Osborne Michael D 4

What Happened
Michael D. Osborne, Vice President, Manufacturing at Rayonier Advanced Materials (RYAM), converted 12,515 restricted stock units (RSUs) into common shares on 2026-03-01. No cash was paid on conversion (conversion price $0.00). To satisfy tax withholding, 3,665 shares were surrendered/disposed at $9.47 per share for a total withholding value of $34,708. On the same date he also received/was granted 15,840 RSUs (derivative award).

Key Details

• Transaction date: 2026-03-01; Form 4 filed 2026-03-03 (appears timely).
• Conversion: 12,515 RSUs converted to common stock (conversion price reported $0.00).
• Tax withholding: 3,665 shares withheld/disposed at $9.47/share for $34,708 (code F).
• Grant: 15,840 RSUs awarded (code A) — these are derivative RSU awards, each representing a contingent right to one share.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — conversion of RSUs into common stock at $0.00/per share; F2 — each RSU equals one share.

Context
This was a routine RSU vesting/conversion event with shares withheld to cover taxes (a common administrative action), not a market purchase or discretionary sale for investment reasons. The filing shows both the conversion of vested RSUs into shares and a new RSU grant; these derivative entries represent equity compensation mechanics rather than open-market trading.