Form 4: Ranpak Holdings Corp. CEO Omar Asali Reports Acquisition of Performance-Based Restricted Stock Units

CEO and Executive Chairman of Ranpak Holdings Corp., Omar Asali, reports the acquisition of 93,777 Class A Common Stock units and adjustments to his beneficial ownership.

Summary

• On March 14, 2024, Omar Asali, CEO and Executive Chairman of Ranpak Holdings Corp., acquired 93,777 shares of Class A common stock.
• These shares are performance-based restricted stock units (Performance RSUs) earned based on pre-established performance goals.
• The Performance RSUs vest in three equal installments on March 14, 2024, March 10, 2025, and March 10, 2026.
• Asali's direct holdings following the transaction amount to 2,650,310 shares.
• Asali also has indirect holdings through Vivoli Holdings (1,333,679 shares) and trusts for his children (343,220 shares each).
• Asali disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard regulatory filing detailing stock transactions by an executive. The acquisition of performance-based RSUs could be seen as a slightly positive signal, indicating confidence in the company's performance.

Positives

• The acquisition of performance-based restricted stock units suggests confidence in the company's future performance, as the units were earned based on pre-established performance goals.

Future Outlook

The earned Performance RSUs vest in three equal installments on each of March 14, 2024, March 10, 2025 and March 10, 2026.

Management Comments

• Mr. Asali controls Vivoli Holdings.
• The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
• These shares are held in trusts for which Mr. Asali's children are the beneficiaries and in respect of which Mr. Asali may be deemed to have beneficial ownership.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the holdings and transactions of company executives.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards to align management's interests with those of shareholders.
• The vesting schedule of the Performance RSUs (three equal installments over three years) is a typical structure for such awards.
• Similar companies like Sealed Air and Smurfit Kappa also utilize equity-based compensation for their executives.

Stakeholder Impact

• The acquisition of performance-based restricted stock units by the CEO could positively influence shareholder sentiment, as it aligns management's interests with the company's performance.

Key Dates