Eastman Chemical (NYSE: EMN) director gets 1,628 phantom stock units

Rhea-AI Filing Summary

Alfonso Humberto P reported acquisition or exercise transactions in this Form 4 filing.

Eastman Chemical director Humberto P. Alfonso received a grant of 1,628 Phantom Stock Units on May 7, 2026. These units are part of the Directors' Deferred Compensation Plan and each unit’s value equals one share of Eastman common stock.

The award represents the deferral, at the director’s election, of the value of his annual non-employee director restricted stock award that would otherwise have been paid in common stock. The Phantom Stock Units vest on May 7, 2027 and are payable only in cash. Following this grant, the director holds 57,588 Phantom Stock Units in total.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Alfonso Humberto P

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	1,628	$73.69	$120K

Holdings After Transaction: Phantom Stock Units — 57,588 shares (Direct, null)

Footnotes (1)

1. Unvested 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. The Phantom Stock Units will vest on May 7, 2027, and are payable only in cash. Deferral at election of director of value of annual non-employee director restricted stock award that would otherwise have been paid in common stock.

Key Figures

Phantom units granted: 1,628 units Grant reference price: $73.69 per unit Total phantom units after grant: 57,588 units +2 more

5 metrics

Phantom units granted 1,628 units Grant on May 7, 2026 to director

Grant reference price $73.69 per unit Value per Phantom Stock Unit on grant

Total phantom units after grant 57,588 units Director’s holdings following transaction

Underlying common stock equivalence 1,628 shares Each Phantom Stock Unit equals one share value

Vesting date May 7, 2027 Vesting for 1,628 Phantom Stock Units

Key Terms

Phantom Stock Units, Directors' Deferred Compensation Plan, restricted stock award

3 terms

Phantom Stock Units financial

"Unvested 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"

restricted stock award financial

"Deferral at election of director of value of annual non-employee director restricted stock award"

A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.

Form 4 Insider Transactions: What Each Field Means →

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^*

Alfonso Humberto P

(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)
05/07/2026

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)	05/07/2026		A		1,628(2)		(1)	(1)	Common Stock	1,628(1)	$73.69(2)	57,588	D

Explanation of Responses:

1. Unvested 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. The Phantom Stock Units will vest on May 7, 2027, and are payable only in cash.

2. Deferral at election of director of value of annual non-employee director restricted stock award that would otherwise have been paid in common stock.

Remarks:

	/s/ Mark D. Austin, by Power of Attorney for Humberto P. Alfonso	05/11/2026
	** 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)

FAQ

What did Eastman Chemical (EMN) report in this Form 4 filing?

Eastman Chemical reported that director Humberto P. Alfonso received 1,628 Phantom Stock Units as a deferred compensation grant. The award reflects his elected deferral of an annual restricted stock grant into cash-settled phantom units tied to Eastman’s common stock value.

How many Phantom Stock Units does the Eastman Chemical director hold after this grant?

After this grant, the director holds 57,588 Phantom Stock Units in total. This total includes the new 1,628-unit award credited under the Directors' Deferred Compensation Plan, all of which track Eastman Chemical’s common stock value but are ultimately paid only in cash.

When do the newly granted Phantom Stock Units at Eastman Chemical vest?

The newly granted 1,628 Phantom Stock Units vest on May 7, 2027. Until vesting, they remain unvested awards under the Directors' Deferred Compensation Plan, with value linked to Eastman Chemical’s common stock price even though they will be settled only in cash.

Are the Eastman Chemical Phantom Stock Units paid in stock or cash?

The Phantom Stock Units are payable only in cash, not actual shares. Each unit’s value equals one share of Eastman common stock, but upon payout the director receives a cash amount based on that value rather than any issuance of stock.

What is the relationship between the Phantom Stock Units and restricted stock at Eastman Chemical (EMN)?

The Form 4 notes the grant reflects the director’s election to defer the value of his annual non-employee director restricted stock award. Instead of receiving common shares, he receives equivalent-value Phantom Stock Units credited under the Directors' Deferred Compensation Plan.