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

Clearwater Paper Corp. reports that Director Jeanne M. Hillman acquired phantom stock units under the company's Deferred Compensation Plan for Directors.

Summary

• Jeanne M. Hillman, a Director at Clearwater Paper Corp. (CLW), acquired phantom stock units on April 1, 2026.
• 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 acquisition represents deferred quarterly retainer meeting fees.
• Following the transaction, Hillman beneficially owns 11,623.676 shares of common stock indirectly.

Sentiment

Score: 5

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

Positives

• Director Jeanne M. Hillman's acquisition of phantom stock units indicates continued investment and commitment to the company.
• The transaction is part of a structured deferred compensation plan, suggesting a well-established compensation framework for directors.

Future Outlook

Phantom stock units will be converted to cash and paid on a date previously elected by the reporting person in accordance with the company's Deferred Compensation Plan for Directors.

Industry Context

StockSavvy.ai notes that insider transactions, such as the acquisition of phantom stock by a director, are common in the paper and packaging industry as a method of director compensation and alignment with shareholder interests.

Related Party Transactions

• Acquisition of phantom stock units by Director Jeanne M. Hillman under the Clearwater Paper Corporation Deferred Compensation Plan for Directors.

Stakeholder Impact

• Shareholders: The transaction reflects a standard compensation practice for directors, aligning their interests with the company's performance through equity-based incentives.

Next Steps

• Phantom stock units will be converted to cash and paid on a date previously elected by the reporting person.

Key Dates

Keywords

Clearwater Paper Corp, CLW, Form 4, SEC Filing, Director, Phantom Stock Units, Deferred Compensation Plan, Beneficial Ownership, Insider Transaction