Form 4: Eastman Chemical Co. Director David W. Raisbeck Reports Acquisition of Phantom Stock Units

Director David W. Raisbeck reports the acquisition of phantom stock units and deferral of retainer fees into Eastman Chemical Co. stock account.

Summary

• David W. Raisbeck, a director at Eastman Chemical Co. [EMN], filed a Form 4 on April 9, 2025, reporting changes in beneficial ownership.
• The report details the acquisition of 412 phantom stock units on April 7, 2025, under the Directors' Deferred Compensation Plan.
• These units are valued equal to 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 report also indicates the automatic deferral of a portion of the director's annual retainer fees into the director's stock account of the Directors' Deferred Compensation Plan.
• Following the reported transactions, Raisbeck beneficially owns 53,627 shares of common stock, which includes 1,561 units credited since October 7, 2024, as hypothetical reinvestment of dividend equivalents.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director is increasing their stake in the company, which is generally a good sign. However, it's a routine transaction.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferral of retainer fees into stock demonstrates a commitment to the company's equity.

Future Outlook

NA

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates director Raisbeck's continued investment in Eastman Chemical Co.

Comparison to Industry Standards

• Director compensation packages often include stock and option awards to align management interests with shareholder value, which is a common practice among publicly traded companies like Eastman Chemical Co.
• Deferred compensation plans are also a standard tool used by companies such as Dow and DuPont to attract and retain key personnel.

Stakeholder Impact

• The director's increased stake could be viewed positively by shareholders, signaling confidence in the company's future.

Key Dates

Keywords

Form 4, Director, Phantom Stock Units, Beneficial Ownership, Eastman Chemical Co., Deferred Compensation Plan, EMN