Pflederer Kent A. 4

What Happened
Kent A. Pflederer, Executive Vice President & Chief Financial Officer of Packaging Corporation of America (PKG), was granted 2,774 restricted stock units (RSUs) on February 25, 2026. The award is reported at $0 cash at grant (acquisition code A) — the RSUs are a contingent right to receive common stock in the future rather than an immediate purchase of shares.

Key Details

• Transaction date: 2026-02-25; filing date: 2026-02-26 (report appears timely).
• Award: 2,774 RSUs granted at $0.00 per unit (total cash paid at grant = $0).
• Shares owned after transaction: Not specified in this Form 4 summary.
• Footnote: Each RSU "represents a contingent right to receive one share" of common stock.
• No sale, open-market purchase, or tax-withholding transaction reported in this filing.

Context
RSUs are a form of equity compensation: they represent a future contingent right to receive company shares (often subject to vesting and other plan conditions). Because this was a compensation award (not a market purchase or sale), it should be interpreted as part of executive pay rather than a direct market sentiment signal.