KapStone Announces Executive Sale of Stock
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KapStone Paper and Packaging Corp., Northbrook, Ill., USA, this week announced that Matthew Kaplan, president and COO, sold 350,000 common shares of the company. Kaplan is selling the shares to generate liquidity to meet some near-term obligations. The sale represents approximately 10% of Kaplan's individual interest in KapStone, which, post sale, exceeds 3,000,000 shares.
KapStone Paper and Packaging Corp. is the fifth largest producer of containerboard and corrugated packaging products in the U.S. and is the country’s largest kraft paper producer. The company is the parent company of KapStone Kraft Paper Corp. and KapStone Container Corp., which includes four paper mills and 22 converting plants, respectively, across the U.S. The business employs approximately 4,600 people.
