Pactiv Evergreen execs sold over 50K shares before announcing devastating paper mill closure in NC small town [Video]

Executives with Pactiv Evergreen sold off hundreds of thousands of dollars worth of shares before announcing the closure of the century-old paper mill at the heart of Canton, North Carolina.

Pactiv Evergreen, a product packaging company based in Lake Forest, Illinois, announced Monday that the historic plant is shutting down in the coming months. It employs 1,100 people and is considered a keystone of the local economy.

CENTURY-OLD NC PAPER MILL THAT EMPLOYS 1,100 TO ABRUPTLY CLOSE, MAYOR SAYS SMALL TOWN’S SOUL IS BEING RIPPED OUT

It now appears executives with the company sold off more than 50,000 shares of stock before the closure was announced, according to SEC filings reported by WLOS ABC13 News.

The executives’ shares were sold on March 2 — and union representatives with Smokey Mountain Local 507 were reportedly told about the plans to close the paper mill by Pactiv Evergreen officials on March 6.

The shares were sold for $11.30 a …