Ranpak Holdings Corp. (PACK) grants director 3,750 performance RSUs

Rhea-AI Filing Summary

Ranpak Holdings Corp. director Michael S. Gliedman acquired rights to 3,750 shares of Class A common stock through earned performance-based restricted stock units. These Performance RSUs were earned on March 5, 2026 based on pre-set performance goals and will vest in three equal installments on March 10, 2026, March 10, 2027, and March 10, 2028. Following this grant/award acquisition, Gliedman directly holds 173,013 shares of Ranpak Class A common stock.

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

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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^*

Gliedman Michael S.

(Last) (First) (Middle)

RANPAK HOLDINGS CORP.

7990 AUBURN ROAD

(Street)

CONCORD TOWNSHIP OH 44077

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ranpak Holdings Corp. [ PACK ]

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)
03/05/2026

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
Class A common stock	03/05/2026		A		3,750	A	$0(1)	173,013	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

Explanation of Responses:

1. Represents Class A Common Stock underlying the performance-based restricted stock units ("Performance RSUs") earned on March 5, 2026 as determined by Ranpak based on pre-established performance goals. The earned Performance RSUs vest in three equal installments on each of March 10, 2026, March 10, 2027 and March 10, 2028.

	/s/ Sara Horvath, attorney-in-fact	03/09/2026
	** 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.
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FAQ

What insider transaction did Ranpak (PACK) director Michael S. Gliedman report?

Michael S. Gliedman reported an acquisition of rights to 3,750 shares of Ranpak Class A common stock. These shares are underlying performance-based restricted stock units earned on March 5, 2026, based on pre-established performance goals, and will vest in three equal installments over three years.

How many Ranpak shares does Michael S. Gliedman hold after this Form 4 transaction?

After this grant, Michael S. Gliedman directly holds 173,013 shares of Ranpak Class A common stock. This total includes the newly earned 3,750 shares underlying performance-based restricted stock units, which are subject to a three-year vesting schedule starting March 10, 2026 and continuing annually.

What are the vesting terms of Michael S. Gliedman’s performance-based RSUs at Ranpak (PACK)?

The 3,750 performance-based restricted stock units earned by Michael S. Gliedman vest in three equal installments. The units vest on March 10, 2026, March 10, 2027, and March 10, 2028, following their earning on March 5, 2026, based on Ranpak’s pre-established performance goals.

How were Michael S. Gliedman’s Ranpak performance RSUs determined?

The 3,750 Ranpak Class A shares underlying Michael S. Gliedman’s restricted stock units were earned on March 5, 2026. Ranpak determined the number based on pre-established performance goals, meaning the award reflects company performance criteria rather than a cash purchase or open-market transaction.

Is Michael S. Gliedman’s Ranpak Form 4 transaction a stock purchase or an award?

The Form 4 transaction is a grant or award acquisition, not an open-market stock purchase. It reflects 3,750 shares underlying performance-based restricted stock units earned on March 5, 2026, with no price per share reported and a multi-year vesting schedule through 2028.