Dante C. Parrini - Feb 18, 2022 Form 4 Insider Report for Glatfelter Corp (GLT)

Role
Chairman and CEO, Director
Signature
/s/ Jill L. Urey, Attorney-in-fact
Stock symbol
GLT
Transactions as of
Feb 18, 2022
Transactions value $
$474,932
Form type
4
Date filed
2/23/2022, 10:06 AM
Previous filing
Feb 18, 2022
Next filing
May 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLT Common Stock, Par Value $.01 Options Exercise $738K +52.6K +12.91% $14.05* 460K Feb 21, 2022 Direct F1
transaction GLT Common Stock, Par Value $.01 Tax liability -$264K -18.8K -4.08% $14.05* 441K Feb 21, 2022 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GLT Restricted Stock Units Award +5.03K +10.58% 52.6K Feb 21, 2022 Common Stock, Par Value $.01 5.03K Direct F4, F5, F6
transaction GLT Restricted Stock Units Options Exercise -52.6K -100% 0 Feb 21, 2022 Common Stock, Par Value $.01 52.6K Direct F1, F4
transaction GLT Restricted Stock Units Award $0 +85.4K $0.00 85.4K Feb 18, 2022 Common Stock, Par Value $.01 85.4K Direct F4, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Because the payout occurred on a federal holiday (Monday, February 21, 2022), the value of the shares was determined using the closing price of the previous business day (Friday, February 18, 2022).
F2 These shares are being withheld to satisfy tax obligations.
F3 Because the payout occurred on a federal holiday (Monday, February 21, 2022), the value of the shares was determined using the closing price of the previous business day (Friday, February 18, 2022).
F4 Not applicable to this transaction. RSUs have no value until all restrictions lapse on the final vesting date.
F5 These are dividend equivalents in the form of additional Restricted Stock Units ("RSUs") that have accrued on the 2/21/2019 RSU Grant reported previously. The dividend equivalents are added to the initial grant at the time of payout.
F6 Not applicable to this transaction
F7 This RSU grant vests one-third on 2/18/2023, one-third on 2/18/2024 and the final one-third vests, and all restrictions lapse, on 2/18/2025.