Form 4: Eastman Chemical Co: Executive Officer Stephen Glenn Crawford Reports Changes in Beneficial Ownership

Stephen Glenn Crawford, an Executive Vice President at Eastman Chemical Co, reports changes in his beneficial ownership of company stock due to the payout of performance shares and subsequent tax liability.

Summary

• On February 18, 2025, Stephen Glenn Crawford, an EVP at Eastman Chemical Co, reported changes in his beneficial ownership of Eastman Chemical Co [EMN] stock.
• These changes are due to the payout of performance shares awarded at the beginning of a three-year performance period (2022-2024).
• Mr. Crawford acquired 16,810 shares of common stock as a result of the performance share payout.
• 5,185 shares were withheld to cover the tax liability associated with the payout, at a price of $103.47 per share.
• Following these transactions, Mr. Crawford directly owns 58,912 shares of common stock.
• He also indirectly owns shares through an ESOP (866 shares), a 401(k) plan (437 shares), his spouse's ESOP (282 shares), and his spouse's 401(k) plan (61 shares).

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation. The vesting of performance shares is generally a positive sign, but the tax withholding is a standard procedure.

Positives

• The payout of performance shares suggests that the company met certain performance targets during the 2022-2024 period, which could be viewed positively.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. This filing indicates the vesting of performance-based equity awards, which are a common component of executive compensation packages in publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages at companies like Dow, BASF, and LyondellBasell often include performance-based equity awards.
• The vesting of these awards is typically tied to the achievement of specific financial or operational targets over a multi-year period.
• Form 4 filings for executives at these companies would show similar transactions when performance shares vest and are either sold or held.

Stakeholder Impact

• The vesting of performance shares can be seen as a positive signal to shareholders, indicating that management has met certain performance goals.
• The tax withholding has no material impact on other stakeholders.

Key Dates