Form 4: Eastman Chemical Co Director Kim Ann Mink Reports Acquisition of Phantom Stock Units

Director Kim Ann Mink reports acquisition of phantom stock units in Eastman Chemical Co through a directors' deferred compensation plan.

Summary

• Kim Ann Mink, a director of Eastman Chemical Co, reported a transaction on April 5, 2024.
• The transaction involved the acquisition of 303 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 acquisition resulted in Ms. Mink holding 10,230 derivative securities beneficially owned following the reported transaction.
• This amount includes 162 units credited since October 6, 2023, as hypothetical reinvestment of dividend equivalents.
• The phantom stock units were acquired through automatic deferral of a portion of the director's annual retainer fees.

Sentiment

Score: 7

Explanation: The document reflects standard director compensation practices, indicating stable corporate governance. The acquisition of phantom stock units is a neutral event, suggesting alignment of director interests with shareholder value.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

This filing reflects standard compensation practices for directors, often involving deferred compensation plans and phantom stock units to align director interests with shareholder value.

Stakeholder Impact

• The transaction aligns the director's interests with those of the shareholders, as the value of the phantom stock units is tied to the company's stock performance.

Key Dates