STEPAN CO — Director's Dealing 2020

Aug 19, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2020-08-17

Reporting Person: Behrens Scott R. (VP/GM Surfactants)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-08-17	Common Stock	M	777	$63.11	Acquired	11952.546	Direct
2020-08-17	Common Stock	M	787	$61.91	Acquired	12739.546	Direct
2020-08-17	Common Stock	M	4087	$43.85	Acquired	16826.546	Direct
2020-08-17	Common Stock	M	1665	$58.22	Acquired	18491.546	Direct
2020-08-17	Common Stock	M	6893	$72.99	Acquired	25384.546	Direct
2020-08-17	Common Stock	D	4324	$116.35	Disposed	21060.546	Direct
2020-08-17	Common Stock	F	753	$116.35	Disposed	20307.546	Direct
2020-08-17	Common Stock	S	1470	$117.088	Disposed	18837.546	Direct
2020-08-17	Common Stock	S	4630	$117.752	Disposed	14207.546	Direct
2020-08-17	Common Stock	S	1216	$118.546	Disposed	12991.546	Direct
2020-08-18	Common Stock	S	1816	$117.08	Disposed	11175.546	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-08-17	Employee Stock Option (Right to Buy)	$63.11	M	777	Disposed	2023-02-18	Common Stock (777)	Direct
2020-08-17	Employee Stock Option (Right to Buy)	$61.91	M	787	Disposed	2024-02-17	Common Stock (787)	Direct
2020-08-17	Employee Stock Option (Right to Buy)	$43.85	M	4087	Disposed	2026-02-22	Common Stock (4087)	Direct
2020-08-17	Employee Stock Option (Right to Buy)	$58.22	M	1665	Disposed	2024-04-28	Common Stock (1665)	Direct
2020-08-17	Stock Appreciation Right	$72.99	M	6893	Disposed	2028-02-20	Common Stock (6893)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3734.492	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 $116.30 to $117.265, 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 $117.39 to $118.355, 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 $118.49 to $118.80, 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.