secwatch.observer — SEC 8-K summary
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Issuer:     STEPAN CO (SCL)
CIK:        0000094049
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0000950170-24-118577
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stepan promotes CFO Luis Rojo to President and CEO; Scott Behrens departs
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- Luis Rojo appointed President and CEO effective immediately, succeeding Scott Behrens after 31 years.
- Rojo receives base salary $940k, target bonus 100% of salary, and equity grants totaling $2M with performance vesting conditions.
- Samuel Hinrichsen named interim CFO; annual salary $300k, target bonus 48% of base salary, long-term incentive $100k.
- Board approves $600k retention award for EVP Supply Chain Robert Haire, split cash and RSUs vesting over two years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/94049/000095017024118577/0000950170-24-118577-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/94049/000095017024118577/scl-20241029.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-118577

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer