Quaker Chemical Corporation Grants Special Long-Term Incentive Equity Compensation Awards

On December 15, 2024, Quaker Chemical Corporation (NYSE:KWR) announced that the Compensation and Human Resources Committee of its Board of Directors had granted special long-term incentive equity compensation awards in the form of restricted stock units (RSUs) to two of its executives. Tom Coler, the Executive Vice President and Chief Financial Officer, was awarded a target number of 5,565 RSUs, while Jeewat Bijlani, the Executive Vice President and Chief Strategy Officer, received a target number of 4,255 RSUs.

These RSUs were awarded under a new form of Restricted Stock Unit Award Agreement as part of the Quaker Houghton Long-Term Performance Incentive Plan. The Awards are in the form of time-based RSUs subject to a performance modifier based on the Company’s relative Total Shareholder Return (TSR) compared to the S&P 1500 Chemicals Index (the Index). The RSUs are set to vest on the third anniversary of the grant date.

The vesting of the RSUs is contingent upon the executives’ continued employment with the Company through the vesting date, with certain exceptions outlined for prorated vesting in certain situations such as termination due to death, disability, or a change in control. Each vested RSU entitles the executive to receive one share of Quaker Chemical Corporation’s common stock.

The performance modifier attached to the RSUs determines the actual number of RSUs that will vest, ranging from 75% to 125% of the target number, based on the Company’s TSR performance compared to the Index over a three-year period from December 15, 2024, through December 15, 2027. The Awards’ target number of RSUs will be adjusted based on the Company’s TSR ranking relative to the Index.

The Award Agreement, which details the terms of the RSU grants, has been attached as Exhibit 10.1 to Quaker Chemical Corporation’s Current Report on Form 8-K. This announcement reflects the Company’s commitment to aligning executive compensation with long-term performance goals and shareholder value.

Alongside the awards to the executives, Quaker Chemical Corporation noted in its filing that their application for the Securities Exchange Act of 1934 shall be duly authorized by the company’s Senior Vice President, General Counsel, and Corporate Secretary, Robert T. Traub, as of December 17, 2024.

As per the Form 8-K filing, this move underlines the Company’s efforts to incentivize and retain top talent while ensuring alignment with the company’s long-term growth objectives and shareholder interests.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Quaker Chemical’s 8K filing here.

About Quaker Chemical

Quaker Chemical Corporation, together with its subsidiaries, develops, produces, and markets various formulated specialty chemical products for a range of heavy industrial and manufacturing applications in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers metal removal fluids, cleaning fluids, corrosion inhibitors, metal drawing and forming fluids, die-cast mold releases, heat treatment and quenchants, metal forging fluids, hydraulic fluids, specialty greases, offshore sub-sea energy control fluids, rolling lubricants, rod and wire drawing fluids, and surface treatment chemicals.