Form 4: International Paper Director Sells 600 Shares Under 10b5-1 Plan
SEC Form 4 Filing
Kathryn D. Sullivan, a director at International Paper, sold 600 shares of common stock on June 28, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On June 28, 2024, Kathryn D. Sullivan, a director of International Paper, sold 600 shares of the company's common stock.
- The sale was executed at a price of $42.77 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
- Following the transaction, Sullivan beneficially owns 42,802 shares of International Paper common stock.
- This total includes previously credited dividend equivalents acquired on June 14, 2024, under the company's Long-Term Incentive Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a pre-planned stock sale by a company director. It doesn't contain information that would significantly shift investor sentiment.
Industry Context
Sales by insiders are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any specific inside information.
Key Dates
| Date | Description |
|---|---|
| 2023-11-14 | Date the Rule 10b5-1 trading plan was adopted. |
| 2024-06-14 | Date of acquisition of dividend equivalents. |
| 2024-06-28 | Date of the share sale transaction. |
| 2024-07-01 | Date of the Form 4 filing. |
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