Form 4: Carlson Capital Sells 320,691 Shares of Glatfelter Corp (GLT)

Carlson Capital, L.P. and related entities disposed of 320,691 shares of Glatfelter Corp (GLT) at a price of $1.74 per share on September 25, 2024.

Summary

• On September 25, 2024, Double Black Diamond Offshore Ltd., sold 320,691 shares of Glatfelter Corp (GLT) common stock.
• The sale price was $1.74 per share.
• Following the transaction, the Funds (Double Black Diamond Offshore Ltd. and Black Diamond Offshore Ltd.) beneficially own 4,335,000 shares.
• Carlson Capital, L.P. serves as the investment manager to the Funds and has the power to direct their affairs.
• Asgard Investment Corp. II serves as the general partner of Carlson Capital.
• Clint D. Carlson serves as the president of Asgard II and has the power to direct the affairs of Asgard II and Carlson Capital.
• Each reporting person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative. It reflects a large shareholder reducing their position, which could be interpreted negatively by the market, but the filing itself is simply a factual disclosure.

Negatives

• Carlson Capital, L.P. reduced its holdings in Glatfelter Corp.

Risks

• The sale of shares by a significant shareholder could potentially exert downward pressure on the stock price.

Management Comments

• Each of the reporting persons disclaims beneficial ownership of the securities to which this Form 4 relates for the purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, except as to such extent of the reporting person's pecuniary interest in the securities.

Industry Context

Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of significant shareholders and insiders.

Stakeholder Impact

• The sale of shares could potentially impact shareholder value.

Key Dates