Form 4: International Paper Executive Reports Stock Transactions to Cover Tax Obligations

Joseph R. Saab, SVP, GC and Corp. Secretary of International Paper, reports the withholding of shares to cover tax obligations related to vesting restricted stock units.

Summary

• Joseph R. Saab, a Senior Vice President, General Counsel, and Corporate Secretary at International Paper, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• The report indicates that shares were withheld to cover tax obligations related to the vesting of restricted stock units.
• Specifically, 674 shares were withheld on February 3, 2025, at a price of $55.63 to cover taxes related to the 2023 Restricted Stock Unit Award.
• Additionally, 830 shares were withheld on the same date and at the same price to cover taxes related to the 2024 Restricted Stock Unit Award.
• Following these transactions, Saab directly owns 17,917 shares of International Paper common stock.
• Saab also indirectly owns 13,507 shares through the International Paper Company Salaried Savings Plan and 8,118 common stock units through the International Paper Company Deferred Compensation Savings Plan.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions related to tax obligations. It doesn't convey any particularly positive or negative sentiment about the company's performance or future prospects.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's view of the company's prospects.

Comparison to Industry Standards

• Form 4 filings are standard practice across all publicly traded companies in the United States, as mandated by the Securities and Exchange Commission (SEC).
• Companies like WestRock, Smurfit Kappa, and Packaging Corporation of America also have executives who regularly file Form 4s to report their transactions in company stock.
• The specifics of each filing, such as the number of shares traded and the reasons for the transaction (e.g., vesting of restricted stock units, exercising options), are unique to the individual and their compensation package.

Key Dates