Packaging Corp EVP granted 2,774 RSUs

Packaging Corp of America executive vice president Donald R. Shirley reported an equity award rather than an open‑market trade.

Rhea-AI Filing Summary

Packaging Corp of America executive vice president Donald R. Shirley reported an equity award rather than an open‑market trade. On February 25, 2026, he acquired 2,774 restricted stock units, granted at no cash cost, each representing one share of common stock. Following this award, his direct common stock holdings total 24,870 shares, and he also reports 6,439 shares held indirectly through a 401(k) plan.

Insider Trade Summary

Grant/Award: 2,774 shares

Grant/Award 2 txns

Insider Shirley Donald R.

Role Exec. VP

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,774	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 24,870 shares (Direct); Common Stock — 6,439 shares (Indirect, by 401(k) plan)

Footnotes (1)

1. F1. Represents restricted stock units ("RSUs") issued to the reporting person. Each RSU represents a contingent right to receive one share of the registrant's common stock.

FAQ

What did PKG executive Donald R. Shirley report in this Form 4 filing?

Donald R. Shirley reported receiving an equity award. As executive vice president of Packaging Corp of America (PKG), he was granted 2,774 restricted stock units, each tied to one share of common stock, increasing his reported direct and indirect ownership positions.

How many restricted stock units did Packaging Corp (PKG) grant to its EVP?

The grant consisted of 2,774 restricted stock units. These RSUs were issued on February 25, 2026, at no cash cost to the executive. Each restricted stock unit represents a contingent right to receive one share of Packaging Corp of America common stock.

What is Donald R. Shirley’s direct PKG share ownership after this grant?

His direct ownership totals 24,870 common shares. This figure reflects his holdings after the February 25, 2026 grant of 2,774 restricted stock units, as reported in the Form 4, and represents shares held in his own name.

How are the reported PKG restricted stock units structured for the EVP?

The award is structured as restricted stock units (RSUs). Each RSU gives Donald R. Shirley a contingent right to receive one share of Packaging Corp of America common stock, aligning his compensation with shareholder value through equity-based incentives.

What indirect PKG holdings does Donald R. Shirley report in this filing?

He reports 6,439 common shares held indirectly. These shares are held through a 401(k) plan, indicating retirement-plan ownership separate from his directly held 24,870 shares following the restricted stock unit grant on February 25, 2026.

Does this PKG Form 4 reflect a stock purchase or sale by the EVP?

The filing reflects an award, not a market trade. The 2,774 restricted stock units were granted at a reported price of $0.00 per share, indicating compensation-related equity issuance rather than a traditional open‑market purchase or sale transaction.

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Accepted by SEC EDGAR 02/26/2026 - 07:10 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^*

Shirley Donald R.

(Last) (First) (Middle)

1 N. FIELD CT

(Street)

LAKE FOREST IL 60045

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

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
Common Stock	02/25/2026		A(1)		2,774	A	$0	24,870	D
Common Stock								6,439	I	by 401(k) plan

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 restricted stock units ("RSUs") issued to the reporting person. Each RSU represents a contingent right to receive one share of the registrant's common stock.

	Kent A. Pflederer, attorney in fact	02/26/2026
	** 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.