Bowden Steve M 4

What Happened
Steve M. Bowden, Senior Vice President of Clearwater Paper Corp. (CLW), was granted 13,278 restricted stock units (RSUs) on February 26, 2026. The award was granted at $0.00 per share (award/ acquisition code "A"), so no cash was paid; the RSUs will settle one-for-one into shares of common stock upon vesting.

Key Details

• Transaction date and type: 2026-02-26 — Grant/Award (Code A). Grant price reported as $0.00; total cash value on grant = $0.
• Award size: 13,278 RSUs.
• Shares owned after transaction: Not specified in the filing.
• Vesting and dividend treatment (from filing footnotes): RSUs settle one-for-one for common shares (F1). Vesting is 33% on March 15, 2027; 33% on March 15, 2028; and 34% on March 15, 2029, assuming continued employment. Dividend equivalents will be converted into additional RSUs during the vesting period (F2).
• Filing: Form 4 filed on 2026-03-02 (timely relative to the Feb 26, 2026 transaction).

Context
This was a compensation award of RSUs, not an open-market purchase or sale. RSUs are restricted and generally vest over time; they do not represent immediate stock sales or purchases. Such grants are common executive compensation and should be interpreted as part of pay, not a direct buy/sell signal.