Form 4: Packaging Corp of America Executive VP Hassfurther Reports Stock Award and Tax Withholding

Executive Vice President Thomas A. Hassfurther of Packaging Corp of America reports acquisition of shares through performance units and subsequent disposal for tax obligations.

Summary

• On March 25, 2024, Thomas A. Hassfurther, Executive VP of Packaging Corp of America, acquired 20,000 shares of common stock due to a payout of total stockholder return performance units awarded in 2021, including dividend equivalents.
• On the same day, 7,871 shares were disposed of at a price of $187.31 to cover withholding tax obligations related to the stock award.
• Following these transactions, Hassfurther directly owns 199,776 shares of Packaging Corp of America.
• Hassfurther also indirectly owns 11,578 shares through a 401(k) plan, 53,862 shares through a spouse, and 34,293 shares through an investment entity.

Sentiment

Score: 6

Explanation: Neutral sentiment. The filing reflects routine transactions related to executive compensation and tax obligations. The acquisition of shares is a positive sign, but the disposal for tax purposes offsets some of that positive sentiment.

Positives

• The acquisition of 20,000 shares indicates confidence in the company's performance and future prospects.

Negatives

• The disposal of 7,871 shares, while for tax obligations, represents a reduction in the executive's direct holdings.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge sentiment and potential future actions of key executives.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.

Key Dates