BEGEMANN BRETT D 4

What Happened
Brett D. Begemann, a director of Eastman Chemical Company (EMN), was granted 1,628 phantom stock units on May 7, 2026. The units were recorded at $73.69 each for a total value of $119,967. These are derivative, cash‑settled awards (not actual shares).

Key Details

• Transaction type: Award/Grant (derivative phantom stock units) — code A
• Date of grant: May 7, 2026; Form 4 filed May 11, 2026 (see note below on timing)
• Units/amount: 1,628 phantom stock units valued at $73.69/unit; total $119,967
• Vesting/payment: Footnote F1 — units vest on May 7, 2027 and are payable only in cash (no stock delivery)
• Deferral: Footnote F2 — part of this reflects a director election to defer the value of an annual restricted stock award into the deferred compensation plan
• Shares owned after transaction: Not disclosed in the provided data; filing does not show issuance of actual common shares

Context
Phantom stock units are a form of deferred, cash‑settled compensation that track the value of common stock but do not confer voting rights or actual share ownership until paid in cash. This grant is routine director compensation and should be viewed as an award/deferral rather than an outright purchase or sale of company stock. The Form 4 was filed four days after the reported transaction (May 7 → May 11); Form 4s are typically required within two business days, so review the filing for any tardiness explanation.