Welcome to our dedicated page for Clearwater Paper SEC filings (Ticker: CLW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page provides access to Clearwater Paper Corporation’s U.S. Securities and Exchange Commission filings related to CLW stock. Clearwater Paper is a New York Stock Exchange–listed manufacturer in the paperboard mills industry and describes itself as a premier independent supplier of bleached paperboard packaging products to North American converters. Its SEC filings give detailed insight into its paperboard-focused strategy, financial performance, and risk disclosures.
Investors can review annual reports on Form 10-K and quarterly reports on Form 10-Q for information on Clearwater Paper’s pulp and paperboard operations, use of non-GAAP measures such as Adjusted EBITDA from continuing operations, and the treatment of discontinued operations following the sale of its tissue business. These reports also summarize the company’s acquisition of the Augusta, Georgia paperboard facility and its emphasis on paperboard packaging for consumer goods and food service applications.
Current reports on Form 8-K document material events, including the release of quarterly results and explanations of non-GAAP metrics. Clearwater Paper’s 8-K filings describe how Adjusted EBITDA from continuing operations and adjusted net income (loss) from continuing operations are defined and used by management, and they reference accompanying press releases and supplemental information.
On Stock Titan, Clearwater Paper’s SEC filings are updated in near real time as they appear on EDGAR. AI-powered summaries help explain lengthy 10-K and 10-Q documents, highlight key items in 8-Ks, and make it easier to understand trends in CLW’s paperboard business, cost structure initiatives, and other disclosures without reading every page.
Clearwater Paper Corp President and CEO Arsen S. Kitch received an equity grant of 83,623 restricted stock units (RSUs) of common stock. The RSUs vest 33%, 33%, and 34% on March 15, 2027, 2028, and 2029, assuming continued employment. Dividend equivalents during the vesting period will convert into additional RSUs. Following this award, his directly owned common stock (including RSU-related holdings) is reported at 407,398 shares.
Clearwater Paper Corp senior vice president Steve M. Bowden reported an equity compensation grant in the form of restricted stock units (RSUs) tied to the company’s common stock. He acquired 13,278 RSUs, each convertible into one share of common stock when settled.
The award will vest in three tranches, with 33%, 33% and 34% scheduled to vest 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. Following this grant, Bowden’s directly held common stock (including RSU-related holdings) is reported at 81,794 shares, reflecting a meaningful long-term, stock-based component in his compensation.
Clearwater Paper Corp reported that VP and Controller Rebecca Anne Barckley acquired 4,338 shares of common stock through a grant of restricted stock units (RSUs) at no cash cost per share. Following this award, her directly held common stock position increased to 20,646 shares.
The RSU grant will vest in stages, with 33% of the units vesting on March 15, 2027, another 33% on March 15, 2028, and the remaining 34% on March 15, 2029, assuming she remains employed. During the vesting period, amounts equivalent to dividends on these RSUs will be converted into additional RSUs that can be settled into common stock on a one-for-one basis.
Clearwater Paper Corp reported that its SVP and CFO, Sherri Baker, acquired 15,220 shares of common stock through a grant of restricted stock units (RSUs) on February 26, 2026. The RSUs were granted at no cash cost and can be settled one-for-one in common shares.
The award will vest in stages, with 33%, 33%, and 34% of the RSUs vesting on March 15, 2027, March 15, 2028, and March 15, 2029, assuming continued employment. Dividend equivalents during the vesting period will be converted into additional RSUs. After this grant, Baker directly holds 46,574 shares of Clearwater Paper common stock.
Aulin Virginia L. reported acquisition or exercise transactions in this Form 4 filing.
Clearwater Paper Corp Senior Vice President Virginia L. Aulin received a grant of 9,994 restricted stock units (RSUs) tied to the company’s common stock. These RSUs settle one-for-one into common shares and will vest 33%, 33%, and 34% on March 15, 2027, 2028, and 2029, assuming continued employment. Following this award, Aulin directly holds 13,300 common shares, and dividend equivalents on the RSUs will be credited as additional RSUs during the vesting period.
Clearwater Paper Corporation reports a transformed business focused entirely on Solid Bleached Sulfate paperboard after two major 2024 transactions. It bought the Augusta, Georgia paperboard mill and related assets for about $710.6 million and sold its tissue division for $1.06 billion in cash.
The company repurchased $17.2 million of stock in 2025, with $79.5 million still authorized, and had 16,038,485 shares outstanding as of February 17, 2026. Clearwater estimates it holds roughly 11% of North American paperboard capacity, with 1,420,000 tons of annual capacity across three mills.
Management highlights climate goals, targeting a 30% cut in Scope 1 and 2 emissions and 25% in Scope 3 by 2030, and notes substantial exposure to cyclical demand, increased SBS supply, customer concentration (top 10 customers were 46% of 2025 sales), raw material and energy costs, labor relations, cybersecurity, and environmental regulation, including PFAS-related litigation tied to the Augusta facility.
Clearwater Paper reported 2025 net sales of $1.6 billion, up 12% from 2024, driven by a 14% increase in paperboard volumes, mainly from running the Augusta mill for a full year. Despite this, it recorded a $53 million net loss from continuing operations, or -$3.28 per diluted share, largely due to a $48 million non-cash goodwill impairment.
Adjusted EBITDA from continuing operations rose sharply to $107.2 million from $36.0 million, helped by over $50 million in fixed-cost reductions, including $16 million of SG&A savings, and lower input costs, partially offset by weaker pricing. In Q4 2025, net sales were $386.4 million, essentially flat year over year, while Adjusted EBITDA improved to $19.8 million from $9.5 million.
The company highlighted severe early-2026 weather at its Augusta and Cypress Bend facilities, estimating around a $20 million hit to Adjusted EBITDA, and guided to roughly breakeven Adjusted EBITDA in Q1 2026. For 2026, it assumes revenue of $1.4–$1.5 billion, capacity utilization in the mid-80% range, major maintenance costs of $45–$50 million, and capital expenditures of $65–$75 million, while targeting working capital improvements and maintaining a net leverage ratio near 2.5x.
Southeastern Asset Management and affiliates report an 8.6% passive stake in Clearwater Paper Corporation common stock. As of December 31, 2025, Southeastern and Longleaf Partners Small-Cap Fund together beneficially own 1,380,930 shares, with Longleaf holding 1,378,835 shares and Southeastern retaining 2,095 shares directly.
The filing states these securities were acquired and are held in the ordinary course of business and are not intended to change or influence control of Clearwater Paper. O. Mason Hawkins is listed as a reporting person but reports beneficial ownership of 0 shares.
BlackRock, Inc. filed an amended Schedule 13G reporting beneficial ownership of 1,373,009 shares of Clearwater Paper Corp common stock, representing 8.6% of the outstanding class as of 12/31/2025. BlackRock reports sole power to vote 1,356,911 shares and sole power to dispose of 1,373,009 shares, with no shared voting or dispositive power.
The filing explains that these holdings are attributed to certain BlackRock business units and that various underlying persons have rights to dividends or sale proceeds, but no single such person has more than five percent of the total outstanding common shares. BlackRock certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Clearwater Paper.
Clearwater Paper Corp executive Marc D. Rome, SVP, General Counsel and Corporate Secretary, reported a small share withholding related to equity compensation. On January 15, 2026, 81 shares of Clearwater Paper common stock were withheld at a price of $20.33 per share to cover tax obligations arising from the vesting of a 2024 restricted stock unit grant. After this withholding, Rome directly beneficially owns 8,326 shares of Clearwater Paper common stock. This filing reflects an administrative tax-settlement event rather than an open-market sale.