Eastman Chemical (EMN) director receives 408 Phantom Stock Units as deferred pay

Q: What did EMN director Donald W. Slager report in this Form 4?

Donald W. Slager reported receiving 408 Phantom Stock Units tied to Eastman Chemical common stock. The units were granted as part of his director compensation and credited under the Directors' Deferred Compensation Plan, increasing his total Phantom Stock Unit balance to 1,699 units.

Q: Is the EMN Form 4 transaction an open-market buy or sell of stock?

No, the Form 4 shows a grant of Phantom Stock Units , not an open-market trade. The units were awarded at a price of $0.00 per unit as deferred director compensation, and are payable only in cash after Slager’s board service ends.

Q: How many Phantom Stock Units does Donald W. Slager hold after this EMN grant?

After this grant, Donald W. Slager holds 1,699 Phantom Stock Units . This total includes the new 408-unit award as well as previously credited units and dividend equivalents that have been reinvested into additional Phantom Stock Units over time.

Q: What are Phantom Stock Units in the context of Eastman Chemical (EMN)?

Phantom Stock Units are cash-settled compensation units whose value equals one share of Eastman Chemical common stock. Under the Directors’ Deferred Compensation Plan, they accumulate like stock but are ultimately payable only in cash after the director’s service terminates.

Q: How were the 408 Phantom Stock Units for EMN’s director determined?

The 408 Phantom Stock Units reflect an automatic deferral of a portion of the director’s annual retainer that otherwise would have been paid in cash. Under plan terms, related dividend equivalents are also reinvested into additional Phantom Stock Units over time.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

SLAGER DONALD W reported acquisition or exercise transactions in this Form 4 filing.

Eastman Chemical Company director Donald W. Slager received a compensation grant of 408 Phantom Stock Units. These units were credited under the Directors' Deferred Compensation Plan at no purchase price and each unit tracks the value of one share of common stock.

The award represents an automatic deferral of a portion of the director’s annual cash retainer, with amounts payable only in cash after his service as a director ends. Following this grant, Slager holds a total of 1,699 Phantom Stock Units, including units from prior awards and dividend equivalents reinvested in additional units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SLAGER DONALD W

Role Director

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

Holdings After Transaction: Phantom Stock Units — 1,699 shares (Direct)

Footnotes (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. Automatic deferral of a portion of director's annual retainer fees that would otherwise have been paid in cash. Includes dividend equivalents reinvested in additional Phantom Stock Units.

Key Figures

Phantom Stock Units granted: 408 units Total Phantom Stock Units after grant: 1,699 units Grant price per unit: $0.00 per unit +1 more

4 metrics

Phantom Stock Units granted 408 units Award on 2026-04-08 as director compensation

Total Phantom Stock Units after grant 1,699 units Holdings following the reported transaction

Grant price per unit $0.00 per unit Compensation award, no purchase price paid

Underlying common stock equivalent 408 shares Each Phantom Stock Unit equals one share value

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, each having a value equal to the market value of one share"

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

"Phantom Stock Units credited under the Directors' Deferred Compensation Plan, each having a value equal to the market value"

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.

Form 4 Insider Transactions: What Each Field Means →

04/10/2026 - 04:08 PM

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^*

SLAGER DONALD W

(Last)

(First)

(Middle)

200 SOUTH 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	$0⁽¹⁾	04/08/2026		A		408⁽¹⁾⁽²⁾		⁽¹⁾	⁽¹⁾	Common Stock	408⁽¹⁾⁽²⁾	$0⁽²⁾	1,699⁽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 Donald W. Slager	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)

Source: View Original Filing on SEC EDGAR

FAQ

What did EMN director Donald W. Slager report in this Form 4?

Donald W. Slager reported receiving 408 Phantom Stock Units tied to Eastman Chemical common stock. The units were granted as part of his director compensation and credited under the Directors' Deferred Compensation Plan, increasing his total Phantom Stock Unit balance to 1,699 units.

Is the EMN Form 4 transaction an open-market buy or sell of stock?

No, the Form 4 shows a grant of Phantom Stock Units, not an open-market trade. The units were awarded at a price of $0.00 per unit as deferred director compensation, and are payable only in cash after Slager’s board service ends.

How many Phantom Stock Units does Donald W. Slager hold after this EMN grant?

After this grant, Donald W. Slager holds 1,699 Phantom Stock Units. This total includes the new 408-unit award as well as previously credited units and dividend equivalents that have been reinvested into additional Phantom Stock Units over time.

What are Phantom Stock Units in the context of Eastman Chemical (EMN)?

Phantom Stock Units are cash-settled compensation units whose value equals one share of Eastman Chemical common stock. Under the Directors’ Deferred Compensation Plan, they accumulate like stock but are ultimately payable only in cash after the director’s service terminates.

How were the 408 Phantom Stock Units for EMN’s director determined?

The 408 Phantom Stock Units reflect an automatic deferral of a portion of the director’s annual retainer that otherwise would have been paid in cash. Under plan terms, related dividend equivalents are also reinvested into additional Phantom Stock Units over time.