Form 4: Clearwater Paper Corp: Executive Gadd Michael S. Reports Tax Withholding and 401(k) Transaction

Michael S. Gadd, SVP, GC, and Corp Secretary of Clearwater Paper Corp, reports shares withheld for tax obligations and a non-reportable 401(k) transaction.

Summary

• This Form 4 filing details changes in beneficial ownership for Michael S. Gadd, an officer of Clearwater Paper Corp.
• On March 15, 2024, 719 shares of common stock were disposed of to satisfy tax withholding requirements at a price of $40.76 per share.
• The shares were related to the settlement of restricted stock units that vested on the same date.
• Mr. Gadd's 401(k) shares were also reduced due to a non-reportable transaction.
• Following these transactions, Mr. Gadd directly owns 76,509 shares of Clearwater Paper Corp common stock and indirectly owns 28 shares through his 401(k).

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing standard transactions related to executive compensation and 401(k) activity, indicating a neutral sentiment.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track changes in ownership and potential alignment of interests.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they relate to standard executive compensation practices.

Key Dates