STEPAN CO — Director's Dealing 2019

Jan 9, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2019-01-07

Reporting Person: Slone Robert Victor (VP Chief Tech & Sustainability)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-07	Common Stock	M	517	$72.99	Acquired	7564.7553	Direct
2019-01-07	Common Stock	S	517	$75.17	Disposed	7047.7553	Direct
2019-01-07	Common Stock	M	1551	$72.99	Acquired	8598.7553	Direct
2019-01-07	Common Stock	D	1506	$75.17	Disposed	7092.7553	Direct
2019-01-07	Common Stock	F	16	$75.17	Disposed	7076.7553	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-01-07	Stock Option (Right to Buy)	$72.99	M	517	Disposed	2028-02-20	Common Stock (517)	Direct
2019-01-07	Stock Appreciation Right	$72.99	M	1551	Disposed	2028-02-20	Common Stock (1551)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	463.221	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.