FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Rojo Luis 2. Issuer Name and Ticker or Trading Symbol STEPAN CO [ SCL ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
VP & Chief Financial Officer
(Last)         (First)         (Middle)
1101 SKOKIE BOULEVARD, SUITE 500
3. Date of Earliest Transaction (MM/DD/YYYY)
11/5/2021
(Street)
NORTHBROOK, IL 60062
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock  11/5/2021    M(1)    2000  A $70.86  4210  D   
Common Stock  11/5/2021    D(2)    1135  D $124.95  3075  D   
Common Stock  11/5/2021    F(3)    254  D $124.95  2821  D   
Common Stock  11/5/2021    M(1)    1000  A $70.86  3821  D   
Common Stock  11/5/2021    D(2)    552  D $128.35  3269  D   
Common Stock  11/5/2021    F(3)    132  D $128.35  3137  D   
Common Stock  11/5/2021    S    800  D $125.015 (4) 2337  D   
Common Stock  11/5/2021    S    300  D $125.88 (5) 2037  D   
Common Stock  11/8/2021    M(1)    1000  A $70.86  3037  D   
Common Stock  11/8/2021    D(2)    553  D $128.22  2484  D   
Common Stock  11/8/2021    F(3)    131  D $128.22  2353  D   
Common Stock  11/8/2021    S    900  D $128.147  1453  D   
Common Stock                 232.587 (6) I  By Esop II Trust 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Right  $70.86  11/5/2021    M        2000   5/2/2019 (7) 5/1/2028  Common Stock  2000  $0  7221  D   
Stock Appreciation Right  $70.86  11/5/2021    M        1000   5/2/2019 (7) 5/1/2028  Common Stock  1000  $0  6221  D   
Stock Appreciation Right  $70.86  11/8/2021    M        1000   5/2/2019 (7) 5/1/2028  Common Stock  1000  $0  5221  D   
Share Units   (8)                  (9)  (9) Common Stock  2223.907    2223.907 (6) D   

Explanation of Responses:
(1)  The Stock Appreciation Rights ("SARS") were settled in shared of common stock as per the terms of the award.
(2)  Deemed disposition of underlying common stock to the issuer in an amount equal to the conversion price of the SARs.
(3)  Withholding of shares to satisfy tax liability on exercise of SARs.
(4)  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 $124.738 to $125.51, 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.
(5)  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 $125.78 to $126.01, 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.
(6)  Includes exempt acquisitions under Rule 16a-11 pursuant to dividend reinvestments since the date of the reporting person's last report.
(7)  Vests ratably over three years beginning on the date shown.
(8)  Share units convert on a one-for-one basis into Common Stock.
(9)  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.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Rojo Luis
1101 SKOKIE BOULEVARD, SUITE 500
NORTHBROOK, IL 60062


VP & Chief Financial Officer

Signatures
/s/ Stephanie J. Pacitti, Attorney-in-Fact for Luis Rojo 11/9/2021
**Signature of Reporting Person Date
Stepan (NYSE:SCL)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Stepan Charts.
Stepan (NYSE:SCL)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Stepan Charts.