Form 4: International Paper Director Sells 600 Shares Under 10b5-1 Trading Plan
SEC Form 4
Kathryn D. Sullivan, a director at International Paper, sold 600 shares of common stock at $36.09 per share under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On March 15, 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 $36.09 per share.
- The transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
- Following the transaction, Sullivan directly owns 41,984 shares of International Paper's common stock.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to a stock sale under a pre-arranged trading plan, indicating a neutral sentiment.
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.
Stakeholder Impact
- The sale of shares by a director could have a minor impact on shareholder sentiment, but the use of a 10b5-1 plan mitigates concerns about insider trading.
Key Dates
| Date | Description |
|---|---|
| 11/14/2023 | Date the Rule 10b5-1 trading plan was adopted by the reporting person |
| 03/15/2024 | Date of the transaction (stock sale) |
| 03/18/2024 | Date of signature on the SEC Form 4 filing |
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