PKG Exec VP gains shares from 200% TSR award
PACKAGING CORP OF AMERICA Executive VP Donald R. Shirley received equity compensation tied to performance goals.
Rhea-AI Filing Summary
PACKAGING CORP OF AMERICA Executive VP Donald R. Shirley received equity compensation tied to performance goals. On March 27, 2026, he acquired 6,254 shares of common stock when TSR performance units granted on February 22, 2023 paid out at 200% of the performance measure. He also acquired 478 shares as a payout of accumulated dividend equivalents on the vesting performance units.
To cover related withholding tax obligations, the company withheld 2,650 shares at a price of $212.25 per share under its Long-Term Equity Incentive Plan, which is a tax-withholding disposition rather than an open-market sale. Following these transactions, Shirley holds 31,110 shares of common stock directly and 6,482 shares indirectly through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Shirley Donald R.
Role
Exec. VP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 6,254 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 478 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 2,650 | $212.25 | $562K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 31,110 shares (Direct);
Common Stock — 6,482 shares (Indirect, by 401(k) plan)
Footnotes (3)
- F1. On March 27, 2026, the compensation subcommittee of the compensation committee of the registrant's board of directors certified attainment of the performance measure under the TSR performance units awarded to the reporting person on February 22, 2023. Performance was achieved at 200%. The units paid out on the date of certification.
- F2. Payout in shares of accumulated dividends on vesting performance units.
- F3. Pursuant to the terms of the Company's Long-Term Equity Incentive Plan, the Company withheld shares to cover the withholding tax obligation associated with equity awards vesting on the transaction date.
Key Figures
TSR performance units payout: 6,254 shares
Dividend equivalent shares: 478 shares
Tax withholding shares: 2,650 shares
+4 more
7 metrics
TSR performance units payout
6,254 shares
Common stock from TSR performance units certified March 27, 2026
Dividend equivalent shares
478 shares
Payout in shares of accumulated dividends on vesting units
Tax withholding shares
2,650 shares
Shares withheld to cover tax obligations on vesting awards
Withholding price
$212.25 per share
Value used for shares withheld to satisfy taxes
Direct holdings after transaction
31,110 shares
Direct common stock ownership following reported transactions
401(k) holdings after transaction
6,482 shares
Indirect ownership via 401(k) plan as of March 27, 2026
Performance attainment
200%
Certified attainment of TSR performance measure for 2023 units
Key Terms
TSR performance units, Long-Term Equity Incentive Plan, withheld shares, withholding tax obligation, +1 more
5 terms
TSR performance units financial
"the TSR performance units awarded to the reporting person on February 22, 2023"
Long-Term Equity Incentive Plan financial
"Pursuant to the terms of the Company's Long-Term Equity Incentive Plan, the Company withheld shares"
withholding tax obligation financial
"to cover the withholding tax obligation associated with equity awards vesting on the transaction date"
401(k) plan financial
"total shares following transaction 6,482, indirect, nature of ownership by 401(k) plan"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
FAQ
What did PKG Executive VP Donald R. Shirley report in this Form 4 filing?
Donald R. Shirley reported equity awards vesting into common stock and related tax withholding. TSR performance units paid out at 200% of the performance measure, resulting in new shares, while the company withheld some shares to satisfy tax obligations under its Long-Term Equity Incentive Plan.
What is the significance of the 200% performance result for PKG’s TSR performance units?
The 200% performance result means the TSR performance units vested at double the target payout. The compensation subcommittee certified attainment of the performance measure, causing the units, plus accumulated dividends, to pay out in PKG common shares on the certification date.
Were any of Donald R. Shirley’s PKG transactions open-market buys or sells?
No open-market purchases or sales are reported. The filing shows equity award grants paying out in shares and a tax-withholding disposition, where the company withheld 2,650 shares to satisfy tax obligations, rather than discretionary trading in the open market.
AI-generated analysis. How Rhea-AI works. Not financial advice.
