Ranpak (NYSE: PACK) COO has 950 shares withheld for taxes

Rhea-AI Filing Summary

Ranpak Holdings Corp. Chief Operating Officer Aram Paul reported a routine tax-related share disposition. On the vesting of previously granted performance-based restricted stock units and restricted stock units, 950 shares of Class A common stock were withheld at $3.83 per share to cover his tax liabilities.

Following this tax-withholding transaction, Paul directly holds 29,800 shares of Ranpak Class A common stock. This event reflects compensation-related tax settlement rather than an open-market purchase or sale.

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^*

Aram Paul

(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 Operating Officer (COO)

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		950(1)	D	$3.83	29,800	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.
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FAQ

What insider transaction did Ranpak (PACK) COO Aram Paul report?

Ranpak COO Aram Paul reported a tax-related share disposition. The company withheld 950 shares of Class A common stock to pay his tax liabilities arising from the vesting of performance-based restricted stock units and restricted stock units, rather than executing an open-market trade.

How many Ranpak (PACK) shares were withheld for Aram Paul’s taxes?

A total of 950 Ranpak Class A common shares were withheld. These shares covered Aram Paul’s tax obligations triggered by the vesting of previously granted performance-based restricted stock units and restricted stock units, as disclosed in the Form 4 filing’s transaction and related footnote.

At what price per share were Ranpak (PACK) shares withheld for taxes?

The 950 withheld Ranpak Class A common shares were valued at $3.83 per share. This price was used to satisfy the Chief Operating Officer’s tax liabilities associated with the vesting of his previously granted restricted stock and performance-based awards.

How many Ranpak (PACK) shares does COO Aram Paul hold after this transaction?

After the tax-withholding transaction, Aram Paul directly holds 29,800 Ranpak Class A common shares. This post-transaction balance shows his remaining equity stake following the withholding of 950 shares to settle tax obligations tied to his vested restricted stock awards.

Was Aram Paul’s Ranpak (PACK) transaction an open-market sale?

No, the transaction was not an open-market sale. The 950 Ranpak shares were withheld by the company to pay Aram Paul’s tax liabilities from vesting restricted stock and performance-based units, a standard compensation-related tax settlement rather than a discretionary market sale.

What triggered the Ranpak (PACK) tax-withholding transaction for the COO?

The tax-withholding transaction was triggered by the vesting of Aram Paul’s previously granted performance-based restricted stock units and restricted stock units. To cover his resulting tax liabilities, 950 Ranpak Class A common shares were withheld instead of him paying the taxes in cash.