Insider Michael Jones adds to PACK stake with stock retainer shares

Rhea-AI Filing Summary

Ranpak Holdings Corp. (PACK) – Form 4 filing: Director Michael Anthony Jones reported the acquisition of 5,179 Class A common shares on 01 July 2025. The shares, valued at $3.62 each, were issued in lieu of the director’s quarterly cash retainer, resulting in no out-of-pocket purchase by the insider. Following the transaction, Jones’ direct ownership increased to 261,792 shares. No derivative securities were involved and the filing discloses no sales. The transaction is routine compensation-related and does not materially alter Ranpak’s share count or insider ownership structure.

Insights

Securities Analyst

TL;DR: Small routine director share issuance; negligible impact on Ranpak valuation or governance; signals alignment but no material change to float or insider concentration.

The reported acquisition is compensation-driven rather than market-driven, classified under transaction code “A.” Because only 5,179 shares were issued—worth roughly $18.7k—this has an immaterial effect on Ranpak’s 80 million-plus share base. Still, electing stock over cash modestly aligns the director’s incentives with shareholders, a mild governance positive. There is no indication of insider selling, leverage, or derivative exposure. Given the size and nature of the award, the event is neutral in valuation terms and unlikely to influence trading dynamics or analyst models.

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^*

Jones Michael Anthony

(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)
07/01/2025

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
Class A common stock	07/01/2025		A		5,179(1)	A	$3.62	261,792	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. These shares were issued in connection with the Reporting Person's election to receive the Reporting Person's quarterly retainer for director services in the form of vested shares rather than cash.

	/s/ Sara Horvath, attorney-in-fact	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many Ranpak (PACK) shares did Director Michael Jones acquire?

He received 5,179 Class A common shares.

What was the transaction price per share disclosed in the Form 4?

The shares were valued at $3.62 each.

Why were the shares issued to the director?

They were issued in lieu of the director’s quarterly cash retainer, per the filing’s explanation.

What is Michael Jones’ total share ownership after the transaction?

He now directly owns 261,792 Ranpak shares.

Does the Form 4 include any sales or derivative transactions?

No, the filing reports only an acquisition of common shares and lists no derivative activity or sales.

When did the insider transaction occur?

The transaction date is July 1, 2025.