Form 4: Clearwater Paper Director Receives Equity Award
Statement of Changes in Beneficial Ownership
Director John J. Corkrean was granted 8,391.608 phantom stock units as part of an annual compensation award.
Summary
- Director John J. Corkrean acquired 8,391.608 phantom stock units on May 8, 2026.
- The units were granted under the Clearwater Paper Corporation Deferred Compensation Plan for Directors.
- The award represents compensation for service from May 1, 2026, through April 30, 2027.
- The units are valued at $14.30 per unit and will vest on May 1, 2027.
- Following this transaction, the director holds a total of 35,818.273 phantom stock units.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral, routine administrative filing regarding director compensation with no impact on company operations or financial strategy.
Positives
- Director alignment with company performance through equity-based compensation.
- Standardized deferred compensation structure for board members.
Negatives
- None identified; this is a routine compensatory transaction.
Risks
- Value of phantom stock is tied to the future performance of Clearwater Paper common stock.
- Liquidity of the award is deferred until termination of service.
Future Outlook
The phantom stock units will vest on May 1, 2027, and will be converted to cash upon the director's termination of service.
Industry Context
StockSavvy.ai notes that this is a standard corporate governance practice where directors receive equity-linked compensation to ensure long-term alignment with shareholder interests in the paper and packaging sector.
Comparison to Industry Standards
- The use of phantom stock plans for directors is a common practice among mid-cap industrial companies to preserve cash while incentivizing board members.
- The vesting schedule and deferred compensation structure align with typical corporate governance standards for U.S. publicly traded companies.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Director Compensation | Annual equity award grant under the Deferred Compensation Plan for Directors. | 2026-05-08 | Standard alignment of director interests with shareholders. |
Stakeholder Impact
- Minimal impact on shareholders as this is a standard compensatory award.
Next Steps
- Vesting of the phantom stock units on May 1, 2027.
Key Dates
| Date | Description |
|---|---|
| 2026-05-01 | Start of service period for the annual award grant. |
| 2026-05-08 | Transaction date of the phantom stock unit grant. |
| 2026-05-12 | Filing date of the Form 4. |
| 2027-04-30 | End of service period for the annual award grant. |
| 2027-05-01 | Vesting date for the phantom stock units. |
Keywords
Clearwater Paper, CLW, Form 4, Director Compensation, Phantom Stock, Insider Trading
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