Form 4: Clearwater Paper Corp Director Hillman Reports Acquisition of Phantom Stock Units

Director Jeanne M Hillman reports acquisition of phantom stock units in Clearwater Paper Corp through deferred compensation plan.

Summary

• Jeanne M Hillman, a director of Clearwater Paper Corp, filed a Form 4 on October 3, 2024, reporting a transaction that occurred on October 1, 2024.
• The transaction involved the acquisition of 752.688 phantom stock units at a price of $27.9 per unit.
• These units were credited to Hillman's account under the Clearwater Paper Corporation Deferred Compensation Plan for Directors.
• Hillman's total holdings after the transaction amount to 4,881.543 phantom stock units.
• The phantom stock units will be converted to cash on a 1-for-1 basis with the issuer's common stock on a date previously elected by the reporting person, no earlier than January 1, 2031.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and ongoing relationship between the director and the company. This is generally viewed neutrally to positively.

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 and paid on the date previously elected by the reporting person in accordance with the provisions of the Clearwater Paper Corporation Deferred Compensation Plan for Directors.

Industry Context

Directors often receive stock-based compensation to align their interests with shareholders. Phantom stock units are a common form of deferred compensation.

Stakeholder Impact

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

Key Dates