Form 4: Pactiv Evergreen Inc. CEO Michael King Reports Stock Disposal for Tax Obligations
SEC Filing
Michael King, President and CEO of Pactiv Evergreen Inc., disposed of 27,371 shares of common stock on March 12, 2024, to cover tax obligations.
Summary
- On March 13, 2024, a Form 4 filing with the SEC was released, reporting a change in beneficial ownership of Pactiv Evergreen Inc. [PTVE] stock by Michael Jack King, the President and CEO.
- The transaction occurred on March 12, 2024, where 27,371 shares of common stock were disposed of at a price of $13.23 per share.
- This disposal was to cover tax obligations.
- Following the transaction, King directly owns 977,374 shares of Pactiv Evergreen Inc.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting a stock disposal for tax purposes, which is a neutral event.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common.
Stakeholder Impact
- The disposal of shares by the CEO could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the disposal.
Key Dates
| Date | Description |
|---|---|
| 03/12/2024 | Date of stock disposal transaction. |
| 03/13/2024 | Date of Form 4 filing. |
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