What the executives and directors of Packaging Corporation of America actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| KOWLZAN MARK W Chairman & CEO | CEO | 475.2K | — | $7.4M |
| MENCOFF SAMUEL M | Director | 340.1K | — | — |
| Hassfurther Thomas A President | Officer | 263.8K | — | $8.2M |
| Pflederer Kent A. EVP & CFO | CFO | 75.3K | — | — |
| Carter Charles J. EVP-Mill Ops. | Officer | 53.5K | — | — |
| Mundy Robert P. EVP & CFO | CFO | 47.7K | — | — |
| Barnes Pamela A. SVP | Officer | 45.7K | — | — |
| Shirley Donald R. Exec. VP | Officer | 33.3K | — | — |
| Olivier Darla J. SVP | Officer | 28.3K | — | — |
| Schneider Robert Andrew SVP & CIO | Officer | 25.5K | — | — |
| PORTER ROGER B | Director | 22.6K | — | — |
| Kaser Jeffrey S SVP | Officer | 18.6K | — | — |
| Ridley Bruce A SVP | Officer | 16.8K | — | — |
| BEEBE CHERYL K | Director | 15.1K | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-05 | Hassfurther Thomas A (Officer) | Discretionary sale | 8,797 | $257.00 | $2.3M |
| 2026-08-03 | Hassfurther Thomas A (Officer) | Discretionary sale | 12.5K | $250.00 | $3.1M |
| 2026-05-27 | KOWLZAN MARK W (CEO) | Discretionary sale | 9,266 | $217.08 | $2M |
| 2026-02-05 | Hassfurther Thomas A (Officer) | Discretionary sale | 12.1K | $230.50 | $2.8M |
| 2025-09-11 | KOWLZAN MARK W (CEO) | Discretionary sale | 25K | $215.97 | $5.4M |
| 2024-12-03 | Vaughn Joseph (Officer) | Discretionary sale | 2,300 | $244.89 | $563K |
| 2024-11-21 | STECKO PAUL T (Director) | Discretionary sale | 10.5K | $244.91 | $2.6M |
| 2024-11-12 | Shirley Donald R. (Officer) | Discretionary sale | 8,000 | $240.20 | $1.9M |
| 2024-11-08 | KOWLZAN MARK W (CEO) | Discretionary sale | 27K | $240.34 | $6.5M |
| 2024-11-08 | Mundy Robert P. (CFO) | Discretionary sale | 12.5K | $240.62 | $3M |
| 2024-11-07 | KOWLZAN MARK W (CEO) | Discretionary sale | 36.4K | $239.54 | $8.7M |
| 2024-11-07 | Hassfurther Thomas A (Officer) | Discretionary sale | 3,246 | $240.30 | $780K |
| 2024-11-06 | KOWLZAN MARK W (CEO) | Discretionary sale | 3,165 | $243.01 | $769K |
| 2024-11-06 | Hassfurther Thomas A (Officer) | Discretionary sale | 16.5K | $242.39 | $4M |
| 2024-07-25 | Carter Charles J. (Officer) | Discretionary sale | 5,389 | $196.28 | $1.1M |
| 2024-07-25 | Shirley Donald R. (Officer) | Discretionary sale | 6,000 | $196.28 | $1.2M |
| 2024-05-15 | GOWLAND KAREN E (Director) | Open-market buy | 300 | $182.06 | $55K |
| 2024-03-06 | Mundy Robert P. (CFO) | Discretionary sale | 10K | $182.51 | $1.8M |
| 2024-03-04 | KOWLZAN MARK W (CEO) | Discretionary sale | 53.2K | $186.70 | $9.9M |
| 2024-02-29 | Hassfurther Thomas A (Officer) | Discretionary sale | 13.9K | $181.06 | $2.5M |
| 2024-02-22 | Hassfurther Thomas A (Officer) | Discretionary sale | 14.2K | $173.80 | $2.5M |
| 2023-10-31 | STECKO PAUL T (Director) | Discretionary sale | 9,737 | $153.99 | $1.5M |
| 2023-10-30 | Pflederer Kent A. (Officer) | Discretionary sale | 4,000 | $150.93 | $604K |
| 2023-08-04 | Shirley Donald R. (Officer) | Discretionary sale | 5,000 | $156.14 | $781K |
| 2023-08-02 | Ridley Bruce A (Officer) | Discretionary sale | 3,493 | $155.22 | $542K |
| 2023-07-31 | Schneider Robert Andrew (Officer) | Discretionary sale | 15K | $152.84 | $2.3M |
| 2023-07-26 | Hassfurther Thomas A (Officer) | Discretionary sale | 27K | $148.80 | $4M |
| 2023-07-26 | Carter Charles J. (Officer) | Discretionary sale | 9,263 | $149.64 | $1.4M |
| 2022-06-06 | Mundy Robert P. (CFO) | Discretionary sale | 13.8K | $160.30 | $2.2M |
| 2022-05-25 | Harman Donna A. (Director) | Open-market buy | 500 | $153.21 | $77K |
| 2022-04-27 | Carter Charles J. (Officer) | Discretionary sale | 100 | $163.00 | $16K |
| 2022-04-27 | Carter Charles J. (Officer) | Discretionary sale | 7,347 | $163.00 | $1.2M |
| 2022-02-11 | Ridley Bruce A (Officer) | Discretionary sale | 1,353 | $148.74 | $201K |
| 2022-02-11 | Ridley Bruce A (Officer) | Discretionary sale | 2,128 | $148.51 | $316K |
| 2021-08-30 | Carter Charles J. (Officer) | Discretionary sale | 14.1K | $151.52 | $2.1M |
| 2021-08-19 | Shirley Donald R. (Officer) | Discretionary sale | 2,500 | $144.51 | $361K |
| 2021-05-11 | Carter Charles J. (Officer) | Discretionary sale | 9,161 | $154.57 | $1.4M |
| 2021-03-01 | Pflederer Kent A. (Officer) | Discretionary sale | 5,000 | $135.49 | $677K |
| 2020-11-24 | Schneider Robert Andrew (Officer) | Discretionary sale | 15K | $134.22 | $2M |
| 2020-11-17 | Hassfurther Thomas A (Officer) | Discretionary sale | 5,000 | $135.00 | $675K |
| 2020-11-11 | Hassfurther Thomas A (Officer) | Discretionary sale | 3,000 | $130.15 | $390K |
| 2020-11-10 | Hassfurther Thomas A (Officer) | Discretionary sale | 4,000 | $128.64 | $515K |
| 2020-11-10 | Walton Thomas W.H. (Officer) | Discretionary sale | 5,000 | $128.07 | $640K |
| 2020-11-06 | Hassfurther Thomas A (Officer) | Discretionary sale | 6,000 | $122.89 | $737K |
| 2020-11-05 | Hassfurther Thomas A (Officer) | Discretionary sale | 2,000 | $122.02 | $244K |
| 2020-11-05 | Walton Thomas W.H. (Officer) | Discretionary sale | 5,000 | $122.16 | $611K |
| 2020-11-03 | Hassfurther Thomas A (Officer) | Discretionary sale | 10K | $120.00 | $1.2M |
| 2020-11-02 | Ridley Bruce A (Officer) | Discretionary sale | 2,516 | $117.64 | $296K |
| 2020-02-03 | LYONS ROBERT C (Director) | Open-market buy | 1,000 | $96.88 | $97K |
| 2019-11-20 | Ridley Bruce A (Officer) | Discretionary sale | 1,900 | $112.92 | $215K |
| 2019-08-07 | Walton Thomas W.H. (Officer) | Discretionary sale | 6,000 | $100.17 | $601K |
| 2019-07-26 | Shirley Donald R. (Officer) | Discretionary sale | 5,000 | $101.48 | $507K |
| 2018-06-05 | STECKO PAUL T (Director) | Discretionary sale | 566 | $120.94 | $68K |
| 2017-11-02 | Walton Thomas W.H. (Officer) | Discretionary sale | 6,027 | $116.15 | $700K |
| 2017-10-27 | Carter Charles J. (Officer) | Discretionary sale | 6,150 | $117.04 | $720K |
| 2017-09-12 | Hassfurther Thomas A (Officer) | Discretionary sale | 6,000 | $117.94 | $708K |
| 2017-01-13 | MENCOFF SAMUEL M (Director) | Open-market buy | 1,777 | $88.04 | $156K |
| 2016-10-14 | MENCOFF SAMUEL M (Director) | Open-market buy | 543 | $80.48 | $44K |
| 2016-10-14 | MENCOFF SAMUEL M (Director) | Open-market buy | 1,929 | $80.48 | $155K |
| 2016-07-22 | Walton Thomas W.H. (Officer) | Discretionary sale | 9,000 | $73.64 | $663K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.