Form 4: Ranpak Holdings CEO Omar Asali Reports Changes in Beneficial Ownership

CEO Omar Asali reports acquisition of shares via restricted stock units and disposition of shares to cover tax liabilities.

Summary

• On March 5, 2024, Omar Asali, CEO and Executive Chairman of Ranpak Holdings Corp., acquired 92,026 shares of Class A common stock through a grant of restricted stock units (RSUs) at a price of $0.
• These RSUs are part of the Ranpak Holdings Corp. 2019 Omnibus Incentive Plan and will vest in two tranches: 50% on March 10, 2025, and the remaining 50% on March 10, 2026.
• On March 6, 2024, Asali disposed of 14,053 shares of Class A common stock at a price of $4.55 per share to cover tax liabilities related to the vesting of previously-granted performance-based restricted stock units.
• Following these transactions, Asali directly owns 2,556,533 shares of Class A common stock.
• Asali also indirectly owns 1,333,679 shares through Vivoli Holdings, and 343,220 shares each through trusts for his children, Michael Asali and Yasmeen Asali.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing reflects routine insider transactions related to compensation and tax obligations.

Positives

• The acquisition of 92,026 shares through RSUs indicates confidence in the company's future performance.

Negatives

• The disposal of 14,053 shares to cover tax liabilities, while a common practice, slightly reduces Asali's direct holdings.

Future Outlook

The RSUs will vest in two tranches, indicating a long-term incentive structure for the CEO.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be informative for investors.

Comparison to Industry Standards

• Insider transactions are common across publicly traded companies.
• The vesting schedule of the RSUs (March 10, 2025, and March 10, 2026) is a typical vesting period for executive compensation packages.
• Similar companies like Smurfit Kappa and WestRock also have insider transaction reporting requirements.

Stakeholder Impact

• The transactions provide transparency to shareholders regarding executive compensation and ownership.

Key Dates