In 2023, Albert Chao earned $5.04M in total compensation at Westlake Chemical Partners, including $1.25M salary and $3.48M bonus. Most recently acquired 39,738 shares in Feb 2024. Currently holds stock worth $61.68M. Led Westlake Chemical Partners as CEO for 10 years.
Compensation History
Annual executive compensation data for Albert Chao, including salary, bonuses, and stock awards.
Year
2023
Total Compensation
$5.04M
Salary
$1.25M
Bonus
$3.48M
Other
$315.43K
Salary
$1.25MBoard Justification
The compensation philosophy is designed to attract, retain, and reward top executive talent while aligning their interests with those of the shareholders through performance-based compensation.
Bonus
$3.48MBoard Justification
The bonus is based on the Annual Incentive Plan (AIP) and is calculated as 135% of base salary, with a final bonus payment equal to 204% of the target bonus due to performance achievements in 2023.
Other Compensation
$315.43KBoard Justification
This includes contributions to the 401(k) plan and other benefits.
Restricted Stock
Board Justification
No stock was vested in 2023 as the focus is on the stock grants that are yet to vest.
Performance Metrics
The performance metrics include Total Shareholder Return (TSR), Economic Value Added (EVA), and Return on Capital Employed (ROCE).
Albert Chao
Ex-CEO of Westlake Chemical Partners
Education
Not specified
Field of Expertise
Business & Management
Sector of Economy
Basic Materials
Born
January 1, 1964 - 61 years ago
CEO of Westlake Chemical Partners for
10 years 0 months (Jul 2014 - Jul 2024)
Previous Experience
President, Chief Executive Officer and Representative Director of Mitsubishi Chemical Group Corporation; Chief Executive Officer of Roquette Frères; Vice-Chairman and Chief Operating Officer of NuSil Technology LLC; Executive Vice President, Specialty Chemicals Business at Dow Corning Corporation; Chief Executive Officer of Avantor Performance Materials, Inc.
Other Westlake Chemical Partners CEOs
Holdings
Track Albert Chao's stock holdings and portfolio value over time.
Total Stock Sold
$51.42M
$51.42M
747,819 WLK shares
What if they kept their stock?
If Albert Chao didn't sell their stock, today they would have:
Extra WLK747,819 shares worth $50.87M.
This is -1.08% and $552.90K less than what they got when they sold the stock.
Insider Trading
Albert Chao's recent stock transactions, purchases, and sales filed with the SEC.
39,738 shares
WLK
Feb 16, 2024
Received
52,252 shares
WLK
Feb 17, 2023
Received
52,252 shares
WLK
Feb 17, 2023
Received
$4.93M
WLK at $130.23/share
May 19, 2022
Sale
30,577 shares
WLK
Feb 18, 2022
Received
30,577 shares
WLK
Feb 18, 2022
Received
$2.80M
WLK at $90.80/share
Dec 2, 2021
Sale
$2.84M
WLK at $92.22/share
Dec 1, 2021
Sale
$258.63K
WLK at $86.21/share
Aug 11, 2021
Purchase
$4.06M
WLK at $73.70/share
Nov 6, 2020
Sale
Rivals
Compare Albert Chao with competitor CEOs and industry peers.