Form 4: Packaging Corp of America CEO Reports Stock Transactions Following Performance Unit Vesting
SEC Form 4 Filing
Mark W. Kowlzan, Chairman & CEO of Packaging Corp of America, reports acquisition and disposal of common stock related to vesting performance units and tax obligations.
Summary
- On April 4, 2025, Mark W. Kowlzan, Chairman & CEO of Packaging Corp of America (PKG), reported transactions involving the company's common stock.
- These transactions are related to the vesting of TSR performance units awarded on February 23, 2022, with performance achieved at 187.4%.
- Kowlzan acquired 27,559 shares upon vesting of the performance units and an additional 2,404 shares representing accumulated dividends.
- The company withheld 13,274 shares to cover the withholding tax obligation associated with the vesting equity awards.
- Following these transactions, Kowlzan directly owns 462,378 shares of common stock.
- He also indirectly owns 19,568 shares through a 401k plan and 2,565 shares held by his spouse, for which he disclaims beneficial ownership.
Sentiment
Score: 7
Explanation: The sentiment is moderately positive due to the vesting of performance units at a high achievement level, indicating strong company performance. However, the tax withholding is a minor negative.
Positives
- The vesting of performance units indicates that the company achieved a significant level of performance, as the performance was achieved at 187.4%.
Negatives
- The disposal of 13,274 shares to cover tax obligations reduces the net gain from the vesting of performance units.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their holdings of company stock.
Stakeholder Impact
- Shareholders may view the vesting of performance units as a positive sign of company performance.
- The transactions have a minor impact on the overall shareholding structure.
Key Dates
| Date | Description |
|---|---|
| 2022/02/23 | Date of TSR performance units awarded to reporting person |
| 2025/04/04 | Date of stock transactions and certification of performance measure attainment |
| 2025/04/08 | Date of signature of the report by attorney in fact |
Keywords
stock transactions, Form 4, Packaging Corp of America, PKG, Kowlzan, performance units, vesting, insider trading, equity awards, tax withholding
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