Form 4: Packaging Corp of America SVP Darla J. Olivier Reports Changes in Beneficial Ownership

Darla J. Olivier, SVP at Packaging Corp of America, reports acquisition and disposal of common stock related to performance-based compensation and tax obligations.

Summary

• On April 4, 2025, Darla J. Olivier, SVP of Packaging Corp of America, reported changes in beneficial ownership of the company's common stock.
• These changes involve the acquisition of 1,958 shares and 170 shares due to the attainment of performance measures under TSR performance units and accumulated dividends on vesting performance units, respectively.
• Olivier also disposed of 929 shares to cover withholding tax obligations associated with equity awards vesting on the transaction date.
• Following these transactions, Olivier beneficially owns 58,051 shares of Packaging Corp of America common stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive due to the achievement of performance targets, indicating good company performance. However, the disposal of shares for tax obligations slightly tempers the positive outlook.

Positives

• The attainment of the performance measure at 187.4% suggests strong performance by the company, leading to the vesting of TSR performance units.

Negatives

• The disposal of 929 shares to cover withholding tax obligations reduces the number of shares held by the reporting person.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, typical for publicly traded companies like Packaging Corp of America. It reflects the company's compensation policies and the alignment of executive incentives with company performance.

Comparison to Industry Standards

• Executive compensation structures involving performance-based equity awards are common across the packaging industry.
• Companies like International Paper (IP) and WestRock (WRK) also utilize similar long-term equity incentive plans to align executive compensation with shareholder value creation.
• The specific performance metrics and payout percentages vary by company, but the underlying principle of rewarding executives for achieving pre-defined goals is a standard practice.

Stakeholder Impact

• Shareholders may view the attainment of performance targets positively, as it suggests effective management and value creation.
• Employees may be motivated by the achievement of company goals and the resulting payouts to executives.

Key Dates

Keywords

beneficial ownership, Form 4, Packaging Corp of America, PKG, Darla J. Olivier, SVP, TSR performance units, equity awards, withholding tax, common stock