Form 4: Packaging Corp of America EVP & CFO Robert Mundy Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Robert Mundy, EVP & CFO of Packaging Corp of America, reports acquisition and disposal of common stock related to performance-based equity awards and tax obligations.
Summary
- On April 4, 2025, Robert Mundy, EVP & CFO of Packaging Corp of America, reported changes in beneficial ownership of the company's common stock.
- These changes involve the acquisition of 8,457 shares and 737 shares related to the vesting of TSR performance units and accumulated dividends, respectively.
- The performance was achieved at 187.4%.
- Additionally, 4,074 shares were disposed of to cover withholding tax obligations associated with the vesting of these equity awards at a price of $183.42.
- Following these transactions, Mundy directly owns 44,408 shares of Packaging Corp of America common stock.
Sentiment
Score: 7
Explanation: The document reflects positive performance leading to vesting of equity awards, but also includes share disposals for tax obligations, resulting in a neutral to slightly positive sentiment.
Positives
- The vesting of TSR performance units indicates that the company achieved a performance level of 187.4% against the set targets.
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common in publicly traded companies. It reflects the alignment of executive incentives with company performance.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards like TSR units to incentivize executives to achieve specific financial or strategic goals.
- The vesting of these awards and subsequent tax-related share disposals are standard practices.
- Companies like International Paper (IP) and WestRock (WRK) also utilize similar equity compensation plans for their executives.
Stakeholder Impact
- Shareholders may view the vesting of performance units as a positive sign, indicating that the company is achieving its performance goals.
- The disposal of shares to cover tax obligations has a neutral impact.
Key Dates
| Date | Description |
|---|---|
| 02/23/2022 | Date of the TSR performance units awarded to the reporting person |
| 04/04/2025 | Date of transaction and certification of performance measure attainment |
| 04/08/2025 | Date of signature for the Form 4 filing |
Keywords
beneficial ownership, Form 4, Robert Mundy, Packaging Corp of America, PKG, EVP & CFO, common stock, TSR performance units, equity awards, withholding tax
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