Samuel L. Hillard - 18 Feb 2022 Form 4 Insider Report for Glatfelter Corp (GLT)

Role
SVP, CFO
Signature
/s/ Jill L. Urey, Attorney-in-fact
Issuer symbol
GLT
Transactions as of
18 Feb 2022
Transactions value $
$95,287
Form type
4
Filing time
23 Feb 2022, 09:54:05 UTC
Previous filing
09 Feb 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GLT Common Stock, Par Value $.01 Options Exercise $135K +9.58K +19.29% $14.05* 59.2K 21 Feb 2022 Direct F1
transaction GLT Common Stock, Par Value $.01 Tax liability -$39.2K -2.79K -4.72% $14.05* 56.4K 21 Feb 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 +916 +10.58% 9.58K 21 Feb 2022 Common Stock, Par Value $.01 916 Direct F4, F5, F6
transaction GLT Restricted Stock Units Options Exercise -9.58K -100% 0 21 Feb 2022 Common Stock, Par Value $.01 9.58K Direct F1, F4
transaction GLT Restricted Stock Units Award $0 +28.8K $0.00 28.8K 18 Feb 2022 Common Stock, Par Value $.01 28.8K 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.