Packaging Corporation of America CEO Mark Kowlzan's 2021 pay rises 16% to $12M

Packaging Corporation of America reports 2021 executive compensation

By ExecPay News

Published: March 25, 2022

Packaging Corporation of America reported fiscal year 2021 executive compensation information on March 25, 2022.

In 2021, five executives at Packaging Corporation of America received on average a compensation package of $6.2M, a 16% increase compared to previous year.

Average pay of disclosed executives at Packaging Corporation of America

Mark W. Kowlzan, Chief Executive Officer, received $12M in total, which increased by 16% compared to 2020. 55% of Kowlzan's compensation, or $6.7M, was in stock awards. Kowlzan also received $325K of change in pension value and nonqualified deferred compensation earnings, $3.6M in non-equity incentive plan, $1.4M in salary, as well as $70K in other compensation.

Thomas A. Hassfurther, Executive Vice President Corrugated Products, received a compensation package of $8.5M, which increased by 9% compared to previous year. 55% of the compensation package, or $4.7M, was in stock awards.

Robert P. Mundy, Chief Financial Officer, earned $4.2M in 2021, a 26% increase compared to previous year.

Charles J. Carter, Executive Vice President Mill Operations, received $3.1M in 2021, which increases by 24% compared to 2020.

Donald R. Shirley, Senior Vice President, Corporate Engineering and Process Technology, earned $2.8M in 2021, a 12% increase compared to previous year.