X0306 4 2019-05-14 0 0001441236 Clearwater Paper Corp CLW 0001184292 HUNT KEVIN J 601 WEST RIVERSIDE AVE. SUITE 1100 SPOKANE WA 99201 1 0 0 0 Phantom Common Stock 19.14 2019-05-14 4 A 0 5224.66 19.14 A Common Stock 5224.66 18531.63 D Phantom stock units are credited to the reporting person's account on the transaction date in accordance with the provisions of the Clearwater Paper Corporation Deferred Compensation Plan for Directors and will be converted to cash and paid on a 1-for-1 basis with the issuer's common stock. Phantom stock units will be converted to cash and paid upon the reporting person's termination from service with Clearwater Paper in accordance with the provisions of the Clearwater Paper Corporation Deferred Compensation Plan for Directors. Phantom stock unit beneficial ownership represents phantom stock allocated to the reporting person's Deferred Compensation Account since the reporting person's last report. These phantom stock allocations represent an annual award grant for service from May 1, 2019 through April 30, 2020. These phantom stock units will vest May 1, 2020. /s/ Carol K. Haugen, Attorney-in-Fact 2019-05-16