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

Jeanne M. Hillman, a director of Clearwater Paper Corp, reported the acquisition of phantom stock units related to the company's Deferred Compensation Plan for Directors.

Summary

• On May 9, 2025, Jeanne M. Hillman, a director of Clearwater Paper Corp, acquired 4,743.083 units of phantom common stock at a price of $25.3.
• These phantom stock units are credited to Hillman's account under the Clearwater Paper Corporation Deferred Compensation Plan for Directors.
• The units will be converted to cash on a 1-for-1 basis with the issuer's common stock upon termination of service with Clearwater Paper.
• 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.
• Following the transaction, Hillman's beneficial ownership includes 12,932.948 phantom stock units.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing indicating standard compensation practices. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock aligns the director's interests with the long-term performance of the company.
• The Deferred Compensation Plan for Directors is a common practice to retain and incentivize board members.

Future Outlook

The phantom stock units will be converted to cash 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

Reporting of beneficial ownership changes by company insiders is a standard practice and provides transparency to investors. Phantom stock is a common form of deferred compensation used by companies to align the interests of directors and executives with shareholders.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock awards, are commonly used by publicly traded companies like Clearwater Paper Corp to attract and retain qualified directors.
• Companies such as International Paper (IP) and WestRock (WRK) also utilize similar compensation strategies to align director and executive incentives with shareholder value.
• The vesting schedules and payout terms described in the document are typical for these types of plans.

Stakeholder Impact

• The acquisition of phantom stock by a director aligns their interests with shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates

Keywords

phantom stock, Clearwater Paper Corp, director, Form 4, Deferred Compensation Plan, beneficial ownership, CLW, Hillman