Vaughn Joseph 4

What Happened
Vaughn Joseph, Senior Vice President of Packaging Corporation of America (PKG), had 531 shares withheld by the company to satisfy the tax withholding obligation tied to equity awards that vested on Feb 23, 2026. The withheld shares were valued at $225.55 each, for a total of approximately $119,767. This was a tax-withholding disposition (code F), not an open‑market sale or purchase by the insider.

Key Details

• Transaction date: 2026-02-23; Filing date: 2026-02-24 (Form 4 accession 0001193125-26-066303) — filing appears timely.
• Price per share: $225.55; Shares withheld/disposed: 531; Total value ≈ $119,767.
• Shares owned after transaction: Not specified in this filing.
• Footnote: Per the company’s Long‑Term Equity Incentive Plan, shares were withheld to cover the withholding tax obligation on awards vesting that day. (Footnote F1.)
• Transaction code: F = tax withholding.

Context
This is a routine cashless/withholding action to cover taxes on vested equity and does not represent an open‑market sale or a purchase signal by the insider. Such withholdings are common and typically reflect tax obligations rather than a change in the insider’s view of the company.