Packaging Corporation of America insider Mark W. Kowlzan reported a change in beneficial ownership involving the company’s common stock on May 27, 2026. The Form 4 indicates a transaction covering 9,266 shares at a weighted-average price of $217.076 per share, implying aggregate proceeds of approximately $2.01 million. The filing note states that the reported price is a weighted-average sale price, and that the reporting person will provide full details on the number of shares sold at each individual price upon request. Although the extracted filing text does not show the transaction code, the weighted-average pricing language is typically associated with a market sale reported on Form 4. No option exercise, vesting event, or equity-award conversion details were included in the provided text, and the excerpt does not state Kowlzan’s remaining direct ownership after the transaction. The filing also includes an explanatory note that Kowlzan disclaims beneficial ownership of shares held by his spouse, meaning any such shares are not being admitted as beneficially owned by him for Section 16 reporting purposes. The report was signed on May 28, 2026, by Kent A. Pflederer as attorney-in-fact for Kowlzan.