Michael John Murphy - Apr 13, 2023 Form 4 Insider Report for Clearwater Paper Corp (CLW)

Signature
/s/ Michael S. Gadd, Attorney-in Fact
Stock symbol
CLW
Transactions as of
Apr 13, 2023
Transactions value $
-$347,286
Form type
4
Date filed
4/17/2023, 02:15 PM
Previous filing
Mar 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CLW Common Stock Tax liability -$31.2K -964 -1.64% $32.40 57.9K Apr 13, 2023 Direct F1
transaction CLW Common Stcok Tax liability -$228K -7.03K -12.14% $32.40 50.9K Apr 13, 2023 Direct F1
transaction CLW Common Stock Sale -$88.2K -2.68K -5.27% $32.88 48.2K Apr 14, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 Represents shares withheld by Clearwater Paper Corporation to satisfy tax withholding requirements due at settlement of the 2020 grant of restricted stock units that vested April 13, 2023.
F2 This transaction was executed pursuant to a sale in accordance with a 10b5-1 Trading Plan for taxes.
F3 This price represents the weighted average purchase price for multiple transactions reported on this line. The price of the transactions reported on this line range between $32.73 to $33.25 per share. Upon request by the Commission staff, the issuer or a security holder of the issuer, the reporting person will undertake to provide full information regarding the number of shares purchased at each separate price within the range.