Form 4: Packaging Corp of America SVP Donald R. Shirley Sells 8,000 Shares
SEC Form 4 Filing
Donald R. Shirley, SVP of Packaging Corp of America, sold 8,000 shares of common stock at an average price of $240.20 per share.
Summary
- Donald R. Shirley, a Senior Vice President at Packaging Corp of America, sold 8,000 shares of the company's common stock on November 12, 2024.
- The sale was executed at a weighted average price of $240.20 per share, with individual sales prices ranging from $239.31 to $240.84.
- Following the transaction, Mr. Shirley directly owns 15,725 shares and indirectly owns 6,232 shares through a 401(k) plan.
- A previous Form 4 filing on July 29, 2024, incorrectly stated the number of directly owned shares as 20,772 instead of the correct 23,725 shares prior to this transaction.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of an insider stock sale, which is neither positive nor negative in itself. The correction of a previous error is a neutral event.
Industry Context
This is a routine disclosure of an insider transaction, which is common for publicly traded companies. It does not indicate any specific trend in the packaging industry.
Comparison to Industry Standards
- Insider trading disclosures are a standard practice for all publicly listed companies, including Packaging Corp of America's competitors such as International Paper (IP) and WestRock (WRK).
- The sale of shares by an executive is a normal occurrence and does not necessarily indicate a negative outlook for the company.
- Similar filings are regularly made by executives at comparable companies, and the volume of shares sold is not unusual for an executive at this level.
Stakeholder Impact
- The stock sale by an executive may have a minor impact on shareholder sentiment, but it is unlikely to significantly affect the company's overall performance.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 07/29/2024 | Date of a previous Form 4 filing that incorrectly reported the number of shares owned. |
| 11/12/2024 | Date of the stock sale transaction by Donald R. Shirley. |
| 11/14/2024 | Date of the filing of this Form 4. |
Keywords
Packaging Corp of America, stock sale, insider trading, Form 4, PKG, executive transaction, share disposal
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