Form 4: Clearwater Paper Corp Executive Sells Shares to Cover Tax Obligations

Michael S. Gadd, SVP, GC, and Corporate Secretary of Clearwater Paper Corp, sold 531 shares of common stock on March 3, 2025, to cover tax withholding requirements related to the vesting of restricted stock units.

Summary

• On March 3, 2025, Michael S. Gadd, the SVP, GC, and Corporate Secretary of Clearwater Paper Corp, disposed of 531 shares of common stock.
• The shares were sold at a price of $26.15 per share.
• This transaction was to cover tax withholding requirements due at the settlement of the 2022 grant of restricted stock units that vested on March 3, 2025.
• Following the transaction, Gadd directly owns 95,370 shares of Clearwater Paper Corp common stock.
• Gadd also indirectly owns 28 shares of common stock through a 401(k).

Sentiment

Score: 5

Explanation: This is a neutral event. An executive selling shares to cover taxes is a normal part of compensation.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is a common occurrence where executives sell shares to cover tax obligations arising from the vesting of stock awards.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.

Key Dates