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SCL > SEC Filings for SCL > Form 8-K on 8-Jul-2013All Recent SEC Filings

Show all filings for STEPAN CO

Form 8-K for STEPAN CO


Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On July 8, 2013, Stepan Company ("Stepan") announced that James E. Hurlbutt is retiring and will step down as Vice President and Chief Financial Officer on August 15, 2013. Stepan also announced that Scott D. Beamer has joined Stepan and will serve as its Vice President and Chief Financial Officer, effective upon Mr. Hurlbutt's retirement. Mr. Hurlbutt expects to remain with Stepan after August 15, 2013 to assist with the transition of his responsibilities to Mr. Beamer.

Mr. Beamer, age 42, most recently served as Assistant Corporate Controller at PPG Industries, Inc. ("PPG"), a position he held since 2012. From 2008 through 2012, Mr. Beamer was Chief Financial Officer of the European Region for PPG, and he held various other positions during his 16 year career at PPG. Prior to joining PPG, Mr. Beamer worked as an auditor at Ernst & Young for four years. In addition, Mr. Beamer is a licensed CPA.

As Vice President and Chief Financial Officer, Mr. Beamer will receive an annual salary of $305,000 and will be eligible to participate in Stepan's short-term incentive compensation and long-term incentive compensation programs as appropriate for his position. In connection with his appointment, Mr. Beamer will be granted an equity award in the amount of $250,000 as well as a restricted stock award in the amount of $200,000 pursuant to Stepan's incentive compensation plan. Additionally, Mr. Beamer will be entitled to certain relocation benefits and will also be eligible for certain employee benefits generally available to all Stepan employees. Mr. Beamer has neither family relationships nor related party transactions that would require disclosure under Items 401(d) or 404(a) of Regulation S-K of the Securities Exchange Act of 1934.

A copy of the press release relating to Mr. Hurlbutt's retirement and Mr. Beamer's appointment is being furnished as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits Exhibit Number: 99.1 Description: Press Release of Stepan Company dated July 8, 2013

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