Form 4: Pactiv Evergreen Director Linda K. Massman Reports Changes in Beneficial Ownership Following Merger

Director Linda K. Massman reports changes in beneficial ownership of Pactiv Evergreen Inc. stock due to the merger with Novolex Holdings, LLC, where each share was converted to $18.00 in cash.

Summary

• Linda K. Massman, a director of Pactiv Evergreen Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
• The changes occurred on April 1, 2025, due to the merger between Pactiv Evergreen and Alpha Lion Sub, Inc., a subsidiary of Novolex Holdings, LLC.
• As a result of the merger, each share of Pactiv Evergreen common stock and each unvested RSU, including dividend equivalent rights, was converted into the right to receive $18.00 in cash.
• Massman acquired 161 shares related to the settlement of dividend equivalent rights upon the accelerated vesting of her restricted stock units.
• Following the merger, Massman no longer directly owns shares of Pactiv Evergreen Inc.

Sentiment

Score: 5

Explanation: Neutral sentiment as the document primarily reports a transaction resulting from a merger, with no inherent positive or negative implications for the reporting person beyond the completion of the deal.

Future Outlook

The company is now a wholly-owned subsidiary of Novolex Holdings, LLC.

Industry Context

This announcement reflects a merger and acquisition activity within the packaging industry, where companies are often consolidated to achieve economies of scale or expand market presence.

Stakeholder Impact

• Shareholders received $18.00 in cash for each share of Pactiv Evergreen stock.
• Employees are now part of a wholly-owned subsidiary of Novolex Holdings, LLC.

Key Dates

Keywords

Form 4, beneficial ownership, Pactiv Evergreen, merger, Novolex Holdings, Linda K. Massman, PTVE, stock, RSU, dividend equivalent rights