Form 4: Clearwater Paper Corp: Director Jeanne Hillman Acquires Phantom Stock

Clearwater Paper Corp director Jeanne Hillman acquired phantom stock units valued at $15.81 per unit, as detailed in a recent SEC Form 4 filing.

Summary

• Jeanne M. Hillman, a Director at Clearwater Paper Corp (CLW), acquired phantom stock units on July 1, 2026.
• The acquisition involved 1,549.652 phantom stock units.
• Each unit is valued at $15.81.
• These phantom stock units are part of the Clearwater Paper Corporation Deferred Compensation Plan for Directors.
• The units will be converted to cash and paid on a 1-for-1 basis with the issuer's common stock.
• The payment date is determined by the reporting person's prior election, with a potential conversion date of January 1, 2031.
• Following this transaction, Hillman beneficially owns 13,173.328 phantom stock units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a standard compensation event for a director rather than a significant strategic or financial development.

Positives

• Director participation in equity-linked compensation plans can signal confidence in the company's future performance.
• The acquisition of phantom stock units by a director indicates continued engagement with the company's long-term value.

Negatives

• The filing details a routine compensation event rather than a significant strategic development or financial performance indicator.

Risks

• The value of phantom stock units is tied to the company's common stock price, exposing the director to market volatility.
• Deferred compensation plans may be subject to changes in tax laws or company financial performance affecting payout.

Future Outlook

Phantom stock units are set to be converted to cash and paid out on a 1-for-1 basis with the issuer's common stock, with payment dates elected by the reporting person, potentially as late as January 1, 2031.

Industry Context

StockSavvy.ai notes that director compensation structures involving phantom stock units are common in the paper and packaging industry, aligning executive and director interests with shareholder value over the long term.

Stakeholder Impact

• Shareholders: The transaction reflects a standard compensation practice for directors, with no immediate direct impact on share price but indicates ongoing director commitment.
• Employees: The deferred compensation plan for directors is separate from employee compensation structures.
• Management: The transaction is a routine part of director compensation and does not directly impact executive management's operational roles.

Next Steps

• Phantom stock units will be converted to cash and paid on a date previously elected by the reporting person.
• Payment will be on a 1-for-1 basis with Clearwater Paper Corp's common stock.

Key Dates

Keywords

Clearwater Paper Corp, CLW, Form 4, SEC Filing, Director Compensation, Phantom Stock Units, Deferred Compensation, Beneficial Ownership, Equity Award