Spence Elizabeth 4

What Happened

• Elizabeth Spence, EVP Human Resources at Graphic Packaging (GPK), received an award of 19,668 service-based restricted stock units (RSUs) on February 25, 2026. The grant is recorded as a derivative award with an acquisition price of $0.00 (no cash paid at grant).

Key Details

• Transaction date: 2026-02-25; reported on Form 4 filed 2026-02-26 (timely filing).
• Amount: 19,668 RSUs; reported as "Acquired" at $0.00 (derivative award).
• Shares owned after transaction: not specified in the provided filing.
• Footnotes:
  • F1 — The service-based RSUs vest in three substantially equal tranches on the first, second and third anniversaries of the grant date, with exceptions for death, disability, retirement, involuntary termination, or change in control.
  • F2 — RSUs expire upon conversion and payment in shares as described under "Date Exerciseable."
  • Remarks — This grant represents one-third of a larger total award that also includes performance-based RSUs; the performance-based portion will be reportable upon settlement.

Context

• RSU grants are a standard form of executive compensation and are not an immediate purchase or sale of stock; they convert to shares only if/when they vest and settle. The performance-based portion of the award is separate and will be reported when settled, which can affect the ultimate number of shares delivered. This filing documents a grant, not a market trade, and does not by itself indicate immediate buying or selling activity.