[Form 4] BALL Corp Insider Trading Activity

Rhea-AI Filing Summary

Ball Corporation director Todd Allan Penegor reported vesting and settlement activity in equity awards on 09/15/2025. 1,200 restricted stock units vested (each converting to one share) and are reflected as 1,200 underlying common shares with a post-transaction beneficial ownership of 9,462 shares (direct). Simultaneously, 1,200 stock units under the Deferred Compensation Company Stock Plan are recorded as 1,200 underlying shares with 5,562.7842 shares (direct) held in the plan. Additionally, 240 shares were acquired under the Deferred Compensation plan as a company match, bringing that account to 5,802.7842 shares (direct). All reported derivative and non-derivative items have $0 exercise/price values and are direct holdings. The Form 4 is signed by an attorney-in-fact.

Positive

• Scheduled equity awards vested, converting 1,200 RSUs into common stock as disclosed
• Deferred Compensation plan settlement and company match added 1,440 shares across plan accounts
• All transactions recorded with $0 price, reflecting non-cash compensation settlement

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director Penegor had scheduled equity awards vest and received a company match; no cash purchases or option exercises reported.

The filing documents routine vesting of 1,200 restricted stock units tied to a Deposit Share Program and parallel entries under Ball's Deferred Compensation Company Stock Plan, plus a 240-share company match. All items are recorded with $0 price, indicating settlement in shares rather than a cash exercise. Transactions appear administrative and consistent with standard director compensation and deferred compensation settlement mechanics rather than market-driven trades.

Securities Analyst

TL;DR: Transactions increase the director's direct shareholdings modestly via vesting and plan matching; no immediate liquidity or dilution implied.

Reported movements include vesting events and plan settlements that add 1,440 shares in total across reported accounts. All items are disclosed as direct beneficial ownership with no cash consideration listed. The filing contains clear explanations tying the RSUs to time-based vesting and deferred compensation plan settlement rules, indicating routine compensation administration.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Penegor Todd Allan

(Last) (First) (Middle)

9200 W. 108TH CIRCLE

(Street)

WESTMINSTER CO 80021

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BALL Corp [ BALL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	09/15/2025		M			1,200(2)	(3)	(3)	Common Stock	1,200	$0	9,462	D
Deferred Compensation Company Stock Plan	(4)	09/15/2025		M		1,200(2)		(5)	(5)	Common Stock	1,200	$0	5,562.7842	D
Deferred Compensation Company Stock Plan	(4)	09/15/2025		A		240(6)		(5)	(5)	Common Stock	240	$0(7)	5,802.7842	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Ball Corporation Common Stock.

2. Lapse of restricted stock units granted in conjunction with the Deposit Share Program.

3. The restricted stock units vest on the fourth anniversary of the grant date.

4. Each unit may be settled for a single share of stock or the equivalent amount of cash pursuant to the Ball Corporation Deferred Compensation Company Stock Plan.

5. Stock units in Ball Corporation's Deferred Compensation Company Stock Plan are distributed upon the separation of service in accordance with the Plan.

6. Shares awarded under the Deferred Compensation Company Stock Plan for the Company match.

7. N/A

	/s/ Derek Redmond, attorney-in-fact to Mr. Penegor	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transactions did BALL director Todd Allan Penegor report on Form 4?

He reported vesting of 1,200 restricted stock units, 1,200 stock units in the Deferred Compensation plan, and acquisition of 240 matched shares on 09/15/2025.

How many shares does the Form 4 show after the reported transactions?

Reported post-transaction beneficial ownerships: 9,462 shares (direct) for the vested RSUs, 5,562.7842 shares (direct) in the deferred plan, and 5,802.7842 shares (direct) after the match.

Were any shares purchased for cash in these transactions?

No. All reported items show a price of $0, indicating settlement through award vesting or plan mechanisms rather than cash purchases.

Do the filings indicate when the restricted stock units originally vest?

The RSUs vest on the fourth anniversary of the grant date, as stated in the Form 4 explanations.

Who signed the Form 4 on behalf of Mr. Penegor?

/s/ Derek Redmond, attorney-in-fact to Mr. Penegor signed the filing on 09/17/2025.