<SEC-DOCUMENT>0001157523-20-000495.txt : 20200409
<SEC-HEADER>0001157523-20-000495.hdr.sgml : 20200409
<ACCEPTANCE-DATETIME>20200409171642
ACCESSION NUMBER:		0001157523-20-000495
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200409
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200409
DATE AS OF CHANGE:		20200409

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Clearwater Paper Corp
		CENTRAL INDEX KEY:			0001441236
		STANDARD INDUSTRIAL CLASSIFICATION:	PAPERBOARD MILLS [2631]
		IRS NUMBER:				203594554
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34146
		FILM NUMBER:		20785390

	BUSINESS ADDRESS:	
		STREET 1:		601 WEST RIVERSIDE AVENUE
		STREET 2:		SUITE 1100
		CITY:			SPOKANE
		STATE:			WA
		ZIP:			99201
		BUSINESS PHONE:		509.344.5900

	MAIL ADDRESS:	
		STREET 1:		601 WEST RIVERSIDE AVENUE
		STREET 2:		SUITE 1100
		CITY:			SPOKANE
		STATE:			WA
		ZIP:			99201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Potlatch Forest Products CORP
		DATE OF NAME CHANGE:	20080728
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a52201684.htm
<DESCRIPTION>CLEARWATER PAPER CORPORATION 8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Business Wire
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-size: 18pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="font-size: 8pt;">&#160;
      <hr noshade="noshade" align="center" style="height: 1pt; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">&#160;</div>
    <div style="text-align: center; font-size: 16pt; font-weight: bold; font-family: 'Times New Roman',Times,serif;">FORM 8-K</div>
    <div style="font-weight: 400; font-family: 'Times New Roman',Times,serif;"> <br>
    </div>
    <div>
      <div style="font-weight: 400; font-family: 'Times New Roman',Times,serif;">
        <hr noshade="noshade" align="center" style="height: 1pt; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: center; font-weight: bold;"> <br>
        </div>
        <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
      </div>
    </div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">Pursuant to Section 13 or 15(d) of the</div>
    <div style="text-align: center; font-weight: bold;">Securities Exchange Act of 1934</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported): April 9, 2020</div>
    <div><br>
    </div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1pt; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><font style="font-size: 18pt;">&#160;CLEARWATER PAPER CORPORATION</font><br>
      (Exact name of registrant as specified in its charter)</div>
    <div>&#160;</div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1pt; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
    </div>
    <div><br>
       </div>

    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z8ae4eb1b8ae84b6fbe6ad0807065dfb7">

        <tr>
          <td style="width: 35%; vertical-align: top;">
            <div style="text-align: center; font-size: 12pt; font-weight: bold;"><font style="font-size: 10pt;">Delaware</font><font style="font-size: 10pt;"><br>
              </font> <font style="font-size: 10pt;">(State or other jurisdiction</font><font style="font-size: 10pt;"><br>
              </font> <font style="font-size: 10pt;">of incorporation)</font></div>
          </td>
          <td style="width: 30%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">001-34146</div>
            <div style="text-align: center; font-weight: bold;">(Commission File Number)</div>
          </td>
          <td style="width: 35%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">20-3594554</div>
            <div style="text-align: center; font-weight: bold;">(IRS Employer<br>
              Identification No.)</div>
          </td>
        </tr>

    </table>

    <div><br>
       </div>

    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z54c1d521be2c46808806f95137310ae7">

        <tr>
          <td style="width: 65%; vertical-align: top;">
            <div style="text-align: center; margin-left: 1.8pt; font-weight: bold;">601 West Riverside Ave., Suite 1100</div>
            <div style="text-align: center; margin-left: 1.8pt; font-weight: bold;">Spokane, WA</div>
            <div style="text-align: center; margin-left: 1.8pt; font-weight: bold;">(Address of principal executive offices)</div>
          </td>
          <td style="width: 35%; vertical-align: top;">
            <div>&#160;</div>
            <div style="text-align: center; margin-left: 3.2pt; font-weight: bold;">99201</div>
            <div style="text-align: center; margin-left: 3.2pt; font-weight: bold;">(Zip Code)</div>
          </td>
        </tr>

    </table>

    <div><br>
       </div>

    <div style="text-align: center; font-weight: bold;">Registrant&#8217;s telephone number, including area code:&#160; (509) 344-5900</div>

    <div>&#160;</div>

    <div style="text-align: center; font-weight: bold;">Not Applicable</div>

    <div style="text-align: center; font-weight: bold;">(Former Name or Former Address, if Changed Since Last Report)</div>

    <div>
      <div><br>
         </div>
      <div>
        <hr noshade="noshade" align="center" style="height: 1pt; width: 25%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>

    <div>&#160;</div>

    <div>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):</div>

    <div>&#160;</div>

    <div>
      <div>
        <div style="font-family: 'Times New Roman',Times,serif;">
          <div>&#9744;&#160;&#160;&#160; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
        </div>
      </div>
    </div>

    <div>&#160;</div>

    <div>
      <div>
        <div style="font-family: 'Times New Roman',Times,serif;">
          <div>&#9744;&#160;&#160;&#160; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
        </div>
      </div>
    </div>

    <div>&#160;</div>

    <div>
      <div>
        <div style="font-family: 'Times New Roman',Times,serif;">
          <div>&#9744;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
        </div>
      </div>
    </div>

    <div>&#160;</div>

    <div>
      <div>
        <div style="font-family: 'Times New Roman',Times,serif;">
          <div>&#9744;&#160;&#160;&#160; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
        </div>
      </div>
    </div>

    <div><br>
    </div>

    <div>Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;&#8201;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;&#8201;240.12b-2
      of this chapter).</div>

    <div>&#160;</div>

    <div>Emerging growth company &#9744;</div>

    <div>&#160;</div>

    <div>If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act. &#9744;</div>

    <div style="text-align: center;">
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="z33b7337b0a4142b29eecc9d9a7d0285f">

            <tr>
              <td style="width: 100%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; text-align: left;">
                <div><br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="page-break-after: always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <!--PROfilePageNumberReset%Num%2%%%-->
      <div style="font-family: 'Times New Roman',Times,serif; text-align: left;"><font style="font-weight: bold;">Item 5.02.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain
          Officers; Compensatory Arrangements of Certain Officers</font> </div>
    </div>
    <div><br>
       </div>

    <div style="text-indent: 36pt;">The Board of Directors of Clearwater Paper Corporation (the &#8220;Company&#8221;) elected Michael J. Murphy as the Company&#8217;s Senior Vice President, Finance and Chief Financial Officer&#160;and designated him as the
      Company&#8217;s principal financial officer, effective April 13, 2020.&#160; Mr. Murphy replaces Robert G. Hrivnak in that capacity.&#160; Mr. Hrivnak&#8217;s departure is effective April 10, 2020.</div>

    <div><br>
       </div>

    <div style="text-indent: 36pt;">The Company and Mr. Murphy entered into an employment offer letter providing for, among other things, an annual base salary of $470,000 per year.&#160; Mr. Murphy will receive a competitive inducement award
      of restricted stock units (&#8220;RSUs&#8221;) with an approximate value of $350,000, which will fully vest on April 13, 2023 subject to his continued employment with the Company (with pro rata vesting upon disability or death and full vesting upon an
      involuntary termination of employment without cause or a voluntary termination for &#8220;good reason&#8221; within two years after a change of control).&#160; His 2020 target cash bonus under the Company&#8217;s annual incentive award plan will be 65% of his base salary.&#160;
      He will be eligible to receive annual long-term incentive awards for 2020 with a target value of $470,000, in accordance with the Company's long-term incentive program (as described in the Company's most recent definitive proxy statement) in the form
      of 70% performance shares with three-year cliff vesting and 30% time-vested RSU&#8217;s with three-year ratable vesting.</div>

    <div><br>
       </div>

    <div style="text-indent: 36pt;">Mr.&#160;Murphy will participate in the Company&#8217;s existing Executive Severance Plan and Change of Control Plan for executive employees (as described in the Company&#8217;s most recent proxy statement).</div>

    <div>&#160;</div>

    <div style="text-indent: 36pt;">Mr. Murphy, age 47, is a certified public accountant with twenty-five years of finance and executive experience.&#160; From January 2020 to April 2020, Mr. Murphy worked as an independent consultant for the
      Company assisting in long term strategic planning.&#160; Prior to joining Clearwater Paper, Mr. Murphy was the Chief Financial Officer of NxEdge, Inc., a parts manufacturer for the semiconductor and display industries, a position he held from April 2019
      to November 2019.&#160; He served KapStone Paper and Packaging Corporation, a publicly traded company, as Vice President Strategy and Strategic Initiatives from January 2016 to November 2018, and Vice President Finance from October 2014 to January 2016.&#160;
      He served as Treasurer and Vice President of Boise Inc., a paper and packaging publicly traded company, from 2012 to 2014.&#160; From 1997 to 2012, Mr. Murphy was with J.P. Morgan Securities LLC including as an Executive Director in his final position.&#160;
      Mr.&#160;Murphy received Bachelor of Science degrees in Chemical Engineering and Biomedical Engineering from Northwestern University and an MBA from the University of Chicago&#8217;s Booth School of Business.</div>

    <div><br>
       </div>

    <div style="text-indent: 36pt;">There are no arrangements or understandings between Mr.&#160;Murphy and any person other than the Company pursuant to which he was appointed as Senior Vice President, Finance and Chief Financial Officer.
      There is no family relationship between Mr.&#160;Murphy and any director or executive officer of the Company or any person nominated or chosen to become a director or executive officer of the Company. Mr.&#160;Murphy has no direct or indirect material interest
      in any transaction required to be disclosed pursuant to Item 404(a) of Regulation&#160;S-K.</div>

    <div><br>
       </div>

    <div style="text-indent: 36pt;">A copy of the press release announcing the appointment of Mr. Murphy is furnished with this report as Exhibit 99.1.</div>

    <div><br>
       </div>

    <div style="font-weight: bold;">Item 9.01.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits.</div>

    <div><br>
       </div>

    <div style="font-style: italic;">(d) Exhibit Index</div>

    <div><br>
       </div>

    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z82b0ac979865437db1fe7210c6bf5414">

        <tr>
          <td style="width: 15.22%; vertical-align: top;">
            <div style="text-align: justify; margin-left: 9pt;"><u>Exhibit</u></div>
          </td>
          <td style="width: 84.78%; vertical-align: top;">
            <div style="text-align: justify;"><u>Description</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 15.22%; vertical-align: top;">
            <div style="margin-left: 9pt">&#160;</div>
          </td>
          <td style="width: 84.78%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 15.22%; vertical-align: top;">
            <div style="margin-left: 9pt;"><a href="a52201684ex99_1.htm">99.1</a></div>
          </td>
          <td style="width: 84.78%; vertical-align: top;">
            <div><a href="a52201684ex99_1.htm">Press release issued by Clearwater Paper Corporation, dated April 9, 2020</a></div>
          </td>
        </tr>

    </table>

    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>

    <div>&#160;</div>

    <div style="text-indent: 36pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</div>

    <div>&#160;</div>

    <div style="text-indent: 36pt;">Date: April 9, 2020</div>

    <div style="font-family: 'Times New Roman',Times,serif;"><br>
    </div>
    <div style="font-family: 'Times New Roman',Times,serif;">
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;" id="zfb3128a21c6d43a0b51fbc81298b491a">

          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;" rowspan="1" colspan="3">
              <div>CLEARWATER PAPER CORPORATION</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td style="width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Michael S. Gadd</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%;">
              <div>&#160;</div>
            </td>
            <td style="width: 40%;">
              <div>Michael S. Gadd, Corporate Secretary</div>
            </td>
          </tr>

      </table>
      </div>
  </div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber"> <br>
    </font></div>
  <div style="text-align: center;" id="DSPFPageNumberArea"><font style="color: #000000; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a52201684ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Business Wire
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
  </div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div>
    <div class="bw-release">
      <div class="bw-release">
        <h1 style="text-align: center; list-style-position:inside;FONT-SIZE: 14pt;"> <b>Clearwater Paper Appoints Michael J. Murphy as Chief Financial Officer </b> </h1>
        <div class="bw-release-body">
          <div class="bw-release-table-js bw-release-story">
            <p>SPOKANE, Wash.--(BUSINESS WIRE)--April 9, 2020--<b>Clearwater Paper Corporation (NYSE: CLW) </b>today announced the appointment of Michael (Mike) J. Murphy as senior vice president and chief financial officer, effective April 13, 2020, to
              oversee the company&#8217;s finance and strategy functions. Mr. Murphy succeeds Robert (Bob) G. Hrivnak who will be leaving the company. </p>
            <p> Arsen S. Kitch, president and chief executive officer, said, &#8220;On behalf of the board, I am pleased to welcome Mike Murphy to Clearwater Paper. Mike is a respected leader who brings more than 25 years of paper industry and finance
              experience. His background in optimizing financial and business processes, paired with his strategic acumen, will help our team achieve near- and long-term opportunities. We look forward to Mike playing a vital role as we focus on ensuring
              continuous operations to serve the heightened, near-term demand for our essential goods, and longer term, as we focus on delivering strong financial performance and value creation for our shareholders.&#8221; </p>
            <p> Mr. Murphy joins Clearwater Paper from NxEdge, Inc., where he served as CFO. Prior to NxEdge, he held senior finance, risk management, and strategy positions with Kapstone Paper and Packaging and Boise, Inc. In addition to his industry
              experience, Mr. Murphy has over 17 years in investment banking with J.P. Morgan Securities and John Nuveen &amp; Co. He earned Bachelor of Science degrees in chemical engineering and biomedical engineering from Northwestern University and a
              Master of Business Administration with an emphasis on accounting and analytical finance from the University of Chicago Booth School of Business. Mr. Murphy is also a certified public accountant. </p>
            <p> "I'm honored to join Clearwater Paper," said Mr. Murphy. "The team has built a solid platform to deliver enhanced value, and I look forward to helping them capture the many opportunities ahead for the company." </p>
            <div> </div>
            <div style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt" id="DSPFPageBreakArea">
              <div style="PAGE-BREAK-AFTER: always" id="DSPFPageBreak">
                <hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000"> </div>
            </div>
            <p> Mr. Kitch added, &#8220;On behalf of the company, I want to thank Bob for his contributions and expertise. Over the past year, Bob has been instrumental in strengthening our internal controls and procedures and implementing a more rigorous
              process to our accounting and reporting practices. We wish Bob the best in his future endeavors.&#8221; </p>
            <p> <b>ABOUT CLEARWATER PAPER</b> </p>
            <p> Clearwater Paper manufactures quality consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard and pulp at manufacturing facilities across the nation. The company is a premier supplier of private label tissue to major
              retailers and wholesale distributors, including grocery, drug, mass merchants and discount stores. In addition, the company produces bleached paperboard used by quality-conscious printers and packaging converters, and offers services that
              include custom sheeting, slitting and cutting. Clearwater Paper's employees build shareholder value by developing strong partnerships through quality and service. </p>
            <p> <b>FORWARD-LOOKING STATEMENTS</b> </p>
            <p> This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the expected contributions and benefits of the new
              officer, product demand, the company&#8217;s operating and financial performance, strategies, and shareholder value. These forward-looking statements are based on current expectations that are subject to change, and actual results may differ
              materially from the forward-looking statements. Factors that could cause actual results to differ materially include those risks and uncertainties described from time to time in the company's public filings with the Securities and Exchange
              Commission. The company does not undertake to update any forward-looking statements based on new developments or changes to the company&#8217;s expectations. </p>
            <p style="text-align: center; list-style-position:inside;"> <b><i>For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.</i></b> </p>
          </div>
          <div class="bw-release-contact">
            <h2 style="FONT-SIZE: 14pt;">Contacts</h2>
            <p> <b>News media </b><br>
              Clearwater Paper Corporation <br>
              Shannon Myers, Sr. Director, Corporate Communications <br>
              Phone: 509-344-5967 <br>
              shannon.myers@clearwaterpaper.com </p>
            <p> <b>Investors </b><br>
              Solebury Trout <br>
              Sloan Bohlen <br>
              509.344.5906 <br>
              investorinfo@clearwaterpaper.com </p>
          </div>
        </div>
      </div>
    </div>
    <font style="font-weight: bold;"> </font></div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
