Carter Charles J. 4
4 · PACKAGING CORP OF AMERICA · Filed Mar 10, 2026
Research Summary
AI-generated summary of this filing
Packaging Corp (PKG) EVP Charles J. Carter Receives Award
What Happened
Charles J. Carter, EVP — Mill Operations at Packaging Corporation of America (PKG), received 4,715 shares on March 6, 2026 as a payout of vested performance units (4,331 shares) and accumulated dividend shares (384 shares). To satisfy tax withholding, the company withheld 1,857 shares at $222.52 per share (total value ~$413,220), so Carter received a net 2,858 shares. The acquired shares were awarded (code A) and the withheld shares are recorded as a disposition for tax withholding (code F).
Key Details
- Transaction date: March 6, 2026; Form 4 filed March 10, 2026 (filed on time).
- Awards: 4,331 shares (performance units) and 384 shares (accumulated dividends) acquired at $0.00.
- Withholding: 1,857 shares disposed at $222.52 each for tax withholding; total withheld value ~$413,220.
- Net shares issued to insider: 4,715 − 1,857 = 2,858 shares.
- Footnotes: F1 — ROIC performance units (awarded Feb 23, 2022) were certified and paid out; F2 — payout includes accumulated dividends in shares; F3 — company withheld shares to cover tax withholding obligations.
- Shares owned after transaction: not specified in the provided Form 4 details.
Context
This was a routine settlement of vested long-term incentive awards (performance units), not an open-market purchase or voluntary sale. The withholding of shares to cover taxes is a common net-settlement method and does not indicate a market sale by the insider.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-06+4,331→ 46,687 total - Award
Common Stock
[F2]2026-03-06+384→ 47,071 total - Tax Payment
Common Stock
[F3]2026-03-06$222.52/sh−1,857$413,220→ 45,214 total
- 6,474(indirect: By 401(k))
Common Stock
Footnotes (3)
- [F1]On March 6, 2026, the compensation subcommittee of the compensation committee of the registrant's board of directors certified attainment of the performance measure under the ROIC performance units awarded to the reporting person on February 23, 2022. The units paid out on the date of certification.
- [F2]Payout in shares of accumulated dividends on vesting performance units.
- [F3]Pursuant to the terms of the Company's Long-Term Equity Incentive Plan, the Company withheld shares to cover the withholding tax obligation associated with equity awards vesting on the transaction date.