Form 4: Pactiv Evergreen Inc. Officer Disposes of Shares in Merger Transaction

Chandra J. Mitchell, Chief Legal Officer & Secretary of Pactiv Evergreen Inc., reports the disposition of shares due to a merger, converting stock and unvested RSUs into cash.

Summary

• On April 1, 2025, Chandra J. Mitchell, Chief Legal Officer & Secretary of Pactiv Evergreen Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing reports transactions related to the merger between Pactiv Evergreen Inc. and Alpha Lion Sub, Inc., a subsidiary of Novolex Holdings, LLC.
• Mitchell disposed of 313,091 shares of common stock as a result of the merger.
• The merger agreement stipulated that each share of Pactiv Evergreen's common stock and each unvested RSU, including dividend equivalent rights, would be converted into the right to receive $18.00 in cash.
• Mitchell also acquired 2,052 shares through the settlement of dividend equivalent rights on accelerated vesting RSUs and 108,595 shares through accelerated vesting of PSUs granted in 2023 and 2024.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a merger, so the sentiment is neutral.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a merger transaction, which is a common occurrence in the packaging industry as companies seek to consolidate and achieve synergies.

Stakeholder Impact

• Shareholders received $18.00 in cash for each share of common stock.
• Employees with unvested RSUs also received $18.00 in cash per unit.

Key Dates

Keywords

Form 4, Merger, Pactiv Evergreen Inc., Beneficial Ownership, Disposition, Shares, Mitchell, Novolex, RSU, PSU