Eastman Chemical director gets 480 stock-linked units

The phantom units track the value of common stock but are payable only in cash after the director's service ends.

Rhea-AI Filing Summary

Eastman Chemical Co. director Eric L. Butler acquired 480 Phantom Stock Units on October 7, 2026, through automatic deferral of part of his annual retainer that otherwise would have been paid in cash. Each unit has a value equal to one share of common stock and is payable only in cash after termination of service as a director. His reported balance was 3,798 units after the transaction, including units credited since April 8, 2026, as reinvestment of dividend equivalents.

Insider Trade Summary

Grant/Award: 480 shares

Grant/Award 1 txn

Insider BUTLER ERIC L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units F1, F2, F3	480	$0.00	$0.00

Holdings After Transaction: Phantom Stock Units — 3,798 contracts (Direct)

Footnotes (3)

1. F1. Phantom Stock Units credited under the Directors' Deferred Compensation Plan, each having a value equal to one share of issuer common stock and payable only in cash after termination of service as a director.
2. F2. Automatic deferral of a portion of director's annual retainer fees that would otherwise have been paid in cash.
3. F3. Includes units credited since April 8, 2026, as reinvestment of dividend equivalents for phantom shares deferred under the Directors' Deferred Compensation Plan.

Key Figures

Phantom Stock Units acquired: 480 units Phantom Stock Units after transaction: 3,798 units Value per Phantom Stock Unit: Equal to one share of common stock

3 metrics

Phantom Stock Units acquired 480 units October 7, 2026

Phantom Stock Units after transaction 3,798 units Includes units credited since April 8, 2026, as reinvestment of dividend equivalents

Value per Phantom Stock Unit Equal to one share of common stock Payable only in cash after termination of service as a director

Key Terms

Phantom Stock Units, Directors' Deferred Compensation Plan, dividend equivalents

3 terms

Phantom Stock Units financial

"Phantom Stock Units credited under the Directors' Deferred Compensation Plan"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Directors' Deferred Compensation Plan financial

"credited under the Directors' Deferred Compensation Plan"

dividend equivalents financial

"reinvestment of dividend equivalents"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

FAQ

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

How many EMN phantom stock units did director Eric L. Butler acquire?

Eric L. Butler acquired 480 Phantom Stock Units on October 7, 2026, bringing his reported balance to 3,798 units. Each unit has a value equal to one share of Eastman Chemical Co. common stock and is payable only in cash after termination of director service.

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

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Available on EDGAR 10/09/2026 - 04:03 PM Accepted by SEC EDGAR 10/09/2026 - 04:03 PM 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^*

BUTLER ERIC L

(Last) (First) (Middle)

200 S. WILCOX DRIVE

(Street)

KINGSPORT TENNESSEE 37660

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
EASTMAN CHEMICAL CO [ EMN ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2026

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

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
Phantom Stock Units	$0(1)	10/07/2026		A		480(1)(2)		(1)	(1)	Common Stock	480(1)(2)	$0(2)	3,798(3)	D

Explanation of Responses:

1. Phantom Stock Units credited under the Directors' Deferred Compensation Plan, each having a value equal to one share of issuer common stock and payable only in cash after termination of service as a director.

2. Automatic deferral of a portion of director's annual retainer fees that would otherwise have been paid in cash.

3. Includes units credited since April 8, 2026, as reinvestment of dividend equivalents for phantom shares deferred under the Directors' Deferred Compensation Plan.

Remarks:

	/s/ Mark D. Austin, by Power of Attorney for Eric L. Butler	10/09/2026
	** 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)