STEPAN CO — Director's Dealing 2023

May 8, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2023-05-04

Reporting Person: Behrens Scott R. (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-04	Common Stock	S	516	$88.9388	Disposed	14240.281	Direct
2023-05-04	Common Stock	S	1384	$90.2206	Disposed	12856.281	Direct
2023-05-04	Common Stock	S	100	$90.61	Disposed	12756.281	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4102.506	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Share Units	$		Common Stock (14084.279)	14084.279	Direct

Footnotes

F1: Includes exempt acquisitions under Rule 16a-11 pursuant to dividend reinvestments since the date of the reporting person's last report.

F2: 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 $88.550 to $89.480, 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.

F3: 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 $89.570 to $90.565, 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.

F4: Share Units are acquired under the Management Incentive Plan (As Amended and Restated Effective January 1, 2015) ("MIP"), a nonqualified deferred compensation plan which allows MIP participants to elect to defer all or a portion of their deferred compensation into accounts pursuant to MIP provisions.

F5: Share Units convert on a one-for-one basis into Common Stock.