Corkrean John J 4

What Happened
John J. Corkrean, a director of Clearwater Paper Corporation (CLW), was granted 8,391.608 phantom stock units on 2026-05-08. The units are reported at $14.30 each for a total grant value of $120,000. This was an award/grant (derivative) under the company’s director deferred compensation plan, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-08; Form 4 filed: 2026-05-12 (filed within the normal 2-business-day reporting window).
• Grant: 8,391.608 phantom stock units at $14.30 per unit — total reported value $120,000. (Transaction code A = Award/Grant)
• Shares owned after transaction: not specified in the filing.
• Footnotes:
  • F1: Phantom units credited on the transaction date and will be converted to cash and paid 1-for-1 with the issuer’s common stock value.
  • F2: Payment of the phantom units is made upon the reporting person’s termination of service per the Deferred Compensation Plan.
  • F3: These units represent the annual director award covering service May 1, 2026–April 30, 2027 and will vest on May 1, 2027.

Context
Phantom stock units are a form of deferred cash compensation tied to the company’s share value; they do not transfer actual stock immediately. Because the award vests in one year and pays out in cash (1-for-1 with the stock price) upon termination, this is a compensation/retention event rather than an appetite-driven purchase or sale of shares.