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.
Clearwater Paper Corporation filings document an operating company focused on paperboard packaging products and the financial reporting tied to that business. Form 8-K reports furnish quarterly and annual results, earnings materials, GAAP measures and non-GAAP measures such as Adjusted EBITDA and adjusted net income or loss from continuing operations.
Proxy materials cover annual meeting matters, governance matters, executive compensation, pay-versus-performance data and equity award disclosures. The filing record also addresses material-event disclosures, capital-structure matters, goodwill impairment and discontinued-operations presentation connected to the company's paperboard operations and completed tissue business separation.
Clearwater Paper Corp senior vice president and general counsel Marc D. Rome received an equity award on February 26, 2026. He was granted 11,422 restricted stock units that settle into common stock on a one-for-one basis, increasing his directly held interest to 19,748 common shares.
The award vests in stages, with 33% vesting on March 15, 2027, 33% on March 15, 2028, and 34% on March 15, 2029, assuming continued employment. During this vesting period, dividend equivalents on the units will be converted into additional restricted stock units.
Passarello Mathew D reported acquisition or exercise transactions in this Form 4 filing.
Clearwater Paper Corp senior vice president Mathew D. Passarello reported an equity award in the form of restricted stock units (RSUs). He was granted 10,422 RSUs that may be settled into an equal number of common shares on a one-for-one basis.
The RSUs are scheduled to vest in three installments 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 credited as additional RSUs. Following this award, his directly owned common stock and RSU-related holdings total 26,783 shares.
Clearwater Paper Corp senior vice president Sean M. Krajnik reported receiving a grant of 10,708 shares of common stock in the form of restricted stock units (RSUs). These RSUs vest 33%, 33% and 34% on March 15 of 2027, 2028 and 2029, assuming continued employment, and his directly held common stock after the award totals 26,223 shares. During the vesting period, dividend equivalents on the RSUs will be converted into additional RSUs.
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.