SCHEDULE: BlackRock Amends Eastman Chemical Stake to 11.9%
Schedule 13G Amendment
BlackRock, Inc. has filed an amended Schedule 13G, disclosing a beneficial ownership of 11.9% in Eastman Chemical Co.
Summary
- BlackRock, Inc. beneficially owns 13,598,433 shares of Eastman Chemical Co. common stock.
- This ownership represents 11.9% of the total outstanding common stock of Eastman Chemical Co.
- BlackRock, Inc. holds sole voting power over 13,254,753 shares.
- BlackRock, Inc. holds sole dispositive power over 13,598,433 shares.
- No shared voting or dispositive power is reported.
- iShares Core S&P Small-Cap ETF, a BlackRock entity, holds more than 5% of Eastman Chemical Co. common stock.
- BlackRock Fund Advisors, another BlackRock entity, also beneficially owns 5% or greater of the outstanding shares.
Sentiment
Score: 5
Explanation: The filing is a routine disclosure of institutional ownership, indicating a neutral sentiment regarding the issuer's operational performance or strategic direction. It simply updates BlackRock's passive stake.
Positives
- NA
Negatives
- NA
Risks
- NA
Future Outlook
NA
Industry Context
NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact for SEC filings | Previous individuals under the April 30, 2023 Power of Attorney | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 01/21/2025 | Execution of a new Power of Attorney, revoking the prior one, to update authorized signatories for SEC and other regulatory filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. executed a new Power of Attorney, effective January 21, 2025, which revokes the previous one dated April 30, 2023. This document designates specific individuals as attorneys-in-fact to execute and file various ownership and control-person reporting requirements. | 01/21/2025 | This update streamlines BlackRock's internal process for compliance with regulatory reporting requirements by updating the list of authorized signatories. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's passive stake in Eastman Chemical Co.
Key Dates
| Date | Description |
|---|---|
| 04/30/2023 | Previous Power of Attorney revoked by BlackRock, Inc. |
| 01/21/2025 | New Power of Attorney executed by BlackRock, Inc. for SEC filings. |
| 11/30/2025 | Date of event which required the filing of this Schedule 13G statement. |
| 12/04/2025 | Date BlackRock, Inc. signed the Schedule 13G filing. |
Keywords
BlackRock, Eastman Chemical Co, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Investment Management, Passive Investment
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