Eastman Chemical Company filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$EMN
Major Chemicals
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of The Securities Exchange Act of 1934
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(423 ) 229-2000
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Chris M. Killian, Senior Vice President - Chief Technology and Sustainability Officer, has provided notice that he plans to retire at the end of the year due to family and health considerations, effective as of December 31, 2025. In light of Mr. Killian’s retirement and to ensure a smooth transition, Stephen G. Crawford, former Executive Vice President of Methanolysis Operations and Worldwide Engineering and Construction Transformation, has agreed to return to Eastman Chemical Company (the “Company”) to provide leadership as Executive Vice President - Technology Projects, effective November 3, 2025. On January 1, 2026, Mr. Crawford will transition to the role of Executive Vice President - Chief Technology Officer and Chief Sustainability Officer. Mr. Crawford brings considerable experience, leadership and knowledge of the organization that will be critical through the transition.
Mr. Crawford will receive a base salary of $705,000, with the opportunity to earn an annual bonus (prorated for the current year) with a target value of 85% of such base salary. In addition, Mr. Crawford will receive a sign-on bonus of $800,000 to: (i) replace equity-based awards he would have received in February of 2025, had his prior position not been eliminated; and (ii) satisfy the Company’s obligations for remaining payments under his severance agreement dated May 1, 2025. Finally, Mr. Crawford will be eligible to receive a restricted stock unit award with a grant date fair value of $2,200,000 as a long-term incentive award for the 2026 plan cycle. The restricted stock unit award will be granted on or about January 2, 2026.
Mr. Crawford will be eligible to participate in the Company’s standard benefit programs for executives, including a Company match under the Eastman 401(k) plan, retirement savings contribution, and medical, vision, dental and life insurance.
Item 9.01 (d) Exhibits
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
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.
| Eastman Chemical Company | ||||||||
| By: | /s/ Iké G. Adeyemi | |||||||
| Iké G. Adeyemi | ||||||||
| Senior Vice President, Chief Legal Officer and Corporate Secretary | ||||||||
| Date: October 9, 2025 | ||||||||