Narvekar Nikhil 4

What Happened Nikhil Narvekar, SVP and Chief Investment Officer of Graphic Packaging Holding Co. (GPK), had 402 service-based restricted stock units (RSUs) convert into 402 shares on 2026-02-26. Of those, 81 shares were withheld to cover tax liability at a reported price of $12.10 per share (81 x $12.10 = $980). The conversion has a nominal exercise price of $0.00, so the reported market value of the 402 converted shares was about $4,864 (402 x $12.10), leaving a net ~321 shares added to his holdings after withholding (321 x $12.10 ≈ $3,884).

Key Details

• Transaction date: 2026-02-26; Form filed 2026-03-02 (no late-file flag in provided data).
• Actions reported:
  • M (exercise/conversion of derivative): 402 shares acquired at $0.00 (RSU conversion).
  • F (tax withholding/payment): 81 shares disposed at $12.10, proceeds $980 (withheld for taxes).
  • M (derivative disposition): 402 shares marked as derivative conversion/settlement.
• Shares owned after transaction: not stated in the provided excerpt of the filing.
• Footnote: F1 — these were service-based RSUs that expire upon conversion and payout in shares.

Context

• This is a routine RSU conversion with shares withheld to satisfy tax obligations (code F). It is not a market sale or open-market purchase; the insider did not sell shares for cash beyond the withholding.
• For retail investors, conversions/withholdings are common and typically reflect scheduled vesting, not an independent buy/sell signal.