Form 4: Packaging Corp of America: CEO Mark W. Kowlzan Reports Changes in Beneficial Ownership

CEO Mark W. Kowlzan reports acquisition and disposal of Packaging Corp of America (PKG) common stock due to stock payout and tax withholding.

Summary

• On March 25, 2024, Mark W. Kowlzan, Chairman & CEO of Packaging Corp of America (PKG), reported changes in his beneficial ownership of the company's common stock.
• He acquired 28,915 shares through a payout of total stockholder return performance units awarded in 2021, including dividend equivalents, at a price of $0.00 per share.
• Simultaneously, 12,810 shares were disposed of at $187.31 per share to cover the withholding tax obligation associated with the payout.
• Following these transactions, Kowlzan directly owns 490,115 shares of common stock.
• He also indirectly owns 19,079 shares through a 401k plan and 2,565 shares held by his spouse, but disclaims beneficial ownership of the spouse's shares.

Sentiment

Score: 5

Explanation: The document reflects routine transactions related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Positives

• The acquisition of 28,915 shares indicates a payout of performance-based compensation, aligning executive incentives with shareholder returns.

Negatives

• The disposal of 12,810 shares to cover tax obligations, while standard, reduces the executive's holdings.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing is specific to the CEO's transactions and doesn't necessarily reflect broader industry trends.

Stakeholder Impact

• The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.

Key Dates