BlackRock (CLW) discloses 1.14M shares, 7.1% stake in Clearwater Paper (Schedule 13G/A)

Rhea-AI Filing Summary

BlackRock, Inc. filed an Amendment No. 7 to Schedule 13G/A reporting beneficial ownership of 1,140,272 shares of Clearwater Paper Corp common stock. The filing states this equals 7.1% of the class and shows sole voting power for 1,124,725 shares and sole dispositive power for 1,140,272 shares. The filing is signed by Spencer Fleming as Managing Director on 04/24/2026.

Insights

Institutional Ownership Analyst

BlackRock reports a 7.1% stake in Clearwater Paper with full dispositive control recorded.

BlackRock's Amendment No. 7 shows 1,140,272 shares beneficially owned, with sole dispositive power over those shares and sole voting power over 1,124,725. The filing aggregates holdings of certain reporting business units per SEC Release No. 34-39538.

Impact is procedural: this is a disclosure of a passive stake above 5% rather than a transaction. Subsequent filings would show changes; timing and any trading intent are not disclosed in the excerpt.

Governance Specialist

The filing clarifies voting and dispositive authority and notes holdings may represent multiple BlackRock business units.

The cover indicates the reported figures reflect aggregated units of BlackRock and do not include other disaggregated business units. Item 6 clarifies various persons may have rights to dividends or proceeds, and no single external person exceeds 5% on their own.

For governance purposes, the clearest items to watch are any later amendments that change percent ownership or voting power.

Key Figures

Beneficially owned shares: 1,140,272 shares Percent of class: 7.1% Sole voting power: 1,124,725 shares +2 more

5 metrics

Beneficially owned shares 1,140,272 shares Amount beneficially owned reported on Schedule 13G/A

Percent of class 7.1% Percent of Clearwater Paper common stock reported

Sole voting power 1,124,725 shares Sole power to vote or direct the vote

Sole dispositive power 1,140,272 shares Sole power to dispose or direct disposition

Signature date 04/24/2026 Date the Schedule 13G/A was signed by Spencer Fleming

Key Terms

Schedule 13G/A, Beneficial ownership, Sole dispositive power, SEC Release No. 34-39538

4 terms

Schedule 13G/A regulatory

"Amendment No. 7 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership financial

"Amount beneficially owned: 1140272"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 1140272"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SEC Release No. 34-39538 regulatory

"In accordance with SEC Release No. 34-39538 (January 12, 1998)"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

CLEARWATER PAPER CORP

(Name of Issuer)

Common Stock

(Title of Class of Securities)

18538R103

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 18538R103

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,124,725.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,140,272.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,140,272.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.1 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CLEARWATER PAPER CORP
(b)	Address of issuer's principal executive offices: 601 West Riverside, Suite 300 SPOKANE WA 99201
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 18538R103
Item 4.	Ownership
(a)	Amount beneficially owned: 1140272
(b)	Percent of class: 7.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1124725
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1140272
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of CLEARWATER PAPER CORP. No one person's interest in the common stock of CLEARWATER PAPER CORP is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	04/24/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

What stake does BlackRock hold in Clearwater Paper (CLW)?

BlackRock reports beneficial ownership of 1,140,272 shares, representing 7.1% of Clearwater Paper's common stock. The filing records sole dispositive power for 1,140,272 shares and sole voting power for 1,124,725 shares.

What does the Schedule 13G/A Amendment No. 7 indicate about voting control?

The amendment shows BlackRock has sole voting power over 1,124,725 shares of Clearwater Paper common stock. It separately records sole dispositive power over 1,140,272 shares, per the cover-page ownership disclosures.

Who signed the Schedule 13G/A for BlackRock and when?

The filing is signed by Spencer Fleming, Managing Director, with an execution date of 04/24/2026. The cover page lists the reported securities and the address for BlackRock, Inc.

Does the filing say BlackRock acts on behalf of other persons?

Item 6 states various persons have rights to dividends or sale proceeds and that no single other person holds more than 5%. The filing also aggregates holdings of certain BlackRock business units under SEC Release No. 34-39538.

Does the amendment show BlackRock plans to sell or buy CLW shares?

The amendment discloses current beneficial ownership and voting/dispositive power; it does not specify any purchase or sale plans or trading intent in the provided excerpt.