Amendment: Stepan Company filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Indicate by check mark whether the registrant is an emerging growth company 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. ☐
Explanatory Note
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
In connection with Mr. Kabbes’ retirement, the Company and Mr. Kabbes entered into a professional services and consulting agreement, effective as of March 14, 2025 (the “Consulting Agreement”). Pursuant to the Consulting Agreement, Mr. Kabbes will provide consulting and/or other professional services as requested and directed by the Company’s President and Chief Executive Officer or his designee, including transition services to the Company’s interim general counsel and/or new general counsel, for a term to end on December 31, 2025, unless earlier terminated in accordance with its terms. Under the terms of the Consulting Agreement, Mr. Kabbes will receive a fee of $20,000 per month to be paid in monthly installments. The Consulting Agreement contains customary confidentiality provisions, as well as customary non-solicitation and non-competition provisions that apply during the term of the Consulting Agreement. The foregoing description of the Consulting Agreement is qualified in its entirety by reference to the terms of the Consulting Agreement, which is filed herewith as Exhibit 10.1 and is incorporated herein by this reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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Description |
10.1 |
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104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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STEPAN COMPANY |
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Date: |
March 20, 2025 |
By: |
/s/ Sharon N. Purnell |
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Sharon N. Purnell |