Form 4: Eastman Chemical Co. Director Eric L. Butler Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Director Eric L. Butler reports acquisition of phantom stock units and deferral of retainer fees into Eastman Chemical Co. stock account.
Summary
- On April 7, 2025, Eric L. Butler, a director of Eastman Chemical Co., acquired 412 phantom stock units under the Directors' Deferred Compensation Plan.
- These units are payable in cash after termination of service as a director and have a value equal to the market value of one share of Eastman Chemical Co. common stock.
- The transaction also includes 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 transaction, Butler beneficially owns 2,228 derivative securities, which includes 54 units credited since October 7, 2024, as hypothetical reinvestment of dividend equivalents.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and alignment of director interests with shareholders.
Positives
- The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
- The Directors' Deferred Compensation Plan allows directors to defer compensation, potentially offering tax advantages.
Future Outlook
The document does not contain specific forward-looking statements regarding the company's future performance.
Industry Context
This filing is a routine disclosure of insider transactions, which is common for 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
| Date | Description |
|---|---|
| 10/07/2024 | Date from which 54 units were credited as hypothetical reinvestment of dividend equivalents. |
| 04/07/2025 | Date of the transaction involving the acquisition of phantom stock units. |
| 04/09/2025 | Date of signature for the report. |
Keywords
Form 4, Director, Eric L. Butler, Eastman Chemical Co., Phantom Stock Units, Directors' Deferred Compensation Plan, Beneficial Ownership, EMN
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