Form 4: International Paper Director Sells 600 Shares Under 10b5-1 Trading Plan

Kathryn D. Sullivan, a director at International Paper, sold 600 shares of common stock at $47.90 per share on August 30, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On August 30, 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 $47.90 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
• Following the transaction, Sullivan directly owns 40,402 shares of International Paper common stock, including dividend equivalents acquired through the company's Long-Term Incentive Plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transaction is a routine sale under a pre-arranged trading plan and doesn't necessarily reflect a positive or negative outlook on the company.

Industry Context

This is a routine disclosure of insider trading activity. Sales by insiders are common and not necessarily indicative of negative sentiment towards the company, especially when conducted under a pre-arranged trading plan.

Comparison to Industry Standards

• Insider trading activity is common across publicly listed companies.
• Rule 10b5-1 trading plans are a standard practice to allow insiders to sell shares while avoiding accusations of trading on non-public information.
• Comparing Sullivan's trading activity to other directors in similar paper and packaging companies (e.g., WestRock, Packaging Corporation of America) would provide a better benchmark, 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 is unlikely to have a significant effect given the relatively small number of shares sold and the existence of a pre-arranged trading plan.

Key Dates