Form 4: Clearwater Paper Executive Sells Shares for Tax

Clearwater Paper's SVP, General Counsel, and Corporate Secretary, Marc D. Rome, disposed of 81 shares of common stock to cover tax obligations related to vested restricted stock units.

Summary

• Marc D. Rome, SVP, General Counsel & Corporate Secretary of Clearwater Paper Corp (CLW), reported a transaction on January 15, 2026.
• The transaction involved the disposition of 81 shares of Common Stock.
• The shares were disposed of at a price of $20.33 per share.
• This disposition was made to satisfy tax withholding requirements due at the settlement of a 2024 grant of restricted stock units (RSUs) that vested on January 15, 2026.
• Following this transaction, Marc D. Rome beneficially owns 8,326 shares of Common Stock directly.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary disposition of shares for tax withholding purposes, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or outlook.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Industry Context

This is a routine insider transaction related to executive compensation and tax obligations, which is common across all publicly traded companies when restricted stock units vest. It does not reflect broader industry trends or competitive positioning.

Comparison to Industry Standards

• The practice of withholding shares to cover tax obligations upon the vesting of restricted stock units is a standard and common procedure for executive compensation plans across various industries, including the paper and packaging sector where Clearwater Paper operates.
• The transaction volume of 81 shares is relatively small and typical for tax-related dispositions, not indicative of a significant change in insider sentiment or company performance compared to peers.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, small-scale transaction for tax purposes, not a discretionary sale or purchase.

Key Dates

Keywords

Clearwater Paper, CLW, Form 4, Insider Transaction, Stock Sale, Tax Withholding, Restricted Stock Units, Executive Compensation