BALL Insider Report: 1,600 RSUs Granted; 461 Shares Sold at $49.91

Rhea-AI Filing Summary

Nate C. Carey, Vice President & Controller of Ball Corporation, reported two transactions dated 09/15/2025. The filing shows an acquisition of 1,600 restricted stock units (RSUs) recorded at $0, representing contingent rights to one share each that convert upon vesting; these RSUs vest on the fourth anniversary of the grant date. The filing also reports a sale of 461 shares of Ball common stock at $49.91 per share. After these transactions the report lists 12,288 shares beneficially owned by Mr. Carey. The RSUs were granted in conjunction with a Deposit Share Program and are disclosed as contingent until vesting.

Insights

Financial Analyst

TL;DR: Routine insider award plus a small sale; overall neutral for valuation.

The report documents a standard equity award (1,600 RSUs) and a modest disposition (461 shares at $49.91). The RSUs are contingent and vest after four years, so they do not immediately increase voting shares or liquidity. The sale represents roughly 3.7% of the post-transaction beneficial holding (12,288 shares), indicating a minor liquidity event rather than a material change in insider conviction. No debt transactions, option exercises or other compensation details are disclosed that would materially alter models.

Corporate Governance Expert

TL;DR: Compensation alignment through multi-year RSUs, sale appears routine and not governance-negative.

The 1,600 RSUs granted under the Deposit Share Program align executive compensation with long-term shareholder value because vesting occurs on the fourth anniversary. The contemporaneous sale of 461 shares at market price is small relative to total reported holdings and is consistent with routine portfolio management or diversification. There is no disclosure of hedging, pledging, or derivative positions that would raise governance concerns.

Insider Trade Summary

1,600 shares exercised/converted

Mixed 3 txns

Insider Carey Nate C

Role Vice President & Controller

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,600	$0.00	--
Exercise	Common Stock	1,600	$0.00	--
Tax Withholding	Common Stock	461	$49.91	$23K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Common Stock — 12,749 shares (Direct)

Footnotes (1)

1. N/A Each restricted stock unit represents a contingent right to receive one share of Ball Corporation Common Stock. Conversion upon vesting of restricted stock units granted in conjunction with the Deposit Share Program. The restricted stock units vest on the fourth anniversary of the grant date.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Carey Nate C

(Last) (First) (Middle)

9200 W. 108TH CIRCLE

(Street)

WESTMINSTER CO 80021

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BALL Corp [ BALL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Vice President & Controller

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2025		M		1,600	A	$0(1)	12,749	D
Common Stock	09/15/2025		F		461	D	$49.91	12,288	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	09/15/2025		M(3)			1,600	(4)	(4)	Common Stock	1,600	(1)	0	D

Explanation of Responses:

1. N/A

2. Each restricted stock unit represents a contingent right to receive one share of Ball Corporation Common Stock.

3. Conversion upon vesting of restricted stock units granted in conjunction with the Deposit Share Program.

4. The restricted stock units vest on the fourth anniversary of the grant date.

	/s/ Derek Redmond, attorney-in-fact to Mr. Carey	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did CAREY NATE C report on Form 4 for BALL?

The filing reports an acquisition of 1,600 restricted stock units (RSUs) and a sale of 461 common shares at $49.91 on 09/15/2025.

How many Ball (BALL) shares does Nate Carey beneficially own after the reported transactions?

Following the reported transactions, Mr. Carey beneficially owned 12,288 shares of Ball common stock.

What is the nature and vesting schedule of the 1,600 RSUs reported by Ball insider?

Each restricted stock unit represents a contingent right to receive one share of Ball common stock and the RSUs vest on the fourth anniversary of the grant date.

At what price were the 461 shares sold and is there information about why they were sold?

The 461 shares were sold at $49.91 per share. The Form 4 does not provide a reason for the sale.

Do the filings indicate any hedging, pledging, or derivative positions for this reporting person?

No hedging, pledging, or derivative positions are disclosed in this Form 4; only RSUs and a common stock sale are reported.