Duffy Kenneth James 4

What Happened

• Kenneth J. Duffy, Senior Vice President, Paperboard (Rayonier Advanced Materials, RYAM), converted 8,940 restricted stock units (RSUs) into common shares on 2026-03-01. Of those, 4,739 shares were withheld to satisfy tax withholding at $9.47 per share (value reported $44,878). Net delivered shares from the conversion were 4,201. On the same date he was also granted 6,336 RSUs (derivative award) under the company plan.
• This was not an open-market sale by the insider; the 4,739-share disposition reflects tax withholding in connection with the RSU conversion (routine administrative action).

Key Details

• Transaction date: 2026-03-01; Form 4 filed: 2026-03-03 (timely filing).
• Conversion: 8,940 RSUs converted to common stock (code M, conversion price $0.00 per share).
• Tax withholding: 4,739 shares withheld/disposed (code F) at $9.47 per share = $44,878.
• Grant: 6,336 RSUs awarded (code A) at $0.00 (derivative award).
• Footnotes: RSUs convert 1:1 into common shares; conversion required no cash payment (per filing).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context

• RSU conversions with share-withholding for taxes are a common, administrative occurrence (a cashless settlement) and do not necessarily indicate a purchase or sale decision by the insider.
• The 6,336 RSUs are an award (derivative) and typically vest later before converting to shares; they are not immediately marketable common stock.