T. Rowe Price Holds 6.5M PKG Shares (7.3%)

PACKAGING CORP OF AMERICA ownership filing: T. Rowe Price Associates, Inc. reports beneficial ownership of 6,525,012 shares of common stock, representing 7.3% of the class as of 03/31/2026.

Rhea-AI Filing Summary

PACKAGING CORP OF AMERICA ownership filing: T. Rowe Price Associates, Inc. reports beneficial ownership of 6,525,012 shares of common stock, representing 7.3% of the class as of 03/31/2026. The filing includes counts of voting and dispositive power and a statement that this filing "shall not be construed as an admission that Price Associates is the beneficial owner".

Insights

Institutional Ownership Analyst

Large passive stake by an asset manager reported; voting and dispositive counts disclosed.

The filing lists 6,325,012 shares of dispositive power and 6,324,327 shares of sole voting power tied to T. Rowe Price as of 03/31/2026. This quantifies the manager's visible position in the issuer's capital structure.

Holder statements disclaiming beneficial ownership are common for advisory firms; subsequent filings or proxy materials may clarify voting intent or voting agreements.

Regulatory Compliance Specialist

Schedule 13G disclosure and the filer’s denial are procedural and reflect reporting rules for institutional investors.

The form identifies the filer, address, CUSIP 695156109, and percent of class 7.3%. The signature date is 05/15/2026, while the ownership is stated as of 03/31/2026.

Compliance watchers should note the explicit denial phrase; it clarifies the filer’s legal position but does not change the numerical ownership reported here.

Key Figures

Beneficially owned: 6,525,012 shares Percent of class: 7.3% Sole voting power: 6,324,327 shares +3 more

6 metrics

Beneficially owned 6,525,012 shares Amount beneficially owned as reported

Percent of class 7.3% Percent of class as reported

Sole voting power 6,324,327 shares Sole power to vote as reported

Sole dispositive power 6,525,012 shares Sole power to dispose as reported

Ownership as of 03/31/2026 Date tied to ownership counts

Signature date 05/15/2026 Filing signed by Ellen York, Vice President

Key Terms

Schedule 13G, Beneficial ownership, Sole dispositive power

3 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: PACKAGING CORP OF AMERICA"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficial ownership financial

"Item 4. (a) Amount beneficially owned: 6525012"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Item 4. (c)(iii) Sole power to dispose or to direct the disposition of: 6525012"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

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

How many PKG shares does T. Rowe Price report owning?

T. Rowe Price reports beneficial ownership of 6,525,012 shares of PACKAGING CORP OF AMERICA common stock. The filing states this equals 7.3% of the class as of 03/31/2026.

What voting power does T. Rowe Price disclose for PKG?

The filing shows 6,324,327 shares of sole voting power and 0 shared voting power. These counts are reported in the Schedule 13G ownership table for 03/31/2026.

Does the filing say T. Rowe Price is the beneficial owner of the PKG shares?

The filing includes a declarative statement that it "shall not be construed as an admission that Price Associates is the beneficial owner." This denies beneficial ownership despite the numeric disclosure.

What dates are relevant in the PKG Schedule 13G filing?

Ownership figures are presented as of 03/31/2026, and the filing is signed on 05/15/2026 by Ellen York, Vice President. The CUSIP listed is 695156109.

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

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Accepted by SEC EDGAR 05/15/2026 - 10:07 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

PACKAGING CORP OF AMERICA

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

695156109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 695156109

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,324,327.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,525,012.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,525,012.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PACKAGING CORP OF AMERICA
(b)	Address of issuer's principal executive offices: 1 NORTH FIELD CT, LAKE FOREST, IL, 60045
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP Number(s): 695156109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6525012
(b)	Percent of class: 7.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6324327
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6525012
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	05/15/2026