diff --git a/release-notes/VERSION-2.x b/release-notes/VERSION-2.x
index ffb34165e8..997a989c5f 100644
--- a/release-notes/VERSION-2.x
+++ b/release-notes/VERSION-2.x
@@ -16,6 +16,8 @@ Project: jackson-databind
 #4577: Cannot deserialize value of type `java.math.BigDecimal` from
    String "3." (not a valid representation)
  (reported by @dmelisso)
+#4595: No way to explicitly disable wrapping in custom annotation processor
+ (reported by @SimonCockx)
 
 2.17.1 (04-May-2024)
 
diff --git a/src/main/java/com/fasterxml/jackson/databind/PropertyName.java b/src/main/java/com/fasterxml/jackson/databind/PropertyName.java
index 6a92bc260a..e514f6d20c 100644
--- a/src/main/java/com/fasterxml/jackson/databind/PropertyName.java
+++ b/src/main/java/com/fasterxml/jackson/databind/PropertyName.java
@@ -82,6 +82,9 @@ protected Object readResolve() {
                 return NO_NAME;
             }
             */
+            // 22-Jun-2024, tatu: This is hopeful not problematic as marker
+            //   value should only be provided by AnnotationIntrospector etc,
+            //   but not stored in Deserializer/Serializer instances.
         }
         return this;
     }
@@ -127,6 +130,10 @@ public static PropertyName merge(PropertyName name1, PropertyName name2) {
         if (name2 == null) {
             return name1;
         }
+        // 22-Jun-2024, tatu: [databind#4595] Should not merge NO_NAME
+        if (name1 == NO_NAME) {
+            return name1;
+        }
         String ns = _nonEmpty(name1._namespace, name2._namespace);
         String simple = _nonEmpty(name1._simpleName, name2._simpleName);