Form 4: Clearwater Paper Director Receives Phantom Stock Award
Director Compensation Disclosure
Director Alexander Toeldte was granted 8,391.608 phantom stock units as part of an annual compensation award.
Summary
- Director Alexander Toeldte 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.
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 health.
Positives
- Director alignment with company performance through equity-based compensation.
- Standardized deferred compensation structure for board members.
Negatives
- None identified; this is a routine compensation disclosure.
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.
Management Comments
- The phantom stock units are credited to the reporting person's account in accordance with the Deferred Compensation Plan for Directors.
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.
Comparison to Industry Standards
- The use of phantom stock plans for directors is a common practice among mid-cap industrial and paper companies to defer compensation and maintain cash flow.
- The grant structure aligns with typical annual director compensation cycles observed in the paper and packaging sector.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Compensation Grant | Annual phantom stock award grant for director service. | 05/08/2026 | Minimal; standard alignment of director interests. |
Stakeholder Impact
- Shareholders: No immediate impact; reflects standard board compensation practices.
Next Steps
- Vesting of phantom stock units on May 1, 2027.
Key Dates
| Date | Description |
|---|---|
| 05/01/2026 | Start of service period for the annual award grant. |
| 05/08/2026 | Transaction date of the phantom stock grant. |
| 04/30/2027 | End of service period for the annual award grant. |
| 05/01/2027 | Vesting date for the phantom stock units. |
Keywords
Clearwater Paper, CLW, Form 4, Director Compensation, Phantom Stock, Insider Transaction
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