Moreno Hernandez Miguel 4
4 · QUAKER CHEMICAL CORP · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Quaker Chemical (KWR) SVP Miguel Moreno Receives Vesting Shares; 241 Withheld
What Happened
Miguel Moreno (SVP, Regulatory & Commercial Lead – EMEA) had multiple equity award settlements on March 15, 2026. The Form 4 shows 1,242 shares acquired through grants/vestings and conversions of derivative awards (PSUs/RSUs and dividend equivalents). To satisfy tax withholding, 241 shares were surrendered at $118.45 per share (total reported value $28,546). Several derivative-share conversions were also listed as disposed/offset in the reporting (zero cash consideration), consistent with settlement/netting activity.
Key Details
- Transaction date: March 15, 2026; Form 4 filed March 17, 2026.
- Reported acquisitions (vest/convert/award): 1,242 shares (various RSU/PSU/DER settlements).
- Shares surrendered for tax withholding: 241 shares at $118.45 each = $28,546 (code F).
- Other derivative activity: conversions/exercises and corresponding disposals of 363 shares at $0 (codes M and derivative disposals) — reflected as part of award settlement/netting.
- Net shares received (acquired minus surrendered/disposed in this filing): ~638 shares.
- Footnotes summary:
- F1: PSUs from 3/15/2023 vested upon certification of performance (ROIC-based).
- F2–F8: RSUs and dividend-equivalent rights (DERs) from grants in 2023–2025 settled or converted; some RSUs vest over multi-year schedules.
- F4: Shares surrendered to satisfy withholding tax obligations.
- Shares owned after the transaction: not disclosed in provided data.
- Filing timeliness: Form 4 filed two days after the reported transaction date (filed 3/17 for 3/15 activity).
Context
This filing reflects routine compensation-related vesting and settlement of long-term incentive awards (PSUs, RSUs, and DERs) rather than an open-market purchase or a discretionary sale. The 241-share disposition was a tax withholding event (common on vesting). Several derivative conversions and zero-consideration disposals indicate net settlement/cashless mechanics rather than market sales.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-15+120→ 2,062 total - Exercise/Conversion
Common Stock
[F2]2026-03-15+100→ 2,162 total - Exercise/Conversion
Common Stock
[F2]2026-03-15+90→ 2,252 total - Exercise/Conversion
Common Stock
[F2]2026-03-15+166→ 2,418 total - Exercise/Conversion
Common Stock
[F3]2026-03-15+7→ 2,425 total - Tax Payment
Common Stock
[F4]2026-03-15$118.45/sh−241$28,546→ 2,184 total - Exercise/Conversion
Restricted Stock Units
[F2][F5]2026-03-15−100→ 0 total→ Common Stock (100 underlying) - Exercise/Conversion
Restricted Stock Units
[F2][F6]2026-03-15−90→ 90 total→ Common Stock (90 underlying) - Exercise/Conversion
Restricted Stock Units
[F2][F7]2026-03-15−166→ 332 total→ Common Stock (166 underlying) - Exercise/Conversion
Dividend Equivalent Rights
[F3]2026-03-15−7→ 0 totalExp: 2026-03-15→ Common Stock (7 underlying) - Award
Restricted Stock Units
[F8]2026-03-15+759→ 759 total→ Common Stock (759 underlying)
Footnotes (8)
- [F1]Shares earned upon vesting and settlement of Performance Stock Units (PSUs) awarded on March 15, 2023, upon certification of performance results by the Compensation and Human Resources Committee based on achievement of the adjusted return on invested capital (ROIC) metric, during the three year performance period.
- [F2]Restricted stock units (RSUs) convert into common stock on a one-for-one basis.
- [F3]Dividend equivalent rights (DERs) accrued on reporting person's RSUs granted on March 15, 2023, March 15, 2024 and March 15, 2025. The rights accrued when and as dividends were paid on KWR common stock. This Form 4 reports the settlement of DERs in connection with the third installment of the 2023 RSU grant, the second installment of the 2024 RSU grant and the first installment of the 2025 RSU grant, each vesting on March 15, 2026. Each DER was the economic equivalent of one share of KWR common stock.
- [F4]Shares surrendered by reporting person to satisfy withholding tax obligation upon the full or partial vesting of certain PSUs and RSUs previously granted under the Company's Long-Term Performance Incentive Plan.
- [F5]On March 15, 2023, the reporting person was granted 299 time-based RSUs, vesting in three annual installments beginning on March 15, 2024.
- [F6]On March 15, 2024, the reporting person was granted 269 time-based RSUs, vesting in three annual installments beginning on March 15, 2025.
- [F7]On March 15, 2025, the reporting person was granted 498 time-based RSUs, vesting in three annual installments beginning on March 15, 2026.
- [F8]Time-based RSUs granted under the Company's Long-Term Performance Incentive Plan, which will vest in three annual installments beginning on March 15, 2027. Each RSU represents a contingent right to receive one share of KWR common stock and DERs accrue with respect to these RSUs when and as dividends are paid on KWR common stock.