Form 4: Pactiv Evergreen Inc. CEO Michael King Reports Stock Transactions

Michael King, President and CEO of Pactiv Evergreen Inc., reports acquisition and disposal of common stock due to dividend equivalent rights and tax withholding.

Summary

• On March 2, 2024, Michael King, the President and CEO of Pactiv Evergreen Inc., acquired 14,278 shares of common stock due to the settlement of dividend equivalent rights upon the vesting of restricted stock units.
• On the same day, he disposed of 101,412 shares of common stock at a price of $13.26 for tax withholding purposes.
• Following these transactions, King directly owns 744,466 shares of Pactiv Evergreen Inc. common stock.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the transactions are related to standard executive compensation practices and do not necessarily indicate a change in the executive's outlook on the company.

Positives

• The acquisition of shares through dividend equivalent rights indicates a return of value to the executive based on the company's performance.

Negatives

• The disposal of a significant number of shares for tax withholding, while standard, reduces the executive's holdings.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors to gauge management's sentiment and confidence in the company's prospects.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.

Key Dates