Clearwater Paper CEO granted 9,154 RSUs

Clearwater Paper Corp President and CEO Arsen S. Kitch received an equity award of 9,154 restricted stock units (RSUs) of common stock.

Rhea-AI Filing Summary

Clearwater Paper Corp President and CEO Arsen S. Kitch received an equity award of 9,154 restricted stock units (RSUs) of common stock. The RSUs are a form of stock-based compensation and are not an open-market purchase or sale.

The RSUs will vest in three tranches of 33%, 33% and 34% on March 15, 2027, 2028 and 2029, assuming continued employment. During the vesting period, dividend equivalents on these RSUs will be converted into additional RSUs. After this grant, Kitch directly holds 403,029 shares of Clearwater Paper common stock.

Insider Trade Summary

Grant/Award: 9,154 shares

Grant/Award 1 txn

Insider Kitch Arsen S.

Role President, CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	9,154	$14.83	$136K

Holdings After Transaction: Common Stock — 403,029 shares (Direct)

Footnotes (2)

1. F1. Represents award of restricted stock units ("RSUs"). RSUs may be settled only for shares of common stock on a one-for-one basis.
2. F2. Represents award of RSUs that will vest 33%, 33%, 34% on March 15, 2027, 2028 and 2029, respectively, assuming continued employment. During the vesting period, an amount equal to the dividends that would have been paid on the RSUs had they been in the form of common stock will be converted into additional RSUs.

Key Figures

RSU grant size: 9,154 RSUs Grant valuation per share: $14.83 per share Post-transaction holdings: 403,029 shares +3 more

6 metrics

RSU grant size 9,154 RSUs Award of restricted stock units to CEO Arsen S. Kitch

Grant valuation per share $14.83 per share Reported price per share for the RSU award

Post-transaction holdings 403,029 shares Common stock directly owned by CEO after the grant

First vesting tranche 33% on March 15, 2027 Initial vesting date for the RSU award

Second vesting tranche 33% on March 15, 2028 Second vesting date for the RSU award

Final vesting tranche 34% on March 15, 2029 Final vesting date for the RSU award

Key Terms

restricted stock units ("RSUs"), vest, dividends, common stock, +1 more

5 terms

restricted stock units ("RSUs") financial

"Represents award of restricted stock units ("RSUs"). RSUs may be settled only for shares of common stock"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

vest financial

"RSUs that will vest 33%, 33%, 34% on March 15, 2027, 2028 and 2029"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

dividends financial

"an amount equal to the dividends that would have been paid on the RSUs"

Dividends are cash payments a company gives to its shareholders from profits or cash reserves, effectively sharing part of its earnings with owners. They matter to investors because they provide a steady income stream, act like an interest or rent payment on owning the stock, and signal management’s confidence in the business—factors that influence total return and share price. Regular or special dividends can change an investor’s income and reinvestment strategy.

common stock financial

"may be settled only for shares of common stock on a one-for-one basis"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Clearwater Paper (CLW) report for its CEO?

Clearwater Paper reported its President and CEO, Arsen S. Kitch, received an award of 9,154 restricted stock units. These RSUs are stock-based compensation, not an open-market trade, and increase his equity stake in Clearwater Paper through a time-based vesting schedule.

How many RSUs did Clearwater Paper CEO Arsen S. Kitch receive?

Arsen S. Kitch was granted 9,154 restricted stock units of Clearwater Paper common stock. The award is structured to vest over three future dates, aligning his compensation with longer-term company performance and continued employment requirements at Clearwater Paper Corp.

What is the vesting schedule for the Clearwater Paper CEO’s new RSUs?

The CEO’s 9,154 RSUs will vest 33%, 33% and 34% on March 15, 2027, 2028 and 2029. Vesting depends on continued employment, meaning he must remain with Clearwater Paper for the RSUs to convert into common stock over time.

How are dividends treated on the Clearwater Paper CEO’s RSU grant?

During the vesting period, an amount equal to dividends that would have been paid on the underlying shares will be converted into additional RSUs. This means dividend equivalents accumulate as more RSUs rather than cash, further tying compensation to Clearwater Paper stock.

What are Arsen S. Kitch’s Clearwater Paper share holdings after this RSU award?

Following the RSU grant, Arsen S. Kitch directly holds 403,029 shares of Clearwater Paper common stock. This figure reflects his position after the 9,154-share RSU award, highlighting a substantial ongoing equity stake in the company’s common equity.

Was the Clearwater Paper CEO’s Form 4 transaction a stock purchase or sale?

The Form 4 shows a grant or award acquisition, not a purchase or sale. The 9,154 restricted stock units are compensation awarded by Clearwater Paper, to be settled in common stock as they vest, rather than shares bought or sold in the market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/19/2026 - 05:19 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kitch Arsen S.

(Last) (First) (Middle)

601 W RIVERSIDE AVE STE 300

(Street)

SPOKANE WASHINGTON 99201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Clearwater Paper Corp [ CLW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	05/18/2026		A		9,154(2)	A	$14.83	403,029	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents award of restricted stock units ("RSUs"). RSUs may be settled only for shares of common stock on a one-for-one basis.

2. Represents award of RSUs that will vest 33%, 33%, 34% on March 15, 2027, 2028 and 2029, respectively, assuming continued employment. During the vesting period, an amount equal to the dividends that would have been paid on the RSUs had they been in the form of common stock will be converted into additional RSUs.

Remarks:

	/s/ Marc D. Rome, Attorney-in-Fact	05/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)