Form 4: Packaging Corp of America SVP Donald R. Shirley Reports Stock Award and Tax Withholding
SEC Form 4 Filing
Donald R. Shirley, SVP of Packaging Corp of America, reports acquisition of shares from performance units and subsequent disposal for tax withholding.
Summary
- On March 25, 2024, Donald R. Shirley, SVP of Packaging Corp of America, acquired 4,871 shares of common stock due to the payout of total stockholder return performance units awarded in 2021, including dividend equivalents.
- On the same day, Shirley disposed of 1,918 shares to cover the withholding tax obligation associated with the transaction at a price of $187.31 per share.
- Following these transactions, Shirley directly owns 29,725 shares of common stock and indirectly owns 6,181 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports routine stock transactions related to executive compensation and tax obligations.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates the vesting of performance-based equity awards and the subsequent sale of shares to cover tax obligations, which is a common practice.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they represent a small percentage of the total outstanding shares.
Key Dates
| Date | Description |
|---|---|
| 03/25/2024 | Acquisition of 4,871 shares of common stock from performance units. |
| 03/25/2024 | Disposal of 1,918 shares to cover tax withholding obligation at $187.31 per share. |
| 03/27/2024 | Date of signature by attorney in fact. |
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