[Form 4] Ranpak Holdings Corp. Insider Trading Activity

Ranpak Holdings Corp. Chief Financial Officer & EVP Drew William reported a tax-withholding share disposition tied to equity compensation.

Rhea-AI Filing Summary

Ranpak Holdings Corp. Chief Financial Officer & EVP Drew William reported a tax-withholding share disposition tied to equity compensation. On the transaction date, 17,830 shares of Class A common stock were withheld at a price of $3.83 per share to cover tax liabilities from vesting performance-based restricted stock units and restricted stock units. After this non-market transaction, William directly owned 544,018 shares, indicating he retained a substantial equity position following the tax-related withholding.

Insights

Equity compensation and insider transactions analyst

Routine tax withholding on equity vesting; CFO retains a large stake.

The transaction involves Ranpak’s CFO, Drew William, and reflects 17,830 shares of Class A common stock withheld at $3.83 per share solely to satisfy tax liabilities from vesting performance-based RSUs and RSUs. This is not an open-market sale.

The filing shows no option exercises or additional derivative activity, and derivative holdings are not listed as remaining positions. After the withholding, William directly holds 544,018 shares, suggesting the disposition is small relative to his ongoing stake in Ranpak Holdings Corp..

Because this is a compensation-driven, non-discretionary tax event rather than a market trade, it carries limited informational value about the insider’s outlook on the stock. It primarily clarifies how the company settles tax obligations when equity awards vest.

Insider Trade Summary

Exercise Price or Tax Liability: 17,830 shares

Exercise Price or Tax Liability 1 txn

Insider Drew William

Role Chief Financial Officer & EVP

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Class A common stock	17,830	$3.83	$68K

Holdings After Transaction: Class A common stock — 544,018 shares (Direct)

Footnotes (1)

1. F1. Represents shares withheld to cover payment of the tax liabilities of the reporting person related to the vesting of a portion of the reporting person's previously-granted performance-based restricted stock units and restricted stock units.

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Accepted by SEC EDGAR 03/12/2026 - 07:40 PM Learn about SEC filing dates

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^*

Drew William

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer & EVP

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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	03/10/2026		F		17,830(1)	D	$3.83	544,018	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 shares withheld to cover payment of the tax liabilities of the reporting person related to the vesting of a portion of the reporting person's previously-granted performance-based restricted stock units and restricted stock units.

	/s/ Sara Horvath, attorney-in-fact	03/12/2026
	** 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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