UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________
FORM 8-K
____________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 25, 2020
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LYONDELLBASELL INDUSTRIES N.V.
(Exact Name of Registrant as Specified in Charter)
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| | | | | | | | |
| Netherlands | 001-34726 | 98-0646235 |
(State or Other Jurisdiction
of Incorporation) | (Commission
File Number) | (IRS Employer
Identification No.) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 1221 McKinney St., | | | 4th Floor, One Vine Street | | | | | | |
| Suite 300 | | | London | | | | Delftseplein 27E | | |
| Houston, | Texas | | W1J0AH | | | | 3013AA | Rotterdam | |
| USA | 77010 | | United Kingdom | | | | Netherlands | | |
(Addresses of principal executive offices)
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (713) | 309-7200 | | +44 (0) | 207 | 220 2600 | | +31 (0) | 10 | 2755 500 | |
(Registrant’s telephone numbers, including area codes)
(Former Name or Former Address, if Changed Since Last Report)
_____________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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| Title of Each Class | | Trading Symbol | | Name of Each Exchange On Which Registered |
| Ordinary Shares, €0.04 Par Value | | LYB | | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 25, 2020, Dan Coombs, a named executive officer, announced his plans to retire from his position as Executive Vice President, Global Manufacturing, Projects and Refining of LyondellBasell Industries N.V. (the “Company”), effective August 1, 2020. Mr. Coombs’ duties will be allocated to other executives following his departure.
In connection with his retirement, Mr. Coombs will be eligible to receive benefits under the Company’s annual short-term incentive (bonus) plan, outstanding equity awards and other employee benefits retirement plans as described in the Company’s 2020 proxy statement, provided, however, that under the Company’s bonus plan, long term incentive awards, and vacation policies, Mr. Coombs will be deemed to have reached “Retirement” (as defined thereunder). In addition, he will receive $66,600 (less applicable taxes and other deductions) and remain eligible to receive up to $166,500 in connection with certain project incentive awards, with the remaining amount paid upon completion of the related project and subject to the project award criteria. Mr. Coombs has also agreed to customary confidentiality, cooperation, non-competition, non-solicitation and non-disparagement provisions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
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| | | | LYONDELLBASELL INDUSTRIES N.V. | |
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| Date: | June 25, 2020 | | | By: | /s/ Jeffrey A. Kaplan |
| | | | | Jeffrey A. Kaplan |
| | | | | Executive Vice President and Chief Legal Officer |
