McLain William Thomas Jr. 4

What Happened
William McLain, EVP & CFO of Eastman Chemical, exercised stock options on Feb 4, 2026 to acquire 3,013 shares (exercise price basis shown as $65.16/share; total $196,327). To satisfy the exercise price and tax withholding, 2,636 of the newly issued shares were withheld by the company at a reported value of $78.49/share (value reported $206,900). After the net settlement, McLain retained 377 shares (3,013 exercised − 2,636 withheld), worth roughly $29.6k based on the $78.49/share figure.

Key Details

• Transaction date: 2026-02-04. Form filed: 2026-02-06 (appears filed within the typical two-business-day window).
• Option exercise (code M): 3,013 shares @ $65.16 = $196,327 (acquired).
• Withholding/tax settlement (code F): 2,636 shares @ $78.49 = $206,900 (withheld/disposed to cover exercise price & taxes).
• Net retained shares: 377. (Total post-transaction ownership not provided in the supplied data.)
• Footnotes: F1/F2 indicate this was a net exercise — shares were withheld by Eastman to cover exercise price and tax withholding; the withholding is not a separate market sale by McLain.

Context
This was a standard option exercise with net settlement (sometimes called a cashless or net exercise): McLain exercised underlying options and elected to have enough shares withheld to cover costs and tax obligations, retaining the remainder. The Form 4 shows both the exercise (M) and the withholding (F); the $0.00 derivative disposition line is a reporting artifact reflecting conversion. Net exercises like this are common and do not necessarily signal a change in insider sentiment.