# EDGAR Filing Document

**Accession Number:** 0000106535
**File Stem:** 0001564590-23-000653
**Filing Date:** 2023-1
**Character Count:** 52908
**Document Hash:** 28393de6c4af5e029d7d19efcf9a9c2c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001564590-23-000653.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001564590-23-000653

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230118

**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**: 20230123

**DATE AS OF CHANGE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WEYERHAEUSER CO
- **CENTRAL INDEX KEY:** 0000106535
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **IRS NUMBER:** 910470860
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-04825
- **FILM NUMBER:** 23544911

**BUSINESS ADDRESS:**
- **STREET 1:** 220 OCCIDENTAL AVENUE SOUTH
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98104
- **BUSINESS PHONE:** 206-539-3000

**MAIL ADDRESS:**
- **STREET 1:** 220 OCCIDENTAL AVENUE SOUTH
- **CITY:** SEATTLE
- **STATE:** WA
- **ZIP:** 98104

?xml version="1.0" encoding="utf-8"? wy-8k_20230118.htm

[<u>**Table of Contents**</u>](#TABLE_OF_CONTENTS)

------

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

------

### FORM 8-K

------

#### CURRENT REPORT

#### Pursuant to Section 13 or 15(d) of the

#### Securities Exchange Act of 1934

#### Date of Report (Date of earliest event reported): January 18, 2023

------

## WEYERHAEUSER COMPANY

#### (Exact name of registrant as specified in charter)

------

---

| | | |
|:---|:---|:---|
| **Washington** | **1-4825** | **91-0470860** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification Number)** |

---

#### 220 Occidental Avenue South

#### Seattle, Washington 98104-7800

#### (Address of principal executive offices)

#### (zip code)

#### Registrant's telephone number, including area code:
(206) 539-3000

------

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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br> **Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $1.25 per share | WY | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934:

☐ Emerging growth company

☐ 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.

------

[<u>**Table of Contents**</u>](#TABLE_OF_CONTENTS)

#### **TABLE OF CONTENTS**

---

| | |
|:---|:---|
| Item 5.02 | [<u>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</u>](#ITEM_502) |
| Item 9.01 | [<u>Financial Statements and Exhibits</u>](#ITEM_901_FINANCIAL_STATEMENTS_EXHIBITS) |
|  | [<u>Signatures</u>](#SIGNATURES) |
| EXHIBIT 10.1 | [<u>Form of Weyerhaeuser Company Performance Share Unit Award Terms and Conditions</u>](wy-ex101_18.htm) |
| EXHIBIT 10.2 | [<u>Form of Weyerhaeuser Company Restricted Stock Unit Award Terms and Conditions</u>](wy-ex102_17.htm) |
| EXHIBIT 104 | Cover page interactive data file (embedded within the inline XBRL document). |

---

------

[<u>**Table of Contents**</u>](#TABLE_OF_CONTENTS)

#### Section 5 – Corporate Governance and Management

#### Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(e)On January 18, 2023, the Compensation Committee of the Weyerhaeuser Company Board of Directors approved new forms of terms and conditions for future performance share unit awards and restricted stock unit awards that may be granted to executive officers under the Weyerhaeuser Company 2022 Long-Term Incentive Plan. Copies of the new forms of performance share unit award terms and conditions and restricted stock unit award terms and conditions are filed as Exhibit 10.1 and Exhibit 10.2, respectively, to this report and incorporated herein by reference.

#### Section 9 - Financial Statements and Exhibits

#### Item 9.01. Financial Statements and Exhibits
(d) *Exhibits*.&nbsp;&nbsp;&nbsp;&nbsp; The following items are filed as exhibits with this report.

---

| | |
|:---|:---|
| <u>Exhibit No.</u> | <u>Description</u> |
| 10.1 | [<u>Form of Weyerhaeuser Company Performance Share Unit Award Terms and Conditions</u>](wy-ex101_18.htm) |
| 10.2 | [<u>Form of Weyerhaeuser Company Restricted Stock Unit Award Terms and Conditions</u>](wy-ex102_17.htm) |
| 104 | Cover page interactive data file (embedded within the inline XBRL document). |

---

------

[<u>**Table of Contents**</u>](#TABLE_OF_CONTENTS)

#### 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.

---

| | |
|:---|:---|
| WEYERHAEUSER COMPANY | WEYERHAEUSER COMPANY |
| By: | /s/ Kristy T. Harlan |
| Name: | Kristy T. Harlan |
| Its: | Senior Vice President, General Counsel and Corporate Secretary |

---

Date: January 23, 2023

## Exhibit 10.1

#### Exhibit 10.1

#### WEYERHAEUSER COMPANY

#### 2022 LONG-TERM INCENTIVE PLAN

#### 2023 PERFORMANCE SHARE UNIT AWARD

#### TERMS AND CONDITIONS (U.S.)
Pursuant to your Grant Notice (the "Grant Notice") and these Performance Share Unit Award Terms and Conditions, Weyerhaeuser Company has granted to you under its 2022 Long-Term Incentive Plan (the "Plan") the target number of Performance Share Unit Awards ("Awards") indicated in your Grant Notice at the market value indicated in your Grant Notice (the "Grant"). The Grant was made as of the date of the [Compensation Committee] [Board of Directors] action authorizing the Grant (the "Grant Date"). You may decline this Grant by notifying the Compensation and Benefits Department at <u>xmacctbened@weyerhaeuser.com</u> within one month of the Grant Date. If you decline this Grant, you will not be entitled to any award, benefit, or other compensation in lieu thereof.

Capitalized terms used but not defined in this document have the definitions given to such terms in the Plan. Awards represent the Company's unfunded and unsecured promise to issue shares of Company Common Stock to you at a future date based upon satisfaction of certain performance criteria, subject to the terms of this document and the Plan. You have no rights to or under the Awards other than the rights of a general unsecured creditor of the Company. In addition, the Awards have the following terms and conditions:

1. Earning and Vesting of Awards. You will earn the Awards granted to you only if the Company achieves certain business targets over a three-year performance period and, except as otherwise provided in Section 3, you remain employed by the Company or Related Company through the end of the performance period. The performance period begins on the Grant Date and ends on December 31st of the second year following the year of the Grant (the "Performance Period"). Except as otherwise provided herein, all Awards will vest on March 1<sup>st</sup> following the end of the Performance Period and will be earned within a range from 0% to 150% of target performance, subject to and based upon the Compensation Committee certifying the achievement of the performance measures set forth on <u>Appendix A</u> hereto in accordance with the methodology provided therein. Notwithstanding the foregoing, if the Company's absolute total shareholder return, as calculated in accordance with the methodology set forth in <u>Appendix A</u> ("TSR"), is negative over the Performance Period, then the maximum level of Awards that may be earned will be 100% of the target number of Awards. All determinations with respect to Awards will be made by the Compensation Committee, including the determination and certification of achievement of the performance measures set forth in <u>Appendix A</u> and the level of Awards earned.

2. Settlement of Awards. Upon vesting of Awards in accordance with Section 1, one share of Company Common Stock shall be issued for each earned Award that vests on such date (the "Shares"), subject to the terms of the Plan and this document. The Company will subtract from the vested Shares the whole number of Shares necessary to satisfy any required tax withholding obligations as described in Section 9 and transfer the balance of the vested Shares to you (known as "settlement"). No fractional Shares shall be issued under the Grant. The delivery of vested Shares shall occur as soon as practicable after the vesting date specified in Section 1, but in all events by a date which is within 30 days following such date, subject to Section 3.

------

**3.**Termination of Employment**; Retirement; Death; Disability; Change of Control.** In the event of your Termination of Service, including by reason of Retirement (as defined below), death or Disability or a Change of Control while Awards are outstanding, the following provisions will apply. Within 30 days following each applicable settlement date specified below, one share of Company Common Stock will be issued for each earned Award that is subject to settlement in accordance with the terms of the Plan and this document, subject to any tax withholding obligations as described in Section 9 and subject to Section 3(f).

(a) Retirement. If you experience a voluntary Termination of Service at age 62 or older (such termination being referred to herein as "Retirement"), and if clause (ii) in the second paragraph of Section 3(f) is not applicable, earned Awards will be settled according to the following schedule:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. If your Retirement occurs on or after the one-year anniversary of the Grant Date, 100% of the Awards will continue to be earned and settled in accordance with the provisions of Section 1 and Section 2 based on actual performance results for the applicable Performance Period, notwithstanding your termination of employment before the vesting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. If your Retirement occurs before the one-year anniversary of the Grant Date, the number of Awards will be pro-rated based on the number of months you worked after the Grant Date as follows: (x) the actual number of Awards earned as of the end of the Performance Period multiplied by (y) a fraction, the numerator of which is the number of months worked after the Grant Date (and before your retirement) and the denominator of which is 12. The remaining Awards will be forfeited, and no Shares will be issued or issuable with respect to such forfeited portion of the Awards. The pro-rated portion of the Awards will be earned based on actual performance results for the Performance Period and continue to vest and be settled as provided in Sections 1 and 2 above.

(b) Termination Due to Job Elimination. If you experience a Termination of Service due to the elimination of your position (i.e., the role or function you occupy) with the Company or any Related Company, and if neither Section 3(d) nor clause (ii) in the second paragraph of Section 3(f) is applicable, the Awards will continue to vest for one year following your Termination of Service and the earned and vested Awards will be settled as provided in Section 2. Any unvested Awards as of the one-year anniversary of your termination date will be forfeited and no Shares will be issued or issuable or other compensation payable with respect to such unvested Awards. For the avoidance of doubt, if your Termination of Service by reason of the elimination of your position with the Company or any Related Company occurs more than one year before the scheduled vesting date, then all Awards with respect to the Performance Period will be forfeited and no Shares will be issued or issuable or other compensation payable with respect to such forfeited Awards.

(c) Termination for Other Reasons. If you experience a Termination of Service before any of the Awards are earned and vested as provided in Section 1 and none of the other provisions of this Section 3 apply, any Awards that are not vested on the date of your termination are immediately forfeited and no Shares will be issued or issuable or other compensation payable with respect to such forfeited portion of the Awards.

------

***(d) Termination for Cause.* If your employment or service relationship is terminated for Cause (defined below), then notwithstanding anything to the contrary herein, including but not limited to Section 3(a), any outstanding Awards will be immediately forfeited at the time the Company or Related Company first notifies you of your termination for Cause and no Shares will be issued or issuable or other compensation payable with respect to such forfeited Awards. In addition, if your employment or service relationship is suspended pending an investigation of whether you will be terminated for Cause, settlement of all outstanding Awards may be suspended during such period of investigation to the extent permissible under Section 409A of the U.S. Internal Revenue Code of 1986, as amended ("Section 409A"). If, at the conclusion of such investigation, your employment or service relationship is terminated for Cause, all outstanding Awards shall be immediately forfeited as provided above and you shall be required to promptly repay to the Company any Shares relating to such Awards that were previously paid to you during the period of investigation. If any facts that would constitute termination for Cause are discovered after your Termination of Service, any outstanding Awards may be immediately terminated by the Compensation Committee.***

"Cause" means: (i) willful and continued failure to perform substantially your duties with the Company or any Related Company after the Company or Related Company delivers to you written demand for substantial performance specifically identifying the manner in which you have not substantially performed your duties; (ii) conviction of a felony; or (iii) willfully engaging in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company or any Related Company.

(e) Death or Disability. In the event of your death or Disability while actively employed, all of the Awards will continue to be earned and settled in accordance with the provisions of Section 1 and Section 2 based on actual performance results for the Performance Period, notwithstanding your Termination of Service before the vesting date. In the event of your death, payment will be made to your estate. "Disability" means a disability as defined in Treas. Reg. § 1.409A-3(i)(4) (or successor provisions).

(f) Change of Control. If a Change of Control occurs before the end of the Performance Period, the target performance level of the Award will be deemed to have been achieved and you will be deemed to have earned the Award at a payout percentage of 100% of target Awards.

Following a Change of Control, the earned Awards will vest as set forth in Section 1 (i.e., all Awards will vest on March 1<sup>st</sup> following the end of the Performance Period if you remain employed on that date) and be settled as set forth in Section 2, subject to the following provisions of this Section 3(f) and Section 15:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If and to the extent the Awards are not converted, assumed, substituted for or replaced by the successor entity to the Company, your then-outstanding earned Awards will immediately vest in full as of the effective date of the Change of Control and shall be settled in cash in amount equal to the Fair Market Value of one share of Common Stock on the date of the Change of Control times the number of the earned Awards. The amount shall be accumulated with interest compounded annually from the date of the Change of Control until the settlement date at a rate of 120 percent of the Federal mid-term rate (as in effect under section 1274 of the Code for the month in which the Change

------

of Control occurs). Settlement will be made as provided in Section 2 that would apply absent this Section 3(f) or, if earlier, at the time of your separation from service as specified in clause (ii) below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If and to the extent the Awards are converted, assumed, substituted for or replaced by the successor entity to the Company and you separate from service within two years following the effective date of a 409A Change of Control (defined below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the earned Awards will immediately vest in full as of the date of your separation from service, provided that such separation is either an involuntary separation by the Company other than for Cause (as defined in Section 3(d)) or a voluntary separation by you for Good Reason (as defined below); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the earned Awards, to the extent vested (or, in the case of a retirement, that will vest following retirement), shall be settled as of the date of your separation from service.

(iii) For purposes of this Section 3(f), a "separation from service" by the Company includes a separation from service by any Related Company and any successor entity, and a "409A Change of Control" means a Change of Control that also qualifies as a "change in control event" for purposes of Treas. Reg. § 1.409A-3(i)(5).

"Good Reason" means, without your express written consent, the occurrence of any one or more of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. a material reduction in your authority, duties, or responsibilities existing immediately prior to the Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. within two years following a Change of Control, the Company's requiring you to be based at a location that is at least 50 miles farther from your primary residence immediately prior to a Change of Control than is such residence from the Company's headquarters immediately prior to a Change of Control, except for required travel on the Company's business to an extent substantially consistent with your business obligations as of the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. a material reduction by the Company of your base salary as in effect immediately prior to the Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. a material reduction in the benefits coverage in the aggregate provided to you immediately prior to the Change of Control; provided, however, that reductions in the level of benefits coverage will not be deemed to be "Good Reason" if your overall benefits coverage is substantially consistent with the average level of benefits coverage of other executives who have positions commensurate with your position at the acquiring company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. a material reduction in your level of participation, including your target-level opportunities, in any of the Company's short- and/or long-term incentive compensation plans in which you participate as of the Grant Date (for this purpose a material reduction shall be deemed to have occurred if the aggregate "incentive opportunities" are reduced by 10% or more), or a material increase in the relative difficulty of the measures used to

------

**determine the payouts under such plans; provided, however, that reductions in the levels of participation or increase in relative difficulty of payout measures will not be deemed to be "Good Reason" if your reduced level of participation or difficulty of measures in each such program remains substantially consistent with the level of participation or difficulty of the measures of some or all other executives who have positions commensurate with your position at the acquiring company.**

In no event will your resignation be for Good Reason unless: (A) an event set forth above has occurred and you provide the Company with written notice thereof within 30 days after you have knowledge of the occurrence or existence of such event, which notice specifically identifies the event that you believe constitutes Good Reason; (B) the Company fails to correct the event so identified in all material respects within 30 days after receipt of such notice; and (C) your resignation occurs within two years after the occurrence of such event and the 409A Change of Control.

4. Dividends. Except as otherwise specifically provided in this document, you will not be entitled to any rights of a shareholder with respect to any outstanding Awards. Notwithstanding the foregoing, if the Company declares and pays dividends on Common Stock during the time period when Awards are outstanding, you will be credited with additional amounts for each Award equal to the dividend that would have been paid with respect to such Award if it had been an actual share of Common Stock, which amount shall remain subject to any restrictions (and as determined by the Administrator may be reinvested in Awards or may be accrued as cash with or without interest) and shall vest and be paid concurrently with the vesting and payment of the Awards upon which such dividend equivalent amounts were paid based on actual performance results.

5. No Rights as Shareholder until Vesting and Issuance of Shares. You will not have any voting or any other rights as a shareholder of Common Stock with respect to the outstanding Awards. Upon vesting of the Awards and issuance of shares of Common Stock, you will obtain full voting and other rights as a shareholder of the Company.

6. Securities Law Compliance. Notwithstanding any other provision of this document, you may not sell the Shares acquired upon vesting and issuance of the Awards unless such Shares are registered under the Securities Act of 1933, as amended (the "Securities Act"), or, if such Shares are not then so registered, such sale is exempt from the registration requirements of the Securities Act. The sale of such Shares must also comply with other applicable laws and regulations governing the Shares and you may not sell the Shares if the Company determines that such sale would not be in material compliance with such laws and regulations.

7. Non-Transferability of Awards. Notwithstanding any other provision of this document, you may not sell, pledge, assign, hypothecate, transfer or dispose of the Awards in any manner prior to the distribution to you of Shares in respect of such Awards. Awards shall not be subject to execution, attachment or other process. Notwithstanding the foregoing, pursuant to Section 3(e), Shares may be issued to your estate in the event of your death.

------

**8.**Independent Tax Advice. Determining the actual tax consequences of the receipt, vesting or disposition of the Awards or Shares may be complicated. These tax consequences will depend, in part, on your specific situation and also may depend on the resolution of currently uncertain tax law and other variables not within the control of the Company. You should consult a competent and independent tax advisor independent of the Company to obtain tax advice concerning the specific tax consequences to you of the receipt, vesting or disposition of Awards or Shares in light of your specific situation.

9. Taxes and Withholding. You are ultimately liable and responsible for all taxes owed in connection with the Awards, including federal, state, local, or foreign taxes of any kind required by law, regardless of any action the Company takes with respect to any tax withholding obligations that arise in connection with the Awards. The Company makes no representation or undertaking regarding your payment of taxes and the treatment of any tax withholding in connection with the Awards. The Company does not commit and is under no obligation to structure the Awards to reduce or eliminate your tax liability.

When an event occurs in connection with the Awards (e.g., vesting) that the Company determines results in any federal, state, local or foreign tax withholding obligations, ("tax withholding obligations"), to the extent permitted by Section 409A and applicable law, the Company may retain without notice from Shares issuable under the Awards or from salary or other amounts payable to you, whole Shares or cash having a value sufficient to satisfy your tax withholding obligations, as set forth in the Plan; provided that such tax withholding obligations shall be satisfied by: first, retaining Shares issuable under the Awards; second, to the extent such Shares are insufficient, retaining any cash payable under the Awards; and third, to the extent the foregoing amounts are insufficient, retaining salary or other amounts payable to you.

The Company may refuse to issue any Shares to you until your tax withholding obligations are satisfied. You should be aware that, in accordance with the Plan, a delay in satisfying your tax withholding obligations could cause a forfeiture of the Shares.

10. Grant Not an Employment or Service Contract. Nothing in the Plan or any Award granted under the Plan will be deemed to constitute an employment contract or confer or be deemed to confer any right for you to continue in the employ of, or to continue any other relationship with, the Company or any Related Company or limit in any way the right of the Company or any Related Company to terminate your employment or other relationship at any time, with or without cause.

11. No Right to Damages. You will have no right to bring a claim or to receive damages if any portion of the Grant is forfeited. The loss of existing or potential profit in Awards will not constitute an element of damages in the event of your termination of service for any reason even if the termination is in violation of an obligation of the Company or a Related Company to you.

12. Binding Effect. The terms and conditions of the Grant will inure to the benefit of the successors and assigns of the Company and be binding upon you and your heirs, executors, administrators, successors and assigns.

------

**13.**Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. (a) All Awards under the Plan are discretionary in nature and may be suspended or terminated by the Company at any time. (b) Each Grant is a one-time benefit that does not create any contractual or other right to receive future grants of Awards. (c) All determinations with respect to any such future grants, including, but not limited to, the times when grants will be made, the number of Awards subject to each grant, the grant price, vesting and other terms applicable to the grant, and the time or times when each grant will be exercisable or settled, will be at the sole discretion of the Company. (d) Your participation in the Plan is voluntary. (e) The value of the Grant is an extraordinary item of compensation that is outside the scope of your employment contract, if any. (f) The Grant is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. (g) Except as may otherwise be explicitly provided in the terms and conditions of the Grant, the vesting of the Awards ceases upon your Termination of Service for any reason and any unvested Awards will be forfeited. (h) The future value of the Shares underlying the Awards is unknown and cannot be predicted with certainty.

14. Employee Data Privacy. By accepting this Grant, you: (a) authorize the Company (and your employer, if different, and any agent of the Company administering the Plan or providing Plan recordkeeping services) to disclose to the Company or any of its affiliates, and their respective agents in connection with administering the Plan, any information and data the Company requests (including personal data) in order to facilitate the grant of the Award and the administration of the Plan; (b) agree that the Company (and your employer, if different, and any of their respective agents in connection with administering the Plan) may act as a data controller and/or data processor with respect to such information and data and waive to the maximum extent permissible by law any data privacy rights you may have with respect to such information and data; and (c) authorize the Company and its agents to store and transmit such information, including in electronic form, to its affiliates or agents in any country (including countries which may not provide for data protection equivalent to the United States).

15. Compliance with Code Section 409A. To the extent that the Company determines that the Awards are subject to or exempt from Code Section 409A, this document will be interpreted, operated and administered accordingly and subject to the Terms of the Plan, including section 16.5 of the Plan.

------

#### Appendix A

#### [Plan Year] Performance Share Unit Awards Performance Measures

## Exhibit 10.2

#### Exhibit 10.2

#### WEYERHAEUSER COMPANY

#### 2022 LONG-TERM INCENTIVE PLAN

#### 2023 RESTRICTED STOCK UNIT AWARD

#### TERMS AND CONDITIONS
Pursuant to your Grant Notice (the "Grant Notice") and these Restricted Stock Unit Award Terms and Conditions, Weyerhaeuser Company has granted to you under its 2022 Long-Term Incentive Plan (the "Plan") the number of restricted stock unit awards ("Awards") indicated in your Grant Notice at the market value indicated in your Grant Notice (the "Grant"). The Grant was made as of the date of the [Compensation Committee] [Board of Directors] action authorizing the Grant (the "Grant Date"). You may decline this Grant by notifying the Compensation and Benefits Department at <u>xmacctbened@weyerhaeuser.com</u> within one month of the Grant Date. If you decline this Grant, you will not be entitled to any award, benefit, or other compensation in lieu thereof.

Capitalized terms used but not defined in this document have the definitions given to such terms in the Plan. Awards represent the Company's unfunded and unsecured promise to issue shares of Company Common Stock to you at a future date, subject to the terms of this document and the Plan. You have no rights to or under the Awards other than the rights of a general unsecured creditor of the Company. In addition, the Awards have the following terms and conditions:

1. Vesting. Subject to the provisions of Section 3 and the other provisions set forth herein, the Awards shall be vested in accordance with the following schedule:

---

| | |
|:---|:---|
| **Date**<br>| **Percentage of Awards Vested** |
| Prior to March 1, [Year] | 0% |
| March 1, [Year] | 25% |
| March 1, [Year] | 50% |
| March 1, [Year] | 75% |
| March 1, [Year] | 100% |

---

The vesting of Awards as set forth herein is conditioned on your continued employment by the Company or a Related Company, except to the extent set forth in Section 3.

150924349.1 ------

***2.***Settlement of Awards. Upon each vesting of Awards in accordance with Section 1, one share of Company Common Stock shall be issued for each Award that vests on such date (the "Shares"), subject to the terms of the Plan and this document. The Company will subtract from the vested Shares the whole number of Shares necessary to satisfy any required tax withholding obligations as described in Section 9, and transfer the balance of the vested Shares to you (known as "settlement"). No fractional Shares shall be issued under the Grant. The delivery of vested Shares shall occur as soon as practicable after the vesting date specified in Section 1, but in all events by a date which is within 30 days following such date, subject to Section 3.

3. Termination of Employment; Retirement; Death; Disability; Change of Control. In the event of your Termination of Service, including by reason of Retirement (as defined below), death or Disability or a Change of Control while Awards are outstanding, the following provisions will apply. Within 30 days following each applicable settlement date specified below, one Share will be issued for each Award that is subject to settlement in accordance with the terms of the Plan and this document, subject to any tax withholding obligations as described in Section 9 and subject to Section 3(f).

(a)Retirement. If you experience a voluntary Termination of Service at age 62 or older (such termination being referred to herein as "Retirement") and if neither Section 3(d) nor clause (ii) in the second paragraph of Section 3(f) is applicable, the Awards will vest and be settled according to the following schedule:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. If your Retirement occurs on or after the one-year anniversary of the Grant Date, 100% of the Awards will continue to vest and be settled as provided in Sections 1 and 2 above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. If your Retirement occurs before the one–year anniversary of the Grant Date, the number of Awards will be pro-rated based on the number of months you worked after the Grant Date as follows: (x) the original number of Awards indicated in the Grant Notice multiplied by (y) a fraction, the numerator of which is the number of months worked after the Grant Date (and before your Retirement) and the denominator of which is 12. The remaining Awards will be forfeited, and no Shares will be issued or issuable with respect to such forfeited portion of the Awards. The pro-rated portion of the Awards will continue to vest and be settled as provided in Sections 1 and 2 above.

(b)Termination Due to Job Elimination. If you experience a Termination of Service due to the elimination of your position (i.e., the role or function you occupy) with the Company or any Related Company, and if neither Section 3(d) nor clause (ii) in the second paragraph of Section 3(f) is applicable, the Awards will continue to vest for one year following your Termination of Service and the vested Awards will be settled as provided in Section 2. The remaining unvested portion of the Awards as of the one-year anniversary of your termination date will be forfeited and no Shares will be issued or issuable or other compensation payable with respect to such forfeited portion of the Awards.

(c)Termination for Other Reasons. If you experience a Termination of Service before the Awards vest as provided in Section 1 and none of the other provisions of this Section 3 apply, any Awards that are not vested on the date of your Termination of Service will be immediately

150924349.1 ------

#### forfeited and no Shares will be issued or issuable or other compensation payable with respect to such forfeited portion of the Awards .
(d)Termination for Cause. If your employment or service relationship is terminated for Cause (defined below), then notwithstanding anything to the contrary herein, including but not limited to, Section 3(a), any outstanding Awards will be immediately forfeited at the time the Company or Related Company first notifies you of your termination for Cause and no Shares will be issued or issuable or other compensation payable with respect to such forfeited Awards. In addition, if your employment or service relationship is suspended pending an investigation of whether you will be terminated for Cause, settlement of all outstanding Awards may be suspended during such period of investigation to the extent permissible under Section 409A of the U.S. Internal Revenue Code of 1986, as amended ("Section 409A"). If, at the conclusion of such investigation, your employment or service relationship is terminated for Cause, all outstanding Awards shall be immediately forfeited as provided above and you shall be required to promptly repay to the Company any Shares relating to such Awards that were previously paid to you during the period of investigation. If any facts that would constitute termination for Cause are discovered after your Termination of Service, any outstanding Awards may be immediately terminated by the Compensation Committee.

"Cause" means: (i) willful and continued failure to perform substantially your duties with the Company or any Related Company after the Company or Related Company delivers to you written demand for substantial performance specifically identifying the manner in which you have not substantially performed your duties; (ii) conviction of a felony; or (iii) willfully engaging in illegal conduct or gross misconduct that is materially and demonstrably injurious to the Company or any Related Company.

(e)Death or Disability. In the event of your death or Disability while actively employed, all of the outstanding Awards will immediately vest. Subject to Section 15, all Awards not already settled as provided in Section 2 above will be settled as of the date of your death or Disability. In the event of your death, payment will be made to your estate. "Disability" means a "disability" as defined in Treas. Reg. § 1.409A-3(i)(4) (or successor provisions).

(f)Change of Control. If a Change of Control occurs, the Awards will vest and be settled as follows, subject to Section 15:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) If and to the extent the Awards are not converted, assumed, substituted for or replaced by the successor entity to the Company, the then-outstanding Awards will immediately vest in full as of the effective date of the Change in Control and shall be settled in cash in an amount equal to the Fair Market Value of one share of Common Stock on the date of the Change of Control times the number of Shares. The amount shall be accumulated with interest compounded annually from the date of the Change of Control until the settlement date at a rate of 120 percent of the Federal mid-term rate (as in effect under section 1274 of the Code for the month in which the Change of Control occurs). Settlement will be made as provided in Section 2 that would apply absent this Section 3(f) or, if earlier, at the time of your separation from service as specified clause (ii) below.

150924349.1 ------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) If and to the extent the Awards are converted, assumed, substituted for or replaced by the successor entity to the Company and you separate from service within two years following the effective date of a 409A Change of Control (defined below):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) the Awards will immediately vest in full as of the date of your separation from service, provided that such separation is either an involuntary separation by the Company other than for Cause (as defined in Section 3(d)) or a voluntary separation by you for Good Reason (as defined below); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Awards, to the extent vested (or, in the case of a retirement, that will vest following retirement), shall be settled as of the date of your separation from service.

(iii) For purposes of this Section 3(f), a "separation from service" by the Company includes a separation from service by any Related Company and any successor entity, and a "409A Change of Control" means a Change of Control that also qualifies as a "change in control event" for purposes of Treas. Reg. § 1.409A-3(i)(5).

"Good Reason" means, without your express written consent, the occurrence of any one or more of the following events:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. a material reduction in your authority, duties, or responsibilities existing immediately prior to the Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. within two years following a Change of Control, the Company's requiring you to be based at a location that is at least 50 miles farther from your primary residence immediately prior to a Change of Control than is such residence from the Company's headquarters immediately prior to a Change of Control, except for required travel on the Company's business to an extent substantially consistent with your business obligations as of the Grant Date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. a material reduction by the Company of your base salary as in effect immediately prior to the Change of Control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. a material reduction in the benefits coverage in the aggregate provided to you immediately prior to the Change of Control; provided, however, that reductions in the level of benefits coverage will not be deemed to be "Good Reason" if your overall benefits coverage is substantially consistent with the average level of benefits coverage of other executives who have positions commensurate with your position at the acquiring company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v. a material reduction in your level of participation, including your target-level opportunities, in any of the Company's short- and/or long-term incentive compensation plans in which you participate as of the Grant Date (for this purpose a material reduction shall be deemed to have occurred if the aggregate "incentive opportunities" are reduced by 10% or more), or a material increase in the relative difficulty of the measures used to determine the payouts under such plans; provided, however, that reductions in the levels of participation or increase in relative difficulty of payout measures will not be deemed to

150924349.1 ------

**be "Good Reason" if your reduced level of participation or difficulty of measures in each such program remains substantially consistent with the level of participation or difficulty of the measures of some or all other executives who have positions commensurate with your position at the acquiring company.**

In no event will your resignation be for Good Reason unless: (A) an event set forth above has occurred and you provide the Company with written notice thereof within 30 days after you have knowledge of the occurrence or existence of such event, which notice specifically identifies the event that you believe constitutes Good Reason; (B) the Company fails to correct the event so identified in all material respects within 30 days after receipt of such notice; and (C) you resign within two years after the occurrence of such event and the 409A Change of Control.

4. Dividends. Except as otherwise specifically provided in this document, you will not be entitled to any rights of a shareholder with respect to any outstanding Awards. Notwithstanding the foregoing, if the Company declares and pays dividends on Common Stock during the time period when Awards are outstanding, you will be credited with additional amounts for each Award equal to the dividend that would have been paid with respect to such Award if it had been an actual share of Common Stock, which amount shall remain subject to any restrictions (and as determined by the Administrator may be reinvested in Awards or may be accrued as cash with or without interest) and shall vest and be paid concurrently with the vesting and payment of the Awards upon which such dividend equivalent amounts were paid.

5. No Rights as Shareholder until Vesting and Issuance of Shares. You will not have any voting or any other rights as a shareholder of Common Stock with respect to the outstanding Awards. Upon vesting of the Awards and issuance of shares of Common Stock, you will obtain full voting and other rights as a shareholder of the Company.

6. Securities Law Compliance. Notwithstanding any other provision of this document, you may not sell the Shares acquired upon vesting and issuance of the Awards unless such Shares are registered under the Securities Act of 1933, as amended (the "Securities Act"), or, if such Shares are not then so registered, such sale is exempt from the registration requirements of the Securities Act. The sale of such Shares must also comply with other applicable laws and regulations governing the Shares and you may not sell the Shares if the Company determines that such sale would not be in material compliance with such laws and regulations.

7. Non-Transferability of Awards. Notwithstanding any other provision of this document, you may not sell, pledge, assign, hypothecate, transfer or dispose of the Awards in any manner prior to the distribution to you of Shares in respect of such Awards. Awards shall not be subject to execution, attachment or other process. Notwithstanding the foregoing, pursuant to Section 3(e), Shares may be issued to your estate in the event of your death.

8. Independent Tax Advice. Determining the actual tax consequences of the receipt, vesting or disposition of the Awards or Shares may be complicated. These tax consequences will depend, in part, on your specific situation and also may depend on the resolution of currently uncertain tax law and other variables not within the control of the Company. You should consult a competent and independent tax advisor independent of the Company to obtain tax advice

150924349.1 ------

#### concerning the specific tax consequences to you of the receipt, vesting or disposition of Awards or Shares in light of your specific situation.
9. Taxes and Withholding. You are ultimately liable and responsible for all taxes owed in connection with the Awards, including federal, state, local, or foreign taxes of any kind required by law, regardless of any action the Company takes with respect to any tax withholding obligations that arise in connection with the Awards. The Company makes no representation or undertaking regarding your payment of taxes and the treatment of any tax withholding in connection with the Awards. The Company does not commit and is under no obligation to structure the Awards to reduce or eliminate your tax liability.

When an event occurs in connection with the Awards (e.g., vesting) that the Company determines results in any federal, state, local, or foreign tax withholding obligations, ("tax withholding obligations"), to the extent permitted by Section 409A and applicable law, the Company may retain without notice from Shares issuable under the Awards or from salary or other amounts payable to you, whole Shares or cash having a value sufficient to satisfy your tax withholding obligations, as set forth in the Plan; provided that such tax withholding obligations shall be satisfied by: first, retaining Shares issuable under the Awards; second, to the extent such Shares are insufficient, retaining any cash payable under the Awards; and third, to the extent the foregoing amounts are insufficient, retaining salary or other amounts payable to you.

The Company may refuse to issue any Shares to you until your tax withholding obligations are satisfied. You should be aware that, in accordance with the Plan, a delay in satisfying your tax withholding obligations could cause a forfeiture of the Shares.

10. Grant Not an Employment or Service Contract. Nothing in the Plan or any Awards granted under the Plan will be deemed to constitute an employment contract or confer or be deemed to confer any right for you to continue in the employ of, or to continue any other relationship with, the Company or any Related Company or limit in any way the right of the Company or any Related Company to terminate your employment or other relationship at any time, with or without cause.

11. No Right to Damages. You will have no right to bring a claim or to receive damages if any portion of the Grant is forfeited. The loss of existing or potential profit in Awards will not constitute an element of damages in the event of your termination of service for any reason even if the termination is in violation of an obligation of the Company or a Related Company to you.

12. Binding Effect. The terms and conditions of the Grant will inure to the benefit of the successors and assigns of the Company and be binding upon you and your heirs, executors, administrators, successors and assigns.

13. Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. (a) All Awards under the Plan are discretionary in nature and may be suspended or terminated by the Company at any time. (b) Each Grant is a one-time benefit that does not create any contractual or other right to receive future grants of Awards. (c) All determinations with respect to any such future grants, including but not limited to, the times when grants will be made, the number of Awards subject to each grant, the grant price, vesting and other terms

150924349.1 ------

**applicable to the grant, and the time or times when each grant will be exercisable or settled, will be at the sole discretion of the Company. (d) Your participation in the Plan is voluntary. (e) The value of the Grant is an extraordinary item of compensation that is outside the scope of your employment contract, if any. (f) The Grant is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments. (g) Except as may otherwise be explicitly provided in the terms and conditions of the Grant, the vesting of Awards ceases upon your Termination of Service for any reason and any unvested Awards will be forfeited. (h) The future value of the Shares underlying the Awards is unknown and cannot be predicted with certainty.**

14. Employee Data Privacy. By accepting this Grant, you: (a) authorize the Company and your employer, if different, and any agent of the Company administering the Plan or providing Plan recordkeeping services, to disclose to the Company or any of its affiliates, and their respective agents in connection with administering the Plan, any information and data the Company requests (including personal data) in order to facilitate the grant of the Awards and the administration of the Plan; (b) agree that the Company (and your employer, if different, and any of their respective agents in connection with administering the Plan) may act as a data controller and/or data processor with respect to such information and data and waive to the maximum extent permissible by law any data privacy rights you may have with respect to such information and data; and (c) authorize the Company and its agents to store and transmit such information, including in electronic form, to its affiliates or agents in any country (including countries which may not provide for data protection equivalent to the United States).

15. Compliance with Code Section 409A. To the extent that the Company determines that the Awards are subject to or exempt from Code Section 409A, this document will be interpreted, operated and administered accordingly and subject to the terms of the Plan, including section 16.5 of the Plan.

150924349.1