Form 4: International Paper Executive VP Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
William Thomas Hamic, Executive VP of International Paper, disposed of shares to cover tax obligations related to vesting restricted stock units.
Summary
- William Thomas Hamic, an Executive VP & President at International Paper, filed a Form 4 detailing changes in beneficial ownership of International Paper stock.
- On February 3, 2025, Hamic disposed of 1,199 shares of common stock at $55.63 per share to cover tax obligations related to the vesting of restricted stock units granted on January 1, 2023.
- Additionally, 1,324 shares were disposed of at the same price to cover tax obligations related to the vesting of restricted stock units granted on January 1, 2024.
- Following these transactions, Hamic directly owns 97,919 shares of International Paper common stock.
- Hamic also indirectly owns 1,065 shares through the International Paper Company Salaried Savings Plan and 14,303 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 for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into insider transactions. The sale of shares to cover tax obligations is a common practice.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and do not represent a significant change in the executive's overall holdings.
Key Dates
| Date | Description |
|---|---|
| January 1, 2023 | Date of grant for the 2023 Restricted Stock Unit Award. |
| January 1, 2024 | Date of grant for the 2024 Restricted Stock Unit Award. |
| January 31, 2025 | Date of plan statement for International Paper Company Salaried Savings Plan and Deferred Compensation Savings Plan. |
| February 3, 2025 | Date of stock disposal transactions. |
| February 4, 2025 | Date of Form 4 filing. |
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