secwatch.observer — SEC 8-K summary
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Issuer:     LyondellBasell Industries N.V. (LYB)
CIK:        0001489393
Form:       8-K
Filed at:   2021-12-13T23:59:59+00:00
Accession:  0001104659-21-148833
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LyondellBasell appoints Peter Vanacker as CEO effective no later than June 2022; Ken Lane interim CEO
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- Peter Vanacker, formerly Neste CEO, appointed CEO of LyondellBasell; effective no later than June 2022.
- Ken Lane (EVP Global Olefins & Polyolefins) named interim CEO from Jan 1, 2022; base salary raised to $1.2M, STI target 150%.
- Vanacker's base salary $1.4M; STI target 150% of base; LTI target $10M (50% PSUs, 25% RSUs, 25% options).
- One-time new hire awards: $1.9M cash (subject to repayment) and $2.3M RSU award vesting over two years.
- Executive Severance Plan amended to extend CEO eligibility; provides 1.5x salary+bonus on termination without cause.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1489393/000110465921148833/0001104659-21-148833-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1489393/000110465921148833/tm2134937d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-148833

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