STEPAN CO — Director's Dealing 2019

Aug 1, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2019-07-30

Reporting Person: Moriarty Sean Thomas (VP & GM Polymers)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-07-30	Common Stock	M	4598	$43.85	Acquired	5074.9717	Direct
2019-07-30	Common Stock	D	2085	$96.73	Disposed	2989.9717	Direct
2019-07-30	Common Stock	F	1013	$96.73	Disposed	1976.9717	Direct
2019-07-30	Common Stock	S	1500	$96.74	Disposed	476.9717	Direct
2019-07-31	Common Stock	S	959	$100.583	Disposed	5074.9717	Direct
2019-07-31	Common Stock	M	959	$43.85	Acquired	6033.9717	Direct
2019-07-31	Common Stock	S	879	$100.791	Disposed	5074.9717	Direct
2019-07-31	Common Stock	S	80	$101.597	Disposed	5953.9717	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-07-30	Stock Appreciation Right	$43.85	M	4598	Disposed	2026-02-22	Common Stock (4598)	Direct
2019-07-31	Stock Option (Right to Buy)	$43.85	M	959	Disposed	2026-02-22	Common Stock (959)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3764.957	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 $96.460 to $97.130, 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: 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 $100.500 to $101.655, 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.

F6: 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 $100.500 to $101.480, 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.

F7: 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 $101.520 to $101.655, 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.