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 $46.26 per share under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On July 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 $46.26 per share.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
• Following the transaction, Sullivan beneficially owns 41,602 shares of International Paper common stock, including previously credited dividend equivalents.

Sentiment

Score: 5

Explanation: The document reports a routine transaction (sale of shares under a pre-arranged plan) by a company director, which is neither particularly positive nor negative.

Industry Context

Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 plan allows insiders to sell shares at predetermined times and prices, avoiding accusations of trading on inside information.

Comparison to Industry Standards

• Insider sales are a normal part of corporate governance.
• Companies like WestRock and Smurfit Kappa also see regular insider trading activity.
• The volume of shares sold is relatively small compared to the total outstanding shares of International Paper.

Key Dates