Form 4: Director Istavridis Acquires Phantom Stock Units in Sonoco Products Co.

Director Eleni Istavridis acquired phantom stock units in Sonoco Products Co. under the directors deferred compensation plan.

Summary

• On July 1, 2024, Eleni Istavridis, a director of Sonoco Products Co., acquired 720.5 phantom stock units.
• The acquisition was made under the Sonoco Products Company directors deferred compensation plan.
• These units are to be settled in Sonoco Products Company common stock 6 months after Istavridis' retirement.
• Following the transaction, Istavridis directly owns 9,280.2 phantom stock units.
• The price of the phantom stock units was $50.31.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of phantom stock units by a director is generally seen as a positive sign, indicating confidence in the company's future.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.

Future Outlook

The phantom stock units will be settled in Sonoco Products Company common stock 6 months after the reporting person's retirement.

Industry Context

Directors often receive stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders. Phantom stock units are a common form of deferred compensation.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.

Key Dates