Form 4: Clearwater Paper Corp Director Acquires Phantom Stock Units

Director Jeanne M. Hillman acquired 711.623 phantom stock units of Clearwater Paper Corp on January 2, 2025, under the company's deferred compensation plan.

Summary

• Jeanne M. Hillman, a director at Clearwater Paper Corp, acquired 711.623 phantom stock units on January 2, 2025.
• These phantom stock units were credited to her account under the company's Deferred Compensation Plan for Directors.
• The units will be converted to cash on a 1-for-1 basis with the issuer's common stock at a future date elected by the director.
• The acquisition price of the phantom stock units was $29.51 per unit.
• Following this transaction, Ms. Hillman beneficially owns 5,593.166 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction under a standard compensation plan, indicating a neutral to slightly positive sentiment due to alignment of director interests with company performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the company's performance.
• The deferred compensation plan allows for tax-advantaged savings for the director.

Future Outlook

The phantom stock units will be converted to cash at a future date elected by the director, based on the value of Clearwater Paper Corp's common stock at that time.

Industry Context

This is a standard transaction for directors receiving compensation through deferred stock plans, common in publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans using phantom stock units are a common practice for compensating directors in publicly traded companies.
• Many companies, such as International Paper and WestRock, use similar methods to align director compensation with company performance.
• The specific terms of the plan, such as the vesting schedule and conversion mechanism, are typical for these types of arrangements.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning director compensation with company performance.

Key Dates

Keywords

phantom stock units, Clearwater Paper Corp, director, deferred compensation, insider trading, Form 4