Form 4: Clearwater Paper Corp Director John J Corkrean Reports Phantom Stock Transaction

Director John J Corkrean reports acquisition of phantom stock units in Clearwater Paper Corp's Deferred Compensation Plan for Directors.

Summary

• On May 10, 2024, John J Corkrean, a director of Clearwater Paper Corp, reported a transaction involving phantom stock.
• Corkrean acquired 2,787.456 phantom stock units at a price of $43.05 per unit.
• These units are part of the Clearwater Paper Corporation Deferred Compensation Plan for Directors.
• Following the transaction, Corkrean beneficially owns 22,683.582 phantom stock units.
• The phantom stock units represent an annual award grant for service from May 1, 2024, through April 30, 2025, and will vest on May 1, 2025.
• The phantom stock units will be converted to cash upon Corkrean's termination from service with Clearwater Paper.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and has a neutral sentiment.

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.

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

Form 4 filings are standard practice for reporting insider transactions and provide transparency to investors regarding the actions of company directors and officers.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies to attract and retain qualified directors.
• The vesting schedule and payout terms are typical for such plans.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency regarding director compensation.

Key Dates