Westlake Corp DEF 14A: Executive Pay & Governance Details

Ticker: WLK · Form: DEF 14A · Filed: 2024-03-29T00:00:00.000Z

Sentiment: neutral

Topics: executive-compensation, corporate-governance, proxy-statement

Related Tickers: WLK

TL;DR

Westlake Corp's 2023 DEF 14A is out, detailing exec pay and governance. Shareholders, take note.

AI Summary

Westlake Corp filed its DEF 14A on March 29, 2024, detailing executive compensation and corporate governance for the fiscal year ending December 31, 2023. The filing includes information on awards granted, vested, and forfeited during the year, as well as changes in the fair value of outstanding awards. Specific details on compensation for named executive officers and board members are provided.

Why It Matters

This filing provides shareholders with crucial information regarding how executive compensation is structured and approved, impacting company performance and shareholder value.

Risk Assessment

Risk Level: medium — DEF 14A filings can reveal details about executive compensation and corporate actions that may influence stock price and investor sentiment.

Key Numbers

2023 — Fiscal Year (Reporting period for compensation and governance details.)
2022 — Prior Fiscal Year (Comparative data for compensation and governance.)
2021 — Prior Fiscal Year (Comparative data for compensation and governance.)

Key Players & Entities

WESTLAKE CORP (company) — Filer
20240329 (date) — Filing Date
20240509 (date) — Period of Report
2023-12-31 (date) — Fiscal Year End

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Definitive Proxy Statement, is used to solicit proxies from shareholders for an upcoming annual or special meeting of security holders. It provides detailed information about matters to be voted on, including executive compensation, director elections, and other corporate actions.

When was this DEF 14A filing submitted by Westlake Corp?

Westlake Corp submitted this DEF 14A filing on March 29, 2024.

What fiscal year does this filing primarily cover?

This filing primarily covers the fiscal year ending December 31, 2023, with comparative data from prior years.

What specific types of compensation-related data are included in this filing?

The filing includes data on the fair value of awards granted during the year that remain unvested, awards that vested during the year, changes in fair value of outstanding awards, and awards that were forfeited.

Where is Westlake Corp headquartered?

Westlake Corp is headquartered in Houston, Texas, with its business and mailing address listed as 2801 Post Oak Blvd, Suite 600, Houston, TX 77056.

From the Filing

0001193125-24-081679.txt : 20240329 0001193125-24-081679.hdr.sgml : 20240329 20240329110050 ACCESSION NUMBER: 0001193125-24-081679 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 26 CONFORMED PERIOD OF REPORT: 20240509 FILED AS OF DATE: 20240329 DATE AS OF CHANGE: 20240329 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTLAKE CORP CENTRAL INDEX KEY: 0001262823 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 760346924 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-32260 FILM NUMBER: 24802573 BUSINESS ADDRESS: STREET 1: 2801 POST OAK BLVD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: 713-960-9111 MAIL ADDRESS: STREET 1: 2801 POST OAK BLVD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77056 FORMER COMPANY: FORMER CONFORMED NAME: WESTLAKE CHEMICAL CORP DATE OF NAME CHANGE: 20030908 DEF 14A 1 d625500ddef14a.htm DEF 14A DEF 14A DEF 14A false 0001262823 0001262823 2023-01-01 2023-12-31 0001262823 2021-01-01 2021-12-31 0001262823 2022-01-01 2022-12-31 0001262823 2020-01-01 2020-12-31 0001262823 wlk:FairValueOfAwardsGrantedDuringYearThatRemainUnvestedAsOfYearendMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:FairValueOfAwardsGrantedDuringYearThatVestDuringYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:ChangeInFairValueFromPriorYearendToCurrentYearendOfAwardsGrantedPriorToYearThatWereOutstandingAndUnvestedAsOfYearendMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:ChangeInFairValueFromPriorYearendToVestingDateOfAwardsGrantedPriorToYearThatVestedDuringYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:FairValueOfAwardsGrantedPriorToYearThatWereForfeitedDuringYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:FairValueOfAwardsGrantedPriorToYearThatWereForfeitedDuringYearMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:BasedOnDividendsOrOtherEarningsPaidDuringYearPriorToVestingDateOfAwardMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:TotalAdjustmentsMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:OptionAwardsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:BasedOnDividendsOrOtherEarningsPaidDuringYearPriorToVestingDateOfAwardMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:TotalAdjustmentsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:StockAwardsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0001262823 wlk:StockAwardsMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:OptionAwardsMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:FairValueOfAwardsGrantedDuringYearThatRemainUnvestedAsOfYearendMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:FairValueOfAwardsGrantedDuringYearThatVestDuringYearMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:ChangeInFairValueFromPriorYearendToCurrentYearendOfAwardsGrantedPriorToYearThatWereOutstandingAndUnvestedAsOfYearendMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 wlk:ChangeInFairValueFromPriorYearendToVestingDateOfAwardsGrantedPriorToYearThatVestedDuringYearMember ecd:PeoMember 2023-01-01 2023-12-31 0001262823 3 2023-01-01 2023-12-31 0001262823 4 2023-01-01 2023-12-31 0001262823 1 2023-01-01 2023-12-31 0001262823 2 2023-01-01 2023-12-31 iso4217:USD xbrli:pure utr:Year iso4217:USD xbrli:shares     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )     Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box:   ☐ Preliminary Proxy Statement   ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))   ☒ Definit