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 May 31, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On May 31, 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 $44.58 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
- Following the transaction, Sullivan directly owns 45,479 shares of International Paper common stock, including dividend equivalents acquired through the company's Long-Term Incentive Plan.
Sentiment
Score: 5
Explanation: Neutral sentiment as it reports a routine transaction under a pre-existing trading plan. No indication of positive or negative outlook.
Industry Context
Sales by insiders are a common occurrence and are often pre-planned to avoid accusations of trading on inside information. The use of a 10b5-1 plan provides a legal framework for insiders to sell shares at predetermined times and prices.
Stakeholder Impact
- The sale of shares by a director could be perceived neutrally by shareholders as it was conducted under a pre-arranged plan.
Key Dates
| Date | Description |
|---|---|
| 2023-11-14 | Date the reporting person adopted the Rule 10b5-1 trading plan. |
| 2024-05-31 | Date of the transaction (sale of shares). |
| 2024-06-03 | Date of signature on the Form 4 filing. |
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