Form 4: Eastman Chemical Co. Director Humberto P. Alfonso Reports Changes in Beneficial Ownership
SEC Form 4
Director Humberto P. Alfonso reports acquisition of phantom stock units through deferral of director's fees, increasing his holdings in Eastman Chemical Co.
Summary
- On April 7, 2025, Humberto P. Alfonso, a director of Eastman Chemical Co., acquired 996 phantom stock units at $73.65 and 412 phantom stock units at $0 through the Directors' Deferred Compensation Plan.
- These acquisitions were due to the voluntary and automatic deferral of director's retainer fees.
- Following these transactions, Alfonso's direct ownership includes 49,190 phantom stock units, inclusive of reinvested dividend equivalents.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction indicating confidence from a director, suggesting a moderately positive sentiment.
Positives
- The director's increased holdings demonstrate confidence in the company's future performance.
- The use of the Directors' Deferred Compensation Plan allows for tax-efficient accumulation of company stock.
Future Outlook
The document does not contain explicit forward-looking statements, but the director's continued investment suggests a positive outlook.
Industry Context
Directors' deferred compensation plans are a common practice in publicly traded companies, allowing executives to align their interests with those of shareholders.
Comparison to Industry Standards
- Director compensation structures vary across the chemical industry, but deferred stock compensation is a typical component.
- Companies like Dow and BASF also utilize similar deferred compensation plans for their executives and directors.
Related Party Transactions
- The deferral of director's fees into phantom stock units constitutes a related party transaction.
Stakeholder Impact
- The director's increased stake could reassure shareholders about the company's direction.
Key Dates
| Date | Description |
|---|---|
| October 7, 2024 | Date from which 1,366 units were credited as hypothetical reinvestment of dividend equivalents. |
| April 7, 2025 | Date of transaction: acquisition of 996 and 412 phantom stock units. |
| April 9, 2025 | Date of report submission. |
Keywords
Eastman Chemical Co, Director, Humberto P. Alfonso, Phantom Stock Units, Beneficial Ownership, Deferred Compensation Plan, Director's Fees, EMN
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