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 on April 15, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On April 15, 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 $37.78 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
• Following the transaction, Sullivan beneficially owns 41,188 shares of International Paper common stock, including previously credited dividend equivalents acquired on March 15, 2024.
• These dividend equivalents are acquired pursuant to a dividend reinvestment feature of the Company's Long-Term Incentive Plan and vest at the same time as the award to which they relate.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a pre-planned stock sale by a company director. It doesn't inherently convey positive or negative sentiment.

Industry Context

Sales by company directors are a normal part of corporate governance. The use of a 10b5-1 plan indicates that the sales were pre-planned and not based on insider information.

Comparison to Industry Standards

• Director share sales are common across publicly traded companies.
• The use of Rule 10b5-1 plans is a standard practice to avoid insider trading concerns.
• Comparing Sullivan's transactions to those of directors at similar companies like WestRock or Packaging Corporation of America would provide further context, but that data is not available in this document.

Stakeholder Impact

• The sale of shares by a director could have a minor impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.
• The impact on employees, customers, suppliers, and creditors is likely to be negligible.

Key Dates