[Form 4] PACKAGING CORP OF AMERICA Insider Trading Activity

Rhea-AI Filing Summary

GOWLAND KAREN E reported acquisition or exercise transactions in this Form 4 filing.

PACKAGING CORP OF AMERICA director Karen E. Gowland received a grant of 591 shares of Common Stock on 2026-05-12 as the equity portion of her director fees. This non-cash share award increased her directly held stake to 2,118 shares, reflecting routine board compensation rather than an open-market purchase or sale.

Insider Trade Summary

Net Buyer: 591 shares

Net Buy 1 txn

Insider GOWLAND KAREN E

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	591	$0.00	$0.00

Holdings After Transaction: Common Stock — 2,118 shares (Direct)

Footnotes (1)

1. F1. Share award for equity portion of directors fees.

Key Figures

Shares granted: 591 shares Price per share for grant: $0.00 per share Shares owned after transaction: 2,118 shares +1 more

4 metrics

Shares granted 591 shares Common Stock award on 2026-05-12

Price per share for grant $0.00 per share Compensation-related share award

Shares owned after transaction 2,118 shares Total direct Common Stock holdings post-award

Transaction code A Grant, award, or other acquisition of Common Stock

Key Terms

Grant, award, or other acquisition, Common Stock, director fees, direct ownership

4 terms

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

Common Stock financial

"security_title: Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

director fees financial

"Share award for equity portion of directors fees."

direct ownership financial

"ownership_type: direct, ownership_code: D"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 05/12/2026 - 06:26 PM Learn about SEC filing dates

FAQ

What did PKG director Karen E. Gowland report in this Form 4?

Karen E. Gowland reported receiving 591 shares of Packaging Corp of America Common Stock. The shares were granted as part of her director compensation, increasing her direct holdings to 2,118 shares after the transaction.

Was the PKG Form 4 transaction a market purchase or sale of shares?

The transaction was not a market purchase or sale. It was coded as a grant, award, or other acquisition, reflecting a share award for the equity portion of director fees rather than trading on the open market.

How many PKG shares does Karen E. Gowland hold after this award?

After receiving the 591-share award, Karen E. Gowland directly holds 2,118 shares of Packaging Corp of America Common Stock. This figure reflects her total direct ownership immediately following the reported compensation-related transaction.

What is the transaction price per share for Karen E. Gowland’s PKG award?

The reported transaction price per share is $0.00 because this was a compensation-related share grant. The award represents the equity portion of director fees, not a cash purchase of shares on the market.

How is Karen E. Gowland’s ownership in PKG classified after the Form 4?

Her ownership is classified as direct following the transaction. The Form 4 indicates she directly owns 2,118 shares of Packaging Corp of America Common Stock, with no derivative securities listed in the filing excerpt.

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^*

GOWLAND KAREN E

(Last) (First) (Middle)

C/O PACKAGING CORPORATION OF AMERICA

1 N. FIELD COURT

(Street)

LAKE FOREST ILLINOIS 60045

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PACKAGING CORP OF AMERICA [ PKG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common Stock	05/12/2026		A(1)		591	A	$0	2,118	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. Share award for equity portion of directors fees.

	Kent A. Pflederer, attorney in fact	05/12/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)