which does not have an expiration date, repurchases may be made from time to time through open market transactions, privately negotiated transactions or a combination of the foregoing, subject to applicable laws.
(2)
Includes 1,266 and 348 shares of the Company's common stock surrendered by employees to settle statutory withholding taxes related to the distribution of restricted stock units and the exercise of stock appreciation rights, respectively.
(3)
Includes 9,576, 21,992, 2,599 and 737 shares of the Company's common stock surrendered by employees to settle statutory withholding taxes related to the distribution of deferred management incentive compensation, the distribution of deferred performance shares, the distribution of restricted stock units and the exercise of stock appreciation rights, respectively.
(4)
Includes 9,307, 106 and 71 shares of the Company's common stock surrendered by employees to settle statutory withholding taxes related to the distribution of performance shares, the distribution of restricted stock units and the exercise of stock appreciation rights, respectively.
None
Not applicable
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