Packaging Corp director to sell $3M in stock

Packaging Corp of America (PKG) director Donald Ray Shirley filed a Rule 144 notice to sell up to 12,000 shares of PKG common stock through Merrill Lynch on the NYSE, with a proposed sale date of 08/20/2026.

Rhea-AI Filing Summary

Packaging Corp of America (PKG) director Donald Ray Shirley filed a Rule 144 notice to sell up to 12,000 shares of PKG common stock through Merrill Lynch on the NYSE, with a proposed sale date of 08/20/2026. The notice lists an aggregate market value of $3,000,000 for these shares and states that PKG had 89,098,299 shares outstanding. The shares derive from several stock bonus awards granted between 2024 and 2026.

Key Figures

Proposed shares to be sold: 12,000 shares Aggregate market value of securities to be sold: $3,000,000 Shares outstanding: 89,098,299 shares +4 more

7 metrics

Proposed shares to be sold 12,000 shares Common stock covered by Donald Ray Shirley’s Rule 144 notice

Aggregate market value of securities to be sold $3,000,000 Value reported for the 12,000 PKG shares in the Form 144

Shares outstanding 89,098,299 shares Packaging Corp of America common shares outstanding as referenced in the notice

Stock bonus grant 1 1,177 shares Common stock bonus dated 02/25/2024

Stock bonus grant 2 1,844 shares Common stock bonus dated 02/23/2025

Stock bonus grant 3 2,142 shares Common stock bonus dated 03/11/2025

Proposed sale date 08/20/2026 Date listed for the contemplated sale of 12,000 shares

Key Terms

Rule 144, Form 144, stock bonus, aggregate market value

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Form 144 regulatory

"144: Filer Information ... 144: Issuer Information"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

stock bonus financial

"Common | 02/25/2024 | Stock bonus | Packaging Corp of America"

aggregate market value financial

"Common | Merrill Lynch ... | 12000 | 3000000 | 89098299"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the Form 144 filing disclose for Packaging Corp of America (PKG)?

The filing discloses that director Donald Ray Shirley plans to sell up to 12,000 shares of PKG common stock under Rule 144, with a proposed sale date of 08/20/2026 and an aggregate market value of $3,000,000.

Who is selling Packaging Corp of America (PKG) shares and in what capacity?

The seller is Donald Ray Shirley, identified as a director of Packaging Corp of America. The Form 144 notice is filed for his account, covering shares he holds that were received as stock bonus awards over several years.

How many Packaging Corp of America (PKG) shares are covered by this Form 144?

The notice covers a proposed sale of up to 12,000 shares of PKG common stock. These shares are associated with multiple stock bonus grants, including awards of 1,177, 1,844, 2,142, 3,571, 1,983, and 1,284 shares on dates from 2024 to 2026.

What is the reported market value and share count context for PKG in this filing?

The filing states an aggregate market value of $3,000,000 for the 12,000 shares proposed for sale. It also notes that Packaging Corp of America had 89,098,299 shares outstanding, giving context to the relative size of the planned sale.

Through which broker and market will the PKG shares potentially be sold?

The proposed sales are to be executed through Merrill Lynch, with the shares listed as trading on the NYSE. This is standard disclosure on Form 144, identifying the broker and principal market for the contemplated transaction in Packaging Corp of America shares.

What is the source of the PKG shares being sold under this Form 144?

The shares were acquired as stock bonus awards from Packaging Corp of America. The filing lists specific grant dates, including 02/25/2024, 02/23/2025, 03/11/2025, 04/10/2025, and 02/23/2026, each with associated share amounts received by the director.

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Available on EDGAR 08/20/2026 - 02:23 PM Accepted by SEC EDGAR 08/20/2026 - 02:23 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001776032
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Packaging Corp of America
SEC File Number	001-15399
Address of Issuer	1 North Field Court Lake Forest ILLINOIS 60045
Phone	847-482-4545
Name of Person for Whose Account the Securities are To Be Sold	Donald Ray Shirley
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Merrill Lynch 13310 N California Blvd Ste 400 Walnut Creek CA 94596	12000	3000000	89098299	08/20/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/25/2024	Stock bonus	Packaging Corp of America			1177	02/25/2024	Stock bonus
Common	02/23/2025	Stock bonus	Packaging Corp of America			1844	02/23/2025	Stock bonus
Common	03/11/2025	Stock bonus	Packaging Corp of America			2142	03/11/2025	Stock bonus
Common	04/10/2025	Stock bonus	Packaging Copr of America			3571	04/10/2025	Stock bonus
Common	02/23/2026	Stock bonus	Packaging Corp of America			1983	02/23/2026	Stock bonus
Common	02/23/2026	Stock bonus	Packaging Corp of America			1284	02/23/2026	Stock bonus

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	08/20/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Donald Ray Shirley
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)