The above information was disclosed in a filing to the SEC. Some additional info was provided as follows:
Each performance share represents a contingent right to receive 1 share of Stepan Company Common Stock. The performance shares vest upon Stepan Company achieving certain financial targets by December 31, 2015.
To see this filing in its entirety, click here.
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Other recent filings from the company include the following:
Stepan Reports Second Quarter Results And Announces Dividend - July 23, 2014