ContentPadding is an option for objects that can be displayed with frames that specifies whether the vertical margins should shrink wrap tightly around the contents.
With the setting ContentPadding->True, the height of the content area of a framed object will be an integer multiple of full line heights, even if the contents of a given line do not span the full height of the line.
A setting of ContentPadding->False shrinks the content area tightly around the contents instead of rounding to the next full line height.
The internal margin of a framed object is set by adding the value of FrameMargins to the margin area controlled by ContentPadding.