Vickers Tucker Christine M. 4

What Happened
Christine M. Vickers, a director of Clearwater Paper Corporation (CLW), was granted 8,391.608 phantom stock units on May 8, 2026. The filing values the award at $14.30 per share for a total grant value of $120,000. This transaction is an award/grant (code A) of derivative phantom units as part of the company’s director deferred compensation program — not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-08; Filing date (Form 4): 2026-05-12. The filing appears to be late (Form 4s are typically due within two business days of the transaction).
• Award: 8,391.608 phantom stock units at $14.30/share; total reported value $120,000.
• Shares owned after transaction: not specified in the filing.
• Footnotes from the filing:
  • F1: Units credited under the Clearwater Paper Deferred Compensation Plan for Directors and will be converted to cash and paid on a 1-for-1 basis with the issuer’s common stock.
  • F2: Units will be converted to cash and paid upon the reporting person’s termination from service per the plan.
  • F3: These units represent the annual award for service from May 1, 2026 through April 30, 2027 and will vest May 1, 2027.
• Transaction type: Derivative award (phantom units), code A.

Context
This was a routine director compensation award (deferred/phantom stock units) rather than a purchase of common shares. Phantom units are a deferred cash payout tied to the company’s stock value and typically reflect compensation policy rather than an immediate insider view on the stock. The units vest on May 1, 2027 and will convert to cash (1-for-1 with common stock) under the plan’s payout terms.