Westlake Corp Appoints New Directors, Details Officer Compensation

TL;DR

Westlake added 2 board members, 1 stepped down. Officer pay details also filed.

AI Summary

Westlake Corporation announced on May 22, 2024, the appointment of two new directors, Albert Chao and James Chao, to its Board of Directors, effective immediately. Additionally, the company reported that Steven Crown has stepped down from the Board. The filing also details compensatory arrangements for certain officers.

Why It Matters

Changes in board composition can signal shifts in strategic direction or governance, while details on officer compensation provide insight into management incentives.

Risk Assessment

Risk Level: low — The filing primarily concerns board appointments and compensation, which are routine corporate governance matters.

Key Players & Entities

• Westlake Corporation (company) — Registrant
• Albert Chao (person) — Newly appointed Director
• James Chao (person) — Newly appointed Director
• Steven Crown (person) — Director who stepped down
• May 22, 2024 (date) — Effective date of appointments and departure

FAQ

From the Filing

0001193125-24-149225.txt : 20240529 0001193125-24-149225.hdr.sgml : 20240529 20240529163345 ACCESSION NUMBER: 0001193125-24-149225 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240522 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240529 DATE AS OF CHANGE: 20240529 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: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32260 FILM NUMBER: 24998971 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 8-K 1 d798140d8k.htm 8-K 8-K WESTLAKE CORP false 0001262823 0001262823 2024-05-22 2024-05-22 0001262823 us-gaap:CommonStockMember 2024-05-22 2024-05-22 0001262823 us-gaap:SeniorNotesMember 2024-05-22 2024-05-22     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): May 22, 2024     Westlake Corporation (Exact name of registrant as specified in its charter)       Delaware   001-32260   76-0346924 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   2801 Post Oak Boulevard , Suite 600 Houston , Texas   77056 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (713) 960-9111     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock   WLK   The New York Stock Exchange 1.625% Senior Notes due 2029   WLK 29   The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On May 22, 2024, Marius A. Haas informed Westlake Corporation (the “Company”) of his decision to resign from the Board of Directors of the Company in order to focus on Ba