Form 4: Packaging Corp of America Executive Reports Stock Transactions Following Performance Unit Vesting

Robert Andrew Schneider, SVP & CIO of Packaging Corp of America, reports acquisition and disposal of common stock related to vesting performance units and associated tax obligations.

Summary

• On February 28, 2024, Robert Andrew Schneider, SVP & CIO of Packaging Corp of America, reported transactions involving the company's common stock.
• These transactions include the acquisition of 1,785 shares due to the vesting of performance units awarded on February 25, 2020, with performance achieved at the 100% level.
• An additional 173 shares were acquired as a payout of accumulated dividends on the vesting performance units.
• 868 shares were disposed of to cover the withholding tax obligation associated with the equity awards vesting on the transaction date at a price of $176.36 per share.
• Following these transactions, Schneider directly owns 22,894 shares of common stock and indirectly owns 2,018 shares through a 401k plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document primarily reports routine stock transactions related to executive compensation. The vesting of performance units at 100% is a slightly positive indicator.

Positives

• The vesting of performance units at the 100% level indicates that the company met its performance goals.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.

Key Dates