Form 4: Eastman Chemical Co Director Charles K. Stevens III Reports Acquisition of Phantom Stock Units

Director Charles K. Stevens III reports acquiring phantom stock units through a director's deferred compensation plan.

Summary

• Charles K. Stevens III, a director at Eastman Chemical Co, filed a Form 4 indicating changes in beneficial ownership.
• The report details the acquisition of 303 phantom stock units on April 5, 2024, under the Directors' Deferred Compensation Plan.
• These units are valued at the market value of one share of Eastman Chemical Co common stock and are payable in cash after termination of service as a director.
• The acquisition results from the automatic deferral of a portion of the director's annual retainer fees.
• Following the reported transaction, Stevens directly owns 3,526 derivative securities, which includes 61 units credited since October 6, 2023, as hypothetical reinvestment of dividend equivalents.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an insider transaction. It doesn't inherently convey positive or negative sentiment.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors and their alignment with shareholder interests.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and alignment of interests.

Key Dates