<SEC-DOCUMENT>0001104659-21-035033.txt : 20210311
<SEC-HEADER>0001104659-21-035033.hdr.sgml : 20210311
<ACCEPTANCE-DATETIME>20210311163122
ACCESSION NUMBER:		0001104659-21-035033
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210309
FILED AS OF DATE:		20210311
DATE AS OF CHANGE:		20210311

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			QH Hungary Holdings Ltd
		CENTRAL INDEX KEY:			0001808660
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12019
		FILM NUMBER:		21733735

	BUSINESS ADDRESS:	
		STREET 1:		STERLING TRUST CAYMAN LTD, WH
		STREET 2:		238 NORTH CHURCH STREET, P.O BOX 1043
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			KY1-1102
		BUSINESS PHONE:		36 1 646 4638

	MAIL ADDRESS:	
		STREET 1:		STERLING TRUST CAYMAN LTD, WH
		STREET 2:		238 NORTH CHURCH STREET, P.O BOX 1043
		CITY:			GEORGE TOWN
		STATE:			E9
		ZIP:			KY1-1102

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			QUAKER CHEMICAL CORP
		CENTRAL INDEX KEY:			0000081362
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS PRODUCTS OF PETROLEUM &  COAL [2990]
		IRS NUMBER:				230993790
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		ONE QUAKER PARK
		STREET 2:		901 HECTOR STREET
		CITY:			CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
		BUSINESS PHONE:		6108324000

	MAIL ADDRESS:	
		STREET 1:		ONE QUAKER PARK
		STREET 2:		901 HECTOR ST
		CITY:			CONSHOHOCKEN
		STATE:			PA
		ZIP:			19428
</SEC-HEADER>
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            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BUDAPEST</rptOwnerCity>
            <rptOwnerState>K5</rptOwnerState>
            <rptOwnerZipCode>1124</rptOwnerZipCode>
            <rptOwnerStateDescription>HUNGARY</rptOwnerStateDescription>
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    <footnotes>
        <footnote id="F1">Transfer by Gulf Hungary Holding Korlatolt Felelossegu Tarsasag (&quot;Gulf Hungary&quot;), parent company of the Reporting Person, to the Reporting Person.</footnote>
        <footnote id="F2">On March 9, 2021, the Reporting Person entered into two prepaid variable share forward transactions with Citibank, N.A. (&quot;Citibank&quot;). See Footnote 3 and Remarks for details of the transaction.</footnote>
        <footnote id="F3">The prepaid forward transactions with Citibank are each divided into 30 components (each a &quot;Component&quot;). For each Component, the reporting person is obligated to, on the settlement date (the &quot;Settlement Date&quot;) determined based on the specified scheduled valuation date within the periods from January 26, 2022 to March 9, 2022 or from July 7, 2022 to August 17, 2022 (as applicable) either, at the reporting person's option, (i) up to 3,288 Shares (or 3,289 Shares for the last four Settlement Dates) to Citi (such Share number, &quot;Subject Number&quot;) based on the average market price of the Shares determined as described below in Remarks or (ii) an amount of cash equivalent to the value of such Shares. In exchange for assuming the obligation under the two prepaid forward contracts, the reporting person received upfront cash prepayments of $21,148,410 and $20,861,652 from Citi.</footnote>
        <footnote id="F4">On March 9, 2021, the Reporting Person entered into two prepaid variable share forward transaction with JPMorgan Chase Bank, National Association (&quot;JPMorgan&quot;). See Footnote 5 and Remarks for details of the transaction.</footnote>
        <footnote id="F5">The prepaid forward transactions with JPMorgan are each divided into 30 Components. For each Component, the reporting person is obligated to, on each Settlement Date either, at the reporting person's option, (i) up to 1,715 Shares (or 1,716 Shares for the last seventeen Settlement Dates) to JPMorgan (such Share number, &quot;Subject Number&quot;) based on the average market price of the Shares determined as described below in Remarks or (ii) an amount of cash equivalent to the value of such Shares. In exchange for assuming the obligation under the two prepaid forward contracts, the reporting person received upfront cash prepayments of $11,034,074 and $10,884,459 from JPMorgan.</footnote>
        <footnote id="F6">On March 9, 2021, the Reporting Person entered into two prepaid variable share forward transaction with Royal Bank of Canada (&quot;RBC&quot;). See Footnote 7 and Remarks for details of the transaction.</footnote>
        <footnote id="F7">The prepaid forward transactions with RBC are each divided into 30 Components. For each Component, the reporting person is obligated to, on each Settlement Date either, at the reporting person's option, (i) up to 1,429 Shares (or 1,430 Shares for the last nineteen Settlement Dates) to RBC based on the average market price of the Shares determined as described below in Remarks or (ii) an amount of cash equivalent to the value of such Shares. In exchange for assuming the obligation under the two prepaid forward contracts, the reporting person received upfront cash prepayments of $9,195,026 and $9,070,347 from RBC.</footnote>
    </footnotes>

    <remarks>The number of Shares (or, at the reporting person's option, the cash equivalent) to be delivered to the applicable bank on each Settlement Date is to be determined as follows: (a) if the volume-weighted average price per Share on the relevant valuation date, as reasonably determined by the applicable bank by reference to the Bloomberg Page &quot;KWR &lt;equity&gt; AQR &lt;Go&gt;&quot; (or any successor page thereto) (provided that, if such price is not so reported for any reason or is, in the applicable bank's reasonable discretion, erroneous, a price determined by the applicable bank in good faith and a commercially reasonable manner) (the &quot;Settlement Price&quot;) is equal to or less than $242.25 per Share (the &quot;Forward Floor Price&quot;), the reporting person will deliver to the applicable bank the Subject Number of Shares; (b) if the Settlement Price is between the Forward Floor Price and $285.86 per Share (the &quot;Forward Cap Price&quot;), the reporting person will deliver to the applicable bank a number of Shares equal to the Subject Number multiplied by a fraction, the numerator of which is the Forward Floor Price and the denominator of which is the Settlement Price; and (c) if the Settlement Price is greater than the Forward Cap Price, the reporting person will deliver to the applicable bank a number of Shares equal to the product of (i) the Subject Number and (ii) a fraction (A) the numerator of which is the sum of (x) the Forward Floor Price and (y) the Settlement Price minus the Forward Cap Price, and (B) the denominator of which is the Settlement Price.</remarks>

    <ownerSignature>
        <signatureName>/s/ Judit Rozsa, Managing Director, on behalf of QH Hungary Holdings Limited</signatureName>
        <signatureDate>2021-03-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
