secwatch.observer — SEC 8-K summary
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Issuer:     STEPAN CO (SCL)
CIK:        0000094049
Form:       8-K/A
Filed at:   2024-12-19T23:59:59+00:00
Accession:  0000950170-24-138222
Event type: leadership
Sentiment:  negative
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stepan CEO Scott Behrens separation: $2.82M severance, equity acceleration, 18-month non-compete
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- Cash severance of $2,820,000 paid in equal installments over 18 months.
- Unvested equity awards vest pro-rata; performance awards paid if conditions met.
- COBRA subsidy for 18 months and 9 months of executive outplacement provided.
- Behrens agreed to 18-month non-competition, non-solicitation, and indefinite confidentiality.
- Employment ended Nov 1, 2024; separation agreement effective Dec 15, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/94049/000095017024138222/0000950170-24-138222-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/94049/000095017024138222/scl-20241029.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-138222

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