HORNBAKER RENEE J 4

What Happened Renee J. Hornbaker, a director of Eastman Chemical Company (EMN), was credited with 408 Phantom Stock Units on 2026-04-08 as an award/accrual under the company’s Directors' Deferred Compensation Plan. The Form 4 reports the acquisition price as $0.00 because these are derivative, cash‑settled units rather than direct stock shares; each unit tracks the market value of one share and will be paid in cash after Hornbaker’s service as a director ends. This is a routine compensation deferral rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-04-08; Report filed: 2026-04-10 (filed within the standard two-business-day Form 4 window).
• Reported units: 408 Phantom Stock Units; reported acquisition price: $0.00 (derivative units).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes: F1 = units are phantom stock units payable in cash after termination and valued equal to one common share; F2 = units reflect automatic deferral of director retainer fees; F3 = includes dividend equivalents reinvested as additional units.
• Transaction code: A (award/other acquisition of derivative units).

Context Phantom Stock Units are cash‑settled compensation tied to the company’s stock price and do not represent immediate transfer of shares or voting rights. Such awards are common for non-employee directors as part of deferred compensation programs and do not, by themselves, indicate a purchase-driven bullish signal or immediate selling pressure.