[Form 4] BALL Corp Insider Trading Activity

Rhea-AI Filing Summary

Ball Corporation director Cynthia A. Niekamp received 1,200 restricted stock units (RSUs) on 09/15/2025 under a deposit share program. The Form 4 reports a non‑derivative entry showing 1,200 shares acquired at $0 and a derivative entry that records 1,200 RSUs which convert to one share each upon vesting. The RSUs vest on the fourth anniversary of the grant date, and the filing shows 21,467.5414 shares beneficially owned directly following the non‑derivative transaction and 29,313 shares beneficially owned following the derivative disclosure. The form was signed by an attorney‑in‑fact on 09/16/2025. This filing documents an insider grant and the vesting schedule; it does not include cash proceeds, sales, or other compensatory terms beyond the vesting rule provided.

Positive

• Insider acquisition of equity via RSUs (1,200 RSUs granted), aligning director interests with shareholders
• Clear vesting schedule disclosed (vests on the fourth anniversary), providing transparency on future dilution timing
• Complete Section 16 disclosure with transaction and signature dates (09/15/2025 transaction; 09/16/2025 signature)

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received 1,200 RSUs that vest in four years; filing documents grant and current beneficial ownership.

The Form 4 shows a compensatory grant to a director rather than an open‑market purchase or sale. The reported transaction code "M" and accompanying explanation indicate the RSUs convert to common shares on vesting under the Deposit Share Program, with no cash price recorded. From a governance perspective, grants to directors are routine but important for aligning long‑term incentives; the four‑year vesting schedule signals multi‑year retention intent. The increased beneficial ownership figures reflect both the immediately acquired shares and outstanding RSUs. No sales, option exercises, or unusual transaction terms are disclosed.

Securities Compliance Analyst

TL;DR: Filing is a standard Section 16 disclosure for an insider grant; timing and signature are properly documented.

The Form 4 contains the required elements: reporting person, issuer, transaction date (09/15/2025), nature of transaction, and signature (attorney‑in‑fact dated 09/16/2025). The reporting shows 1,200 RSUs granted (derivative) that convert to common stock and a non‑derivative line showing 1,200 shares added at $0, consistent with grant accounting where no cash consideration was paid. Beneficial ownership totals are provided for both the non‑derivative and derivative positions. There are no indications of omitted required disclosures within the supplied text.

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

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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^*

NIEKAMP CYNTHIA A

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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		1,200	A	$0(1)	21,467.5414	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)			1,200	(4)	(4)	Common Stock	1,200	(1)	29,313	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 Ms. Niekamp	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 did Cynthia A. Niekamp report on the Form 4 for BALL?

The filing reports a grant of 1,200 restricted stock units (RSUs) on 09/15/2025, recorded as acquired at $0, and shows beneficial ownership figures following the transaction.

How many shares does the Form 4 show Cynthia Niekamp beneficially owned after the transaction?

The Form 4 shows 21,467.5414 shares under the non‑derivative line and 29,313 shares when including the derivative RSU position.

When do the RSUs reported in the Form 4 vest?

The RSUs vest on the fourth anniversary of the grant date, per the filing explanation.

Was there any cash paid for the shares reported in the Form 4?

No cash consideration is reported; the transaction lists a price of $0, indicating a compensatory grant.

Who signed the Form 4 and when?

The form was signed by Derek Redmond, attorney‑in‑fact to Ms. Niekamp on 09/16/2025.