PALUMBO LISA M 4

What Happened

• Lisa M. Palumbo, a director of Rayonier Advanced Materials, converted/exercised derivative awards and immediately disposed of 16,429 shares on 2026-05-14. The filing shows $0.00 per share for the exercise/conversion and the disposition (reported value $0).
• In a separate entry, Palumbo was granted 12,106 restricted stock units (RSUs) on 2026-05-13; each RSU represents a contingent right to receive one share upon vesting (footnote F1). The filing lists the RSU grant as an acquisition (code A) at $0.00.

Key Details

• Transaction dates and codes: 2026-05-13 – Grant/Award of 12,106 RSUs (A); 2026-05-14 – Exercise/conversion of derivative for 16,429 shares (M) and same-day disposition of 16,429 shares (M). Reported per-share price: $0.00 for all entries.
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Footnote: F1 — Each restricted stock unit equals a contingent right to one share of RYAM common stock.
• Filing/timeliness: Form 4 was filed on 2026-05-15 for transactions reported through 2026-05-13; this appears to be timely (Form 4 is generally due within two business days).

Context

• The pattern here—conversion/exercise followed immediately by a same-day disposition—typically reflects an immediate sale or cashless conversion of derivative awards rather than an open-market investment decision. RSU grants are awards that vest over time and do not, by themselves, signal buying or selling intent.
• No indication in this filing that Ms. Palumbo is a 10% owner; these are director-level transactions.