International Paper (NYSE: IP) SVP logs plan-driven stock disposition

Rhea-AI Filing Summary

International Paper senior vice president Clayton R. Ellis reported a plan-related disposition of 18,819 shares of common stock on 11/18/2025 at $36.85 per share. The shares were held indirectly through the International Paper Company Salaried Savings Plan and were liquidated when the company converted its stock fund to cash.

The change occurred as part of International Paper's planned divestiture of its Global Cellulose Fibers business to American Industrial Partners, and was described as an administrative step following established procedures rather than a discretionary trade by employees. After the transaction, Ellis no longer held shares indirectly via the plan but continued to hold 68,632 shares directly.

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
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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^*

Ellis Clay R

(Last) (First) (Middle)

C/O INTERNATIONAL PAPER COMPANY

6400 POPLAR AVENUE

(Street)

MEMPHIS TN 38197

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INTERNATIONAL PAPER CO /NEW/ [ IP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Common Stock	11/18/2025		S		18,819(1)	D	$36.85	0	I	By Plan
Common Stock								68,632(2)	D

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

Explanation of Responses:

1. As part of the International Paper Company's (the "Company's") planned divestiture of its Global Cellulose Fibers business to American Industrial Partners ("AIP"), the Company liquidated International Paper common stock held in the Company stock fund of the International Paper Company Salaried Savings Plan and transitioned the resulting cash value for reinvestment in a new savings plan. This transition was an administrative step carried out as part of the broader divestment process and followed established procedures, rather than any discretionary action by eligible contributing employees in the SSP. As a consequence of this liquidation and reinvestment, there was a disposition of units of Shares attributable to Clayton R. Ellis.

2. Share numbers rounded.

Remarks:

Power of Attorney on file.

	/s/ Vincent T. Smith, attorney-in-fact for Clayton R. Ellis	12/17/2025
	** 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.

FAQ

What insider transaction did International Paper (IP) disclose in this filing?

The filing shows that Clayton R. Ellis, a senior vice president at International Paper, reported a disposition of 18,819 shares of the company’s common stock at $36.85 per share on 11/18/2025, previously held indirectly through a company savings plan.

Who is Clayton R. Ellis in relation to International Paper (IP)?

Clayton R. Ellis is identified as an officer of International Paper, serving as Senior Vice President, and is the reporting person for this equity transaction.

How many International Paper (IP) shares does Clayton R. Ellis hold after the reported transaction?

Following the reported transaction, Ellis held 0 shares indirectly through the savings plan and 68,632 shares of International Paper common stock in direct ownership.

At what price were the International Paper (IP) shares disposed of in this transaction?

The 18,819 shares of International Paper common stock attributed to Clayton R. Ellis were reported as disposed of at a price of $36.85 per share.

Why did this International Paper (IP) stock disposition occur for Clayton R. Ellis?

The disposition resulted from the company’s planned divestiture of its Global Cellulose Fibers business to American Industrial Partners, during which International Paper liquidated common stock held in the Salaried Savings Plan’s company stock fund and reinvested the cash in a new savings plan.

Was the International Paper (IP) transaction described as discretionary for employees in the savings plan?

No. The company described the liquidation and reinvestment as an administrative step that followed established procedures and was not a discretionary action by eligible contributing employees in the Salaried Savings Plan.