Audia Damon J 4

What Happened

• Damon J. Audia, a director of Eastman Chemical Co. (EMN), was credited with a total of 1,260 phantom stock units under the company's Directors' Deferred Compensation Plan on 2026-04-08. The filing shows 852 units recorded at $74.72 each (total value $63,661) and 408 units reported at $0.00 (derivative credits from deferred retainer).
• These were awards/credits (Form 4 code A) of derivative units, not open-market stock purchases or sales. Phantom stock units are cash-settled and payable only after the director leaves board service, so this is an award rather than a cash investment or sale.

Key Details

• Transaction date: 2026-04-08; Form 4 filed: 2026-04-10 (timely filing).
• Units credited: 852 units @ $74.72 (value $63,661) + 408 units @ $0.00; total units = 1,260.
• Transaction type: Award/Grant of derivative units (phantom stock) under Directors' Deferred Compensation Plan (code A).
• Shares/units outstanding after transaction: Not disclosed in the provided filing summary.
• Relevant footnotes from the filing:
  • F1: Phantom Stock Units equal in value to one share and payable in cash after termination of director service.
  • F2: 408 units reflect voluntary deferral of retainer fees that otherwise would have been paid in cash.
  • F3: Dividend equivalents are reinvested into additional Phantom Stock Units.
  • F4: Some units reflect automatic deferral of part of the annual retainer into the plan.

Context

• Phantom stock units are cash-settled derivatives; they do not represent immediate receipt of tradable shares. Payment occurs after director service ends, so these credits don't directly increase share ownership or trigger a stock sale.
• Awards and deferred-compensation credits are common for directors and are routine compensation items; they should not be read as an immediate buy/sell signal by themselves.