Carter Charles J. 4
4 · PACKAGING CORP OF AMERICA · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
Packaging Corp (PKG) EVP Charles J. Carter Receives Award, Sells 3,509
What Happened
Charles J. Carter, EVP – Mill Operations at Packaging Corporation of America (PKG), received 8,916 shares on March 27, 2026 as the payout of TSR performance units (8,282 + 634 shares) following certification of performance at 200%. Simultaneously, 3,509 shares were withheld/disposed to cover the tax withholding obligation at $212.25 per share, resulting in a disposition value of $744,785. The grants were paid in shares (including accumulated dividends) rather than cash.
Key Details
- Transaction date: March 27, 2026; Form 4 filed March 31, 2026 (filed within required period).
- Awarded: 8,282 shares and 634 shares (total 8,916) at $0.00 (A = award/acquisition).
- Tax withholding/disposition: 3,509 shares withheld/disposed at $212.25 per share for $744,785 (F = tax withholding).
- Footnotes: Compensation committee certified TSR performance at 200% (F1); payout included accumulated dividends (F2); company withheld shares to satisfy tax withholding per plan (F3).
- Shares owned after the transaction: Not specified in the filing.
Context
This was a performance-unit payout (vesting) tied to prior awards (awarded Feb 22, 2023) and not an open-market purchase or discretionary sale. The share disposition was a routine withholding to cover taxes rather than a market-driven sale by the insider.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-27+8,282→ 53,496 total - Award
Common Stock
[F2]2026-03-27+634→ 54,130 total - Tax Payment
Common Stock
[F3]2026-03-27$212.25/sh−3,509$744,785→ 50,621 total
- 6,550(indirect: By 401(k))
Common Stock
Footnotes (3)
- [F1]On March 27, 2026, the compensation subcommittee of the compensation committee of the registrant's board of directors certified attainment of the performance measure under the TSR performance units awarded to the reporting person on February 22, 2023. Performance was achieved at 200%. 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.