Form 4: Clearwater Paper Corp CEO Arsen S. Kitch Reports Tax-Related Stock Disposal
SEC Form 4 Filing
Clearwater Paper Corp CEO Arsen S. Kitch disposed of 17,199 shares of common stock on April 1, 2024, to cover tax obligations related to the vesting of restricted stock units.
Summary
- On April 1, 2024, Arsen S. Kitch, the President and CEO of Clearwater Paper Corp, disposed of 17,199 shares of common stock.
- The disposal was executed to satisfy tax withholding requirements associated with the settlement of a 2020 special grant of restricted stock units.
- The shares were sold at a price of $43.73 per share.
- Following the transaction, Kitch directly owns 244,459 shares of Clearwater Paper Corp.
Sentiment
Score: 6
Explanation: Neutral sentiment as the transaction is a routine tax-related stock disposal by an executive, not necessarily indicative of the company's performance or future prospects.
Industry Context
Executive stock transactions are routinely monitored by investors as indicators of management's confidence in the company's prospects. Disposals to cover tax obligations are common and generally not viewed negatively.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/01/2024 | Date of stock disposal and vesting of restricted stock units. |
| 04/03/2024 | Date of Form 4 filing. |
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