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Packaging Corporation of America 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and Packaging Corporation of America’s Form 8-K, filed 2026-05-13 (Item 5.07 on EDGAR). Page generated 02 October 2026.

28Reported items
791Asset managers
9,341Fund votes
2026-05-12Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Packaging Corporation of America in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by Packaging Corporation of America

These tallies are Packaging Corporation of America’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2026-05-13 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

Packaging Corporation of America — official shareholder meeting results, meeting held 2026-05-12
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Cheryl K. Beebe	74,535,448	5,009,056	41,399	--	3,975,507	Majority: yes
Elect Director: Duane C. Farrington	78,947,264	561,789	76,850	--	3,975,507	Majority: yes
Elect Director: Karen E. Gowland	78,119,832	1,370,588	95,483	--	3,975,507	Majority: yes
Elect Director: Donna A. Harman	78,940,200	572,065	73,638	--	3,975,507	Majority: yes
Elect Director: Mark W. Kowlzan	77,154,503	2,387,938	43,462	--	3,975,507	Majority: yes
Elect Director: Robert C. Lyons	78,012,659	1,494,605	78,639	--	3,975,507	Majority: yes
Elect Director: Samuel M. Mencoff	67,878,835	8,681,658	3,025,410	--	3,975,507	Majority: yes
Elect Director: Roger B. Porter	64,678,389	11,849,812	3,057,702	--	3,975,507	Majority: yes
Elect Director: Thomas S. Souleles	75,213,947	4,291,228	80,728	--	3,975,507	Majority: yes

Source: Packaging Corporation of America, Form 8-K, filed with the SEC on 2026-05-13 — read the filing on EDGAR.

How asset managers voted at the Packaging Corporation of America 2025-2026 meeting

Each item below shows how the 791 asset managers that disclosed a Packaging Corporation of America vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of Packaging Corporation of America’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Proposal to approve our executive compensation.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

Combines 2 wordings of this item as funds reported it.

98% fund support · no official result

FOR 98%

The 742 asset managers below cast 98% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the company's reported shares outstanding.

FOR: 98.3%AGAINST: 1.6%ABSTAIN: 0.0%NOT VOTED: 0.0%

Largest asset managers voting on “Proposal to approve our executive compensation.” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	11,232,482	20,520	1	For
T. Rowe Price	10,663,686	50,579	0	For
Charles Schwab	7,266,540	0	0	For
Fidelity	7,179,924	0	0	For
BlackRock	6,084,335	2,122	0	For
Victory Capital	3,351,793	0	0	For
American Century	3,342,758	0	0	For
State Street	2,804,752	4,643	0	For
GEODE CAPITAL MANAGEMENT, LLC	2,476,250	0	0	For
JPMorgan	2,061,636	0	0	For
Invesco	1,867,461	0	0	For
Capital Group	1,613,131	0	0	For
Boston Partners	1,533,975	0	0	For
RBC Global Asset Management (U.S.) Inc.	1,489,009	0	0	For
Newton Investment Management North America, LLC	1,375,535	0	0	For
John Hancock	1,329,998	0	0	For
Columbia Threadneedle	1,284,273	0	0	For
BNY Mellon	893,814	0	0	For
Select Equity Group, L.P.	862,920	0	0	For
Dimensional	816,113	0	0	For
Northern Trust	756,471	0	0	For
Atlas FRM LLC	695,001	0	0	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	506,482	0	0	For
PRINCIPAL GLOBAL INVESTORS	479,106	0	0	For
AMERIPRISE FINANCIAL INC	435,116	0	0	For

Showing the 25 largest of 742 asset managers. See all 742 in the interactive database.

2. Election of Directors: Cheryl K. Beebe

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 74,535,448AGAINST: 5,009,056

Packaging Corporation of America’s own tally for this item (“Elect Director: Cheryl K. Beebe”): 74,535,448 for, 5,009,056 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 84% for, 6% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 96% of the shares they voted on this item FOR (38,903,721 for, 1,471,721 against).

FOR 96%

FOR: 38,903,721 (96.3%)AGAINST: 1,471,721 (3.6%)ABSTAIN: 2,352 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Cheryl K. Beebe” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Vote
Vanguard	10,319,944	33	For
Charles Schwab	3,621,062	0	For
BlackRock	3,499,789	0	For
Fidelity	3,117,276	0	For
T. Rowe Price	3,049,042	0	For
JPMorgan	2,051,017	0	For
Victory Capital	1,483,176	0	For
American Century	1,445,997	0	For
State Street	2,725	1,394,839	Against
John Hancock	1,274,607	0	For
Columbia Threadneedle	1,271,873	0	For
Invesco	873,462	0	For
Capital Group	806,218	0	For
BNY Mellon	756,540	0	For
Dimensional	579,099	0	For
Tidal Trust III	426,839	0	For
Principal	402,531	0	For
Jackson National	366,863	0	For
First Trust	348,484	0	For
TIAA	258,381	0	For
ETF Series Solutions	214,236	0	For
Lincoln Financial	159,709	19,600	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	For
Bridge Builder Trust	143,588	0	For
WisdomTree	139,357	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

3. Election of Directors: Donna A. Harman

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 78,940,200AGAINST: 572,065

Packaging Corporation of America’s own tally for this item (“Elect Director: Donna A. Harman”): 78,940,200 for, 572,065 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 89% for, 0.7% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 99.9% of the shares they voted on this item FOR (40,374,459 for, 983 against).

FOR 99.9%

FOR: 40,374,459 (100.0%)AGAINST: 983 (0.0%)ABSTAIN: 2,353 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Donna A. Harman” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,970	6	1	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,274	515	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	1,397,564	0	0	For
John Hancock	1,274,607	0	0	For
Columbia Threadneedle	1,271,873	0	0	For
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	756,540	0	0	For
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	402,531	0	0	For
Jackson National	366,863	0	0	For
First Trust	348,484	0	0	For
TIAA	258,381	0	0	For
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	179,309	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	0	For
Bridge Builder Trust	143,588	0	0	For
WisdomTree	139,357	0	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

4. Election of Directors: Duane C. Farrington

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 4 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 78,947,264AGAINST: 561,789

Packaging Corporation of America’s own tally for this item (“Elect Director: Duane C. Farrington”): 78,947,264 for, 561,789 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 89% for, 0.7% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 99.9% of the shares they voted on this item FOR (40,373,528 for, 1,913 against).

FOR 99.9%

FOR: 40,373,528 (100.0%)AGAINST: 1,913 (0.0%)ABSTAIN: 2,353 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Duane C. Farrington” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,970	6	1	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,789	0	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	1,397,564	0	0	For
John Hancock	1,274,607	0	0	For
Columbia Threadneedle	1,271,873	0	0	For
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	756,540	0	0	For
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	402,531	0	0	For
Jackson National	366,863	0	0	For
First Trust	348,484	0	0	For
TIAA	258,381	0	0	For
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	179,309	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	0	For
Bridge Builder Trust	143,588	0	0	For
WisdomTree	139,357	0	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

5. Election of Directors: Karen E. Gowland

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 78,119,832AGAINST: 1,370,588

Packaging Corporation of America’s own tally for this item (“Elect Director: Karen E. Gowland”): 78,119,832 for, 1,370,588 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 88% for, 2% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 99.7% of the shares they voted on this item FOR (40,277,323 for, 98,118 against).

FOR 99.7%

FOR: 40,277,323 (99.8%)AGAINST: 98,118 (0.2%)ABSTAIN: 2,353 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Karen E. Gowland” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,958	18	1	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,789	0	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	1,397,564	0	0	For
John Hancock	1,274,607	0	0	For
Columbia Threadneedle	1,271,873	0	0	For
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	756,540	0	0	For
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	402,531	0	0	For
Jackson National	366,863	0	0	For
First Trust	348,484	0	0	For
TIAA	258,381	0	0	For
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	179,309	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	0	For
Bridge Builder Trust	109,450	34,138	0	For
WisdomTree	139,357	0	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

6. Election of Directors: Mark W. Kowlzan

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 77,154,503AGAINST: 2,387,938

Packaging Corporation of America’s own tally for this item (“Elect Director: Mark W. Kowlzan”): 77,154,503 for, 2,387,938 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 87% for, 3% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 99.9% of the shares they voted on this item FOR (40,374,300 for, 1,143 against).

FOR 99.9%

FOR: 40,374,300 (100.0%)AGAINST: 1,143 (0.0%)ABSTAIN: 2,352 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Mark W. Kowlzan” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Vote
Vanguard	10,319,947	30	For
Charles Schwab	3,621,062	0	For
BlackRock	3,499,789	0	For
Fidelity	3,117,276	0	For
T. Rowe Price	3,049,042	0	For
JPMorgan	2,051,017	0	For
Victory Capital	1,483,176	0	For
American Century	1,445,997	0	For
State Street	1,397,548	16	For
John Hancock	1,274,607	0	For
Columbia Threadneedle	1,271,873	0	For
Invesco	873,462	0	For
Capital Group	806,218	0	For
BNY Mellon	756,540	0	For
Dimensional	579,099	0	For
Tidal Trust III	426,839	0	For
Principal	402,531	0	For
Jackson National	366,863	0	For
First Trust	348,484	0	For
TIAA	258,381	0	For
ETF Series Solutions	214,236	0	For
Lincoln Financial	179,309	0	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	For
Bridge Builder Trust	143,588	0	For
WisdomTree	139,357	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

7. Election of Directors: Robert C. Lyons

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 78,012,659AGAINST: 1,494,605

Packaging Corporation of America’s own tally for this item (“Elect Director: Robert C. Lyons”): 78,012,659 for, 1,494,605 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 88% for, 2% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 99.9% of the shares they voted on this item FOR (40,372,864 for, 2,578 against).

FOR 99.9%

FOR: 40,372,864 (100.0%)AGAINST: 2,578 (0.0%)ABSTAIN: 2,353 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Robert C. Lyons” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,956	20	1	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,789	0	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	1,397,548	16	0	For
John Hancock	1,274,607	0	0	For
Columbia Threadneedle	1,271,873	0	0	For
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	756,540	0	0	For
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	402,531	0	0	For
Jackson National	366,863	0	0	For
First Trust	348,484	0	0	For
TIAA	258,381	0	0	For
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	179,309	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	0	For
Bridge Builder Trust	143,588	0	0	For
WisdomTree	139,357	0	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

8. Election of Directors: Roger B. Porter

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 4 wordings of this item as funds reported it.

85% Majority: yes · of votes cast

FOR 85%AGAINST 15%

FOR: 64,678,389AGAINST: 11,849,812

Packaging Corporation of America’s own tally for this item (“Elect Director: Roger B. Porter”): 64,678,389 for, 11,849,812 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 73% for, 13% against (86% of the company cast a for/against vote).

The 144 asset managers below cast 86% of the shares they voted on this item FOR (34,714,105 for, 5,661,288 against).

FOR 86%AGAINST 14%

FOR: 34,714,105 (86.0%)AGAINST: 5,661,288 (14.0%)ABSTAIN: 2,402 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Roger B. Porter” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,791	137	50	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,789	0	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	2,725	1,394,839	0	Against
John Hancock	81,706	1,192,901	0	Against
Columbia Threadneedle	0	1,271,873	0	Against
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	0	756,540	0	Against
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	373,806	28,725	0	For
Jackson National	224,275	142,588	0	For
First Trust	348,484	0	0	For
TIAA	0	258,381	0	Against
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	159,709	19,600	0	For
TRUST FOR PROFESSIONAL MANAGERS	102,247	53,543	0	For
Bridge Builder Trust	6,212	137,376	0	Against
WisdomTree	0	139,357	0	Against

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

9. Election of Directors: Samuel M. Mencoff

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 4 wordings of this item as funds reported it.

89% Majority: yes · of votes cast

FOR 89%11%

FOR: 67,878,835AGAINST: 8,681,658

Packaging Corporation of America’s own tally for this item (“Elect Director: Samuel M. Mencoff”): 67,878,835 for, 8,681,658 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 76% for, 10% against (86% of the company cast a for/against vote).

The 144 asset managers below cast 90% of the shares they voted on this item FOR (36,434,086 for, 3,941,307 against).

FOR 90%10%

FOR: 36,434,086 (90.2%)AGAINST: 3,941,307 (9.8%)ABSTAIN: 2,399 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Samuel M. Mencoff” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,836	92	47	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,789	0	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	2,725	1,394,839	0	Against
John Hancock	81,706	1,192,901	0	Against
Columbia Threadneedle	1,271,873	0	0	For
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	20,460	736,080	0	Against
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	373,806	28,725	0	For
Jackson National	261,674	105,189	0	For
First Trust	348,484	0	0	For
TIAA	258,381	0	0	For
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	159,709	19,600	0	For
TRUST FOR PROFESSIONAL MANAGERS	102,247	53,543	0	For
Bridge Builder Trust	6,212	137,376	0	Against
WisdomTree	139,357	0	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

10. Election of Directors: Thomas S. Souleles

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 75,213,947AGAINST: 4,291,228

Packaging Corporation of America’s own tally for this item (“Elect Director: Thomas S. Souleles”): 75,213,947 for, 4,291,228 against, per its Form 8-K filed 2026-05-13 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 89,098,647 outstanding shares: 84% for, 5% against (89% of the company cast a for/against vote).

The 144 asset managers below cast 96% of the shares they voted on this item FOR (38,905,158 for, 1,470,284 against).

FOR 96%

FOR: 38,905,158 (96.4%)AGAINST: 1,470,284 (3.6%)ABSTAIN: 2,353 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “Election of Directors: Thomas S. Souleles” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
Vanguard	10,319,914	62	1	For
Charles Schwab	3,621,062	0	0	For
BlackRock	3,499,789	0	0	For
Fidelity	3,117,276	0	0	For
T. Rowe Price	3,049,042	0	0	For
JPMorgan	2,051,017	0	0	For
Victory Capital	1,483,176	0	0	For
American Century	1,445,997	0	0	For
State Street	1,397,548	16	0	For
John Hancock	81,706	1,192,901	0	Against
Columbia Threadneedle	1,271,873	0	0	For
Invesco	873,462	0	0	For
Capital Group	806,218	0	0	For
BNY Mellon	756,540	0	0	For
Dimensional	579,099	0	0	For
Tidal Trust III	426,839	0	0	For
Principal	402,531	0	0	For
Jackson National	366,863	0	0	For
First Trust	348,484	0	0	For
TIAA	258,381	0	0	For
ETF Series Solutions	214,236	0	0	For
Lincoln Financial	179,309	0	0	For
TRUST FOR PROFESSIONAL MANAGERS	102,247	53,543	0	For
Bridge Builder Trust	6,212	137,376	0	Against
WisdomTree	139,357	0	0	For

Showing the 25 largest of 144 asset managers. See all 144 in the interactive database.

11. PROPOSAL TO RATIFY APPOINTMENT OF KPMG LLP AS OUR AUDITORS.

AUDIT-RELATED

Meeting held 2026-05-12.

Combines 2 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 142 asset managers below cast 99.9% of the shares they voted on this item FOR (40,248,681 for, 7,752 against).

FOR: 40,248,681 (100.0%)AGAINST: 7,752 (0.0%)ABSTAIN: 2,352 (0.0%)NOT VOTED: 73 (0.0%)

Largest asset managers voting on “PROPOSAL TO RATIFY APPOINTMENT OF KPMG LLP AS OUR AUDITORS.” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Vote
Vanguard	10,319,967	8	For
Charles Schwab	3,621,062	0	For
BlackRock	3,499,789	0	For
Fidelity	3,117,276	0	For
T. Rowe Price	3,049,042	0	For
JPMorgan	2,051,017	0	For
Victory Capital	1,483,176	0	For
American Century	1,445,997	0	For
State Street	1,397,548	16	For
John Hancock	1,274,607	0	For
Columbia Threadneedle	1,271,873	0	For
Invesco	873,462	0	For
Capital Group	806,218	0	For
BNY Mellon	756,540	0	For
Dimensional	579,099	0	For
Tidal Trust III	426,839	0	For
Principal	402,531	0	For
Jackson National	366,863	0	For
First Trust	348,484	0	For
TIAA	258,381	0	For
ETF Series Solutions	214,236	0	For
TRUST FOR PROFESSIONAL MANAGERS	155,790	0	For
Bridge Builder Trust	143,588	0	For
WisdomTree	139,357	0	For
MASTER INVESTMENT PORTFOLIO	134,270	0	For

Showing the 25 largest of 142 asset managers. See all 142 in the interactive database.

12. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

60% fund support · no official result

FOR 60%AGAINST 40%

The 21 asset managers below cast 60% of the shares they voted on this item FOR (223,487 for, 150,593 against).

FOR: 223,487 (59.7%)AGAINST: 150,593 (40.3%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Vote
APG Asset Management US Inc.	0	108,763	Against
Lincoln Financial	101,766	0	For
Union Investment Management GmbH	0	31,476	Against
Metzler Asset Management GmbH	25,741	0	For
STOREBRAND ASSET MANAGEMENT AS	25,214	0	For
Wilshire Advisors LLC	24,566	0	For
CAMBIAR INVESTORS LLC	17,259	0	For
Empower	14,306	0	For
NORDEA INVESTMENT MANAGEMENT AB	0	9,015	Against
Dayah Capital LLC	6,105	0	For
TD Waterhouse Canada Inc.	4,661	0	For
NORTHERN LIGHTS FUND TRUST II	1,700	0	For
Cornerstone Investment Partners, LLC	0	1,339	Against
CLEARWATER INVESTMENT TRUST	1,236	0	For
Fractal Investments LLC	570	0	For
Moment Partners, LLC	130	0	For
KESTRA PRIVATE WEALTH SERVICES, LLC	109	0	For
Edgemoor Investment Advisors, Inc.	100	0	For
Convergence Investment Partners, LLC	17	0	For
Arjuna Capital	5	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	2	0	For

13. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

78% fund support · no official result

FOR 60%AGAINST 17%ABSTAIN 23%

The 10 asset managers below cast 78% of the shares they voted on this item FOR (17,849 for, 5,025 against).

FOR: 17,849 (59.7%)AGAINST: 5,025 (16.8%)ABSTAIN: 7,001 (23.4%)

Largest asset managers voting on “14A Executive Compensation” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Vote
OLD SECOND NATIONAL BANK OF AURORA	9,189	0	0	For
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	7,001	Abstain
River Street Advisors LLC	5,270	0	0	For
WILLIAMSBURG INVESTMENT TRUST	0	5,000	0	Against
REXFORD CAPITAL INC	2,641	0	0	For
McGowan Group Asset Management, Inc.	316	0	0	For
EAGLE GLOBAL ADVISORS LLC	252	0	0	For
Cove Private Wealth, LLC	110	0	0	For
Baker Avenue Asset Management, LP	71	0	0	For
COURIER CAPITAL LLC	0	25	0	Against

14. Advisory vote to approve executive compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

Combines 3 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 4 asset managers below cast 100% of the shares they voted on this item FOR (333 for, 0 against).

FOR: 333 (100.0%)

Largest asset managers voting on “Advisory vote to approve executive compensation” at Packaging Corporation of America, 2025-2026
Asset manager	For	Vote
Orca Wealth Management, LLC	299	For
Cannon Financial Strategists, Inc.	20	For
NTV ASSET MANAGEMENT LLC	8	For
Constant Guidance Financial LLC	6	For

15. Ratify KPMG LLP as Auditors

AUDIT-RELATED

Meeting held 2026-05-12.

100% fund support · no official result

FOR 100%

The 4 asset managers below cast 100% of the shares they voted on this item FOR (119,008 for, 0 against).

FOR: 119,008 (100.0%)

Largest asset managers voting on “Ratify KPMG LLP as Auditors” at Packaging Corporation of America, 2025-2026
Asset manager	For	Vote
Lincoln Financial	101,766	For
Empower	14,306	For
NORTHERN LIGHTS FUND TRUST II	1,700	For
CLEARWATER INVESTMENT TRUST	1,236	For

16. Proposal to approve our executive compensation.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-07 (outside the 2025-2026 season's 1 July to 30 June window; reported in this season's filings).

80% fund support · no official result

FOR 80%AGAINST 20%

The 3 asset managers below cast 80% of the shares they voted on this item FOR (7,185 for, 1,800 against).

FOR: 7,185 (80.0%)AGAINST: 1,800 (20.0%)

Largest asset managers voting on “Proposal to approve our executive compensation.” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Vote
Investment Management Corp of Ontario	5,833	0	For
PENSIOENFONDS RAIL & OV	0	1,800	Against
FIRST UNITED BANK & TRUST	1,352	0	For

17. Elect Director Cheryl K. Beebe

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Cheryl K. Beebe” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

18. Elect Director Donna A. Harman

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Donna A. Harman” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

19. Elect Director Duane C. Farrington

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Duane C. Farrington” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

20. Elect Director Mark W. Kowlzan

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Mark W. Kowlzan” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

21. Elect Director Roger B. Porter

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Roger B. Porter” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

22. Elect Director Samuel M. Mencoff

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Samuel M. Mencoff” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

23. Elect Director Thomas S. Souleles

DIRECTOR ELECTIONS

Reported under meeting date 2026-05-08; no official results on file for that date.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,052 for, 0 against).

FOR: 1,052 (100.0%)

Largest asset managers voting on “Elect Director Thomas S. Souleles” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
RWC Asset Management LLP	1,052	0	0	0	For
VOLUMETRIC FUND INC	0	0	0	0	--

24. Election of Directors (Majority Voting)

DIRECTOR ELECTIONS

Meeting held 2026-05-12.

All nominees (reported as one line). These filers reported the election of directors as a single line covering every nominee. It is not attributed to any one director, and no share total is shown for it.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR.

FOR: 100.0%

Largest asset managers voting on “Election of Directors (Majority Voting)” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
WILLIAMSBURG INVESTMENT TRUST	5,000	0	0	0	For
McGowan Group Asset Management, Inc.	316	0	0	0	For

25. Proposal to approve our executive H.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (7,797 for, 0 against).

FOR: 7,797 (100.0%)

Largest asset managers voting on “Proposal to approve our executive H.” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Northern Lights Fund Trust	6,986	0	0	0	For
Northern Lights Variable Trust	811	0	0	0	For

26. Ratify Appointment of Independent Auditors

AUDIT-RELATED

Meeting held 2026-05-12.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (5,316 for, 0 against).

FOR: 5,316 (100.0%)

Largest asset managers voting on “Ratify Appointment of Independent Auditors” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
WILLIAMSBURG INVESTMENT TRUST	5,000	0	0	0	For
McGowan Group Asset Management, Inc.	316	0	0	0	For

27. Say on Pay

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

96% fund support · no official result

FOR 96%

The 2 asset managers below cast 96% of the shares they voted on this item FOR (568 for, 21 against).

FOR: 568 (96.4%)AGAINST: 21 (3.6%)

Largest asset managers voting on “Say on Pay” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
Empower	568	0	0	0	For
Genus Capital Management Inc.	0	21	0	0	Against

28. Vote on a non-binding proposal to approve our executive compensation.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2026-05-12.

Combines 2 wordings of this item as funds reported it.

— fund support · no official result

NOT VOTED 100%

No shares were cast for or against this item by the managers below — every disclosed position was an abstention or was not voted.

NOT VOTED: 1,236 (100.0%)

Largest asset managers voting on “Vote on a non-binding proposal to approve our executive compensation.” at Packaging Corporation of America, 2025-2026
Asset manager	For	Against	Abstain	Withheld	Vote
National Philanthropic Trust	0	0	0	0	Not Voted
IPConcept (Luxemburg) S.A.	0	0	0	0	--

Largest Packaging Corporation of America shareholders voting in 2025-2026

Ranked by the number of Packaging Corporation of America shares each manager voted on the most widely held ballot item of the 2025-2026 meeting, shown as a share of the 89,098,647 shares outstanding at the time of that meeting.

Top Packaging Corporation of America shareholders by shares voted, 2025-2026
#	Asset manager	% of shares outstanding
1	Vanguard	12.63%
2	T. Rowe Price	12.03%
3	Charles Schwab	8.16%
4	Fidelity	8.06%
5	BlackRock	6.83%
6	Victory Capital	3.76%
7	American Century	3.75%
8	State Street	3.15%
9	GEODE CAPITAL MANAGEMENT, LLC	2.78%
10	JPMorgan	2.31%

Reported Packaging Corporation of America ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

Packaging Corporation of America beneficial owners on record for the 2025-2026 proxy season
Holder	% outstanding	Disclosure
Vanguard Group	12.66%	13F
BlackRock	8.65%	13F
T. Rowe Price	7.32%	13F
State Street	4.76%	13F
JPMorgan Chase	3.85%	13F
BNY Mellon	2.51%	13F
Dimensional Fund Advisors	1.46%	13F
Morgan Stanley	1.45%	13F
FMR (Fidelity)	1.34%	13F

Percentages above are of 89,098,647 shares outstanding, as reported by Packaging Corporation of America on its Form 10-Q dated 2026-05-01 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Packaging Corporation of America’s 10-Q dated 2026-05-01. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At Packaging Corporation of America's shareholder meeting held 2026-05-12, in the 2025-2026 proxy season, 791 asset managers reported how they voted in their SEC Form N-PX filings, covering 9,341 separate fund positions. Their filings are grouped here into 28 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. Packaging Corporation of America's own Form 8-K tally for this meeting is published below, but no row in it could be matched to the most widely held item, so this page states no certified outcome for that item. On that item — Proposal to approve our executive compensation. — the reporting funds cast 98% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

Packaging Corporation of America proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).