Stephen R. Scherger - 21 Feb 2022 Form 4 Insider Report for GRAPHIC PACKAGING HOLDING CO (GPK)

Role: EVP and CFO
Signature: /s/ Laura Lynn Church, Attorney-in-Fact
Issuer symbol: GPK
Transactions as of: 21 Feb 2022
Net transactions value: -$1,423,731
Form type: 4
Filing time: 23 Feb 2022, 10:47:16 UTC
Next filing: 24 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	GPK	Common Stock	Options Exercise	$0	+156,162	+37%	$0.000000	576,360	21 Feb 2022	Direct
transaction	GPK	Common Stock	Tax liability	$1,423,731	-70,412	-12%	$20.22	505,948	21 Feb 2022	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	GPK	Service-Based Restricted Stock Units	Options Exercise	$0	-44,213	-100%	$0.000000^*	0	21 Feb 2022	Common Stock	44,213	$0.000000	Direct
transaction	GPK	Performance-Based Restricted Stock Units	Options Exercise	$0	-88,427	-100%	$0.000000^*	0	21 Feb 2022	Common Stock	111,949	$0.000000	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Based on the performance of the Company, each Performance-Based Restricted Stock Unit pays out in 1.266 shares of Common Stock.