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

Summary

• On April 1, 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 $38.92 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
• Following the transaction, Sullivan beneficially owns 41,788 shares of International Paper common stock, which includes previously credited dividend equivalents acquired on March 15, 2024.
• 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 standard regulatory filing detailing a routine stock sale by a company director under a pre-existing trading plan. It doesn't inherently convey positive or negative sentiment.

Industry Context

This Form 4 filing is a routine disclosure of insider trading activity. It provides transparency to the market regarding the transactions of company insiders. The use of a 10b5-1 plan suggests the director's sales are pre-planned and not based on current, non-public information.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The use of a 10b5-1 trading plan is a common method for corporate insiders to sell shares without raising concerns about insider trading, similar to practices at companies like WestRock and Packaging Corporation of America.

Stakeholder Impact

• The sale of shares by a director could have a minor negative impact on shareholder confidence, but the use of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates