STEPAN CO — Director's Dealing 2019

Nov 27, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2019-11-26

Reporting Person: Mergner Arthur W (VP, Supply Chain)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-11-26	Common Stock	M	11553	$41.16	Acquired	23007.096	Direct
2019-11-26	Common Stock	D	4725	$100.65	Disposed	18282.096	Direct
2019-11-26	Common Stock	F	3025	$41.16	Disposed	15257.096	Direct
2019-11-26	Common Stock	S	3803	$99.995	Disposed	11454.096	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-11-26	Stock Appreciation Right	$41.16	M	11553	Disposed	2025-02-16	Common Stock (11553)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3248.628	Indirect

Footnotes

F1: The stock appreciation rights ("SARs") were settled in shares of common stock as per the terms of the award.

F2: Deemed disposition of underlying common stock to the issuer in an amount equal to the conversion price of the SARs.

F3: Withholding of shares to satisfy tax liability on exercise of SARs.

F4: The price reported is a weighted average price. Shares were sold in a series of transactions within the same trading day at prices ranging from $99.600 to $100.350, inclusive. Full information regarding the number of shares sold at each separate price is available upon request by the Commission staff, the issuer, or a security holder of the issuer.

F5: This holding is re-reported solely to gain access to the electronic filing system to file this amendment, and the sole purpose of the amendment is to add the Power of Attorney that was inadvertently omitted from the original filing.