Form 4: Packaging Corp of America SVP Bruce Ridley Reports Changes in Beneficial Ownership

Bruce Ridley, SVP of Packaging Corp of America, reports acquisition and disposal of common stock due to performance unit payouts and tax withholding.

Summary

• On February 28, 2024, Bruce Ridley, SVP of Packaging Corp of America, reported changes in beneficial ownership of the company's common stock.
• These changes are due to the payout of performance units awarded on February 25, 2020, and the withholding of shares to cover tax obligations.
• The performance units were achieved at the 100% level.
• Ridley acquired 1,785 shares from the performance units and 173 shares from accumulated dividends.
• The company withheld 921 shares to cover the withholding tax obligation at a price of $176.36 per share.
• Following these transactions, Ridley directly owns 14,232 shares and indirectly owns 985 shares through a 401(k) plan.

Sentiment

Score: 6

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

Positives

• The performance units awarded to Bruce Ridley were achieved at the 100% level, indicating strong performance.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they relate to executive compensation and do not indicate a change in the company's fundamentals.

Key Dates