Form 4: International Paper Director Sells 600 Shares Under 10b5-1 Plan

Kathryn D. Sullivan, a director at International Paper, sold 600 shares of common stock at $56.19 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Kathryn D. Sullivan, a director at International Paper, sold 600 shares of the company's common stock on November 15, 2024.
• The sale was executed at a price of $56.19 per share.
• This transaction was conducted under a pre-established Rule 10b5-1 trading plan adopted on November 14, 2023.
• Following the sale, Sullivan's total holdings amount to 37,745 shares, which includes previously credited dividend equivalents.
• Dividend equivalents are acquired through a dividend investment feature of the company's Long-Term Incentive Plan and vest at the same time as the related award.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of a stock sale by a director under a pre-arranged plan, which is neither positive nor negative for the company's outlook.

Industry Context

This is a routine filing related to insider trading activity and is common for directors of publicly traded companies. The use of a 10b5-1 plan indicates a pre-planned sale, which is a common practice to avoid accusations of trading on inside information.

Comparison to Industry Standards

• The use of a 10b5-1 trading plan is a standard practice among corporate insiders at companies like International Paper, similar to other large publicly traded companies such as WestRock, Packaging Corporation of America, and Domtar.
• These plans allow insiders to sell shares at predetermined times and prices, mitigating the risk of insider trading allegations.
• The reported transaction is consistent with typical Form 4 filings seen across the industry, where directors and officers disclose their trading activities.

Stakeholder Impact

• The sale of shares by a director may have a minor impact on shareholder sentiment, but the pre-planned nature of the sale under a 10b5-1 plan mitigates any significant concerns.

Key Dates

Keywords

International Paper, insider trading, Form 4, Rule 10b5-1, stock sale, director, equity securities