Gliedman Michael S. 4

What Happened

• Michael S. Gliedman, a director of Ranpak Holdings Corp. (PACK), was awarded 3,750 shares on March 5, 2026. The Form 4 reports the acquisition at $0.00 (these shares represent Class A common stock underlying performance-based restricted stock units). This was an award/grant (compensation), not an open-market purchase or sale.

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely — within the two business-day filing window).
• Transaction type/code: A — Grant/award/acquisition of shares underlying Performance RSUs.
• Shares acquired: 3,750; acquisition price reported as $0.00 (compensation award).
• Vesting: The earned Performance RSUs vest in three equal installments on March 10, 2026; March 10, 2027; and March 10, 2028 (see footnote).
• Shares owned after transaction: Not specified in the provided filing.
• Footnote: The grant represents Class A common stock underlying performance-based RSUs earned as of March 5, 2026 and subject to the stated vesting schedule.

Context

• This transaction is compensation-related (award of performance RSUs), which is routine for insiders and does not reflect an open-market buy or sell. The shares are subject to future vesting dates, so they are not immediately liquid.