Eastman Chemical director granted phantom units

BUTLER ERIC L reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

BUTLER ERIC L reported acquisition or exercise transactions in this Form 4 filing.

Eastman Chemical director Eric L. Butler received a grant of 408 Phantom Stock Units as compensation. These units were credited under the Directors' Deferred Compensation Plan as an automatic deferral of a portion of his annual cash retainer fees.

Each Phantom Stock Unit tracks the market value of one share of Eastman Chemical common stock but is payable only in cash after he terminates service as a director. Following this grant and dividend equivalents reinvested in additional units, Butler now holds a total of 3,228 Phantom Stock Units under the plan.

Insider Trade Summary

Grant/Award: 408 shares

Grant/Award 1 txn

Insider BUTLER ERIC L

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	408	$0.00	$0.00

Holdings After Transaction: Phantom Stock Units — 3,228 contracts (Direct)

Footnotes (3)

1. F1. Phantom Stock Units credited under the Directors' Deferred Compensation Plan, each having a value equal to the market value of 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 dividend equivalents reinvested in additional Phantom Stock Units.

Key Figures

Phantom Stock Units granted: 408 units Total Phantom Stock Units after grant: 3,228 units Transaction price per unit: $0.0000 +1 more

4 metrics

Phantom Stock Units granted 408 units Grant on April 8, 2026 as director compensation

Total Phantom Stock Units after grant 3,228 units Balance following the April 8, 2026 award

Transaction price per unit $0.0000 Book value per Phantom Stock Unit for this grant

Underlying security 408 shares of Common Stock Reference value per Phantom Stock Unit granted

Key Terms

Phantom Stock Units, Directors' Deferred Compensation Plan, dividend equivalents, annual retainer fees

4 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, each having a value equal"

dividend equivalents financial

"Includes dividend equivalents reinvested in additional Phantom Stock Units."

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.

annual retainer fees financial

"Automatic deferral of a portion of director's annual retainer fees"

FAQ

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

What did Eastman Chemical (EMN) director Eric L. Butler report on this Form 4?

Eric L. Butler reported receiving 408 Phantom Stock Units as director compensation. The units were credited under Eastman Chemical’s Directors' Deferred Compensation Plan as an automatic deferral of a portion of his annual cash retainer fees.

How many Phantom Stock Units does EMN director Eric L. Butler now hold?

After the latest grant, Eric L. Butler holds 3,228 Phantom Stock Units. This total includes the new 408-unit award and prior balances, as well as dividend equivalents that have been reinvested into additional Phantom Stock Units under the deferred compensation plan.

Are Eastman Chemical (EMN) Phantom Stock Units actual shares of common stock?

The Phantom Stock Units are not actual shares; they are cash-settled units. Each unit has a value equal to one share of Eastman Chemical common stock but is payable only in cash after the director’s service on the board ends.

How did Eric L. Butler acquire the 408 Phantom Stock Units at Eastman Chemical (EMN)?

He acquired the 408 Phantom Stock Units through an automatic deferral of part of his annual director retainer. Amounts that would otherwise have been paid in cash were converted into Phantom Stock Units under the company’s Directors' Deferred Compensation Plan.

When will Eastman Chemical (EMN) pay out Eric L. Butler’s Phantom Stock Units?

The Phantom Stock Units are payable only in cash after Eric L. Butler terminates service as a director. Until then, they remain as bookkeeping units whose value is tied to the market value of Eastman Chemical’s common stock.

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

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Accepted by SEC EDGAR 04/10/2026 - 04:08 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)
04/08/2026

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)	04/08/2026		A		408(1)(2)		(1)	(1)	Common Stock	408(1)(2)	$0(2)	3,228(3)	D

Explanation of Responses:

1. Phantom Stock Units credited under the Directors' Deferred Compensation Plan, each having a value equal to the market value of 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 dividend equivalents reinvested in additional Phantom Stock Units.

Remarks:

	/s/ Mark D. Austin, by Power of Attorney for Eric L. Butler	04/10/2026
	** 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)