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 April 30, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On April 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 $34.94 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
- Following the transaction, Sullivan directly owns 40,588 shares of International Paper common stock, including previously credited dividend equivalents.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding a stock sale by a company director under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a normal part of corporate governance. The use of a 10b5-1 plan suggests the sale was pre-planned and not based on any inside information at the time of the transaction.
Stakeholder Impact
- The sale of shares by a director could have a minor impact on shareholder confidence, but the existence of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 2023-11-14 | Date the reporting person adopted the Rule 10b5-1 trading plan |
| 2024-04-30 | Date of the transaction (sale of shares) |
| 2024-05-01 | Date of the Form 4 filing |
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