Form 4: Reynolds Consumer Products Executive Christopher Corey Reports Stock Transactions

Christopher Corey, President of Presto Products at Reynolds Consumer Products Inc., reports the vesting and subsequent tax withholding of restricted stock units, resulting in changes to his beneficial ownership of common stock.

Summary

• On February 1, 2025, Christopher Corey, President of Presto Products at Reynolds Consumer Products Inc., engaged in transactions involving common stock and restricted stock units (RSUs).
• These transactions included the vesting of RSUs and the subsequent withholding of shares to cover tax obligations.
• Specifically, 341, 1,678 and 3,652 RSUs vested, leading to the acquisition of corresponding shares of common stock.
• A portion of the acquired shares (95, 507 and 1,130 respectively) were then disposed of to satisfy tax withholding requirements at a price of $27.61 per share.
• Following these transactions, Corey's direct ownership of common stock changed from 2,673 to 2,578, then to 4,256, then to 3,749, then to 7,401 and finally to 6,271 shares.
• Corey also holds 12,903 Restricted Stock Units that vest over three years.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a factual report of insider activity.

Future Outlook

The remaining RSUs will vest on subsequent anniversaries of the grant date.

Industry Context

This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency to investors regarding management's holdings and transactions in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring transparency in executive stock transactions.
• Companies like Amcor and Berry Global also have executives who regularly file Form 4s related to stock options and RSU vesting.
• The tax withholding process described is a common practice across the industry to cover income tax obligations arising from the vesting of equity awards.

Stakeholder Impact

• Shareholders are informed about the insider transactions of a key executive.
• The transactions have a minor impact on the overall shareholding structure.

Key Dates