Form 4: International Paper Director Sells 600 Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Kathryn D. Sullivan, a director at International Paper, sold 600 shares of common stock on October 31, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On October 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 $53.5 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
- Following the transaction, Sullivan beneficially owns 38,345 shares of International Paper common stock, including previously credited dividend equivalents.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine transaction. The sentiment is neutral as it simply reports a sale of shares under a pre-arranged plan.
Industry Context
Sales by insiders are a normal part of corporate governance. The use of a 10b5-1 plan suggests the insider is selling shares in a pre-planned manner to avoid accusations of trading on inside information. It is common for directors to have these plans in place.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| 2023-11-14 | Date the reporting person adopted the Rule 10b5-1 trading plan |
| 2024-10-31 | Date of the transaction (sale of shares) |
| 2024-11-01 | Date of signature on the Form 4 filing |
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