Magnera Corp — Director's Dealing 2023

Mar 31, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Glatfelter Corp (GLT)
CIK: 0000041719
Period of Report: 2023-01-20

Reporting Person: CARLSON CAPITAL L P (10% Owner)
Reporting Person: Double Black Diamond Offshore Ltd (10% Owner)
Reporting Person: Black Diamond Arbitrage Offshore Ltd. (10% Owner)
Reporting Person: EDCA 2019 Fund, L.P. (10% Owner)
Reporting Person: Asgard Investment Corp. II (10% Owner)
Reporting Person: Carlson Clint Duane (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-20	Common Stock, par value $0.01 per share (the "Common Stock")	X	50000	$2.50	Acquired	5415000	Indirect
2023-03-29	Common Stock	P	500000	$3.0938	Acquired	5915000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-20	Stock Option (right to buy)	$2.50	X	50000	Disposed	2023-01-20	Common Stock (50000)	Indirect

Footnotes

F1: The shares of Common Stock to which this relates are held directly by Double Black Diamond Offshore Ltd., a Cayman Islands exempted company ("Double Offshore"), Black Diamond Arbitrage Offshore Ltd., a Cayman Islands exempted company ("Arbitrage") and EDCA 2019 Fund, L.P., a Delaware limited partnership ("EDCA," together with Double Offshore and Arbitrage, the "Funds"). Carlson Capital, L.P., a Delaware limited partnership ("Carlson Capital") serves as the investment manager to, and has the power to direct the affairs of, the Funds. Asgard Investment Corp. II, a Delaware corporation ("Asgard II") serves as the general partner of, and has the power to direct the affairs of, Carlson Capital. Mr. Clint D. Carlson, a U.S. citizen, serves as the president of, and has the power to direct the affairs of, Asgard II and Carlson Capital.

F2: (continued from footnote 1) Each of the reporting persons disclaims beneficial ownership of the securities to which this Form 4 relates for the purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, except as to such extent of the reporting person's pecuniary interest in the securities.

F3: Transaction reflects direct exercise by Double Offshore. The stock options were exercisable at any time before and including the date of its expiration.

F4: Transaction reflects direct acquisition by Double Offshore of 162,255 shares, by Arbitrage of 253,655 shares and by EDCA of 84,090 shares.