Form 4: Clearwater Paper Corp Director John J Corkrean Reports Acquisition and Disposal of Phantom Stock Units

Director John J Corkrean reports changes in beneficial ownership of Clearwater Paper Corp phantom stock units, including acquisition and disposal related to deferred compensation plan.

Summary

• On May 9, 2025, John J Corkrean, a director of Clearwater Paper Corp, reported transactions involving phantom stock units.
• Corkrean acquired 4,743.083 phantom stock units at a price of $25.3.
• Simultaneously, Corkrean disposed of 4,743.083 phantom stock units at $25.3.
• Following these transactions, Corkrean's beneficial ownership includes 27,426.665 phantom stock units.
• These phantom stock units are part of the Clearwater Paper Corporation Deferred Compensation Plan for Directors and will be converted to cash upon termination of service.
• The phantom stock allocations represent an annual award grant for service from May 1, 2025 through April 30, 2026, and will vest on May 1, 2026.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices. The sentiment is neutral to slightly positive as it indicates alignment of director interests with company performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan provides a mechanism for retaining directors and incentivizing their continued service.

Future Outlook

The phantom stock units will be converted to cash and paid upon the reporting person's termination from service with Clearwater Paper in accordance with the provisions of the Clearwater Paper Corporation Deferred Compensation Plan for Directors.

Industry Context

This filing is a routine disclosure related to executive compensation and is common among publicly traded companies. It reflects the company's approach to incentivizing and retaining its directors through equity-based compensation.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies to align the interests of directors and executives with shareholders.
• Companies like International Paper (IP) and Domtar (UFS) also utilize similar equity-based compensation plans for their directors.
• The specific terms and conditions of these plans, such as vesting schedules and payout mechanisms, can vary depending on the company's compensation philosophy and governance practices.

Stakeholder Impact

• Shareholders may view the equity-based compensation as a positive sign, aligning director interests with long-term company performance.
• Employees may see this as a standard practice for executive compensation.

Key Dates

Keywords

phantom stock, Clearwater Paper Corp, director, beneficial ownership, deferred compensation, Form 4, Corkrean, CLW