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

Director Eleni Istavridis acquired phantom stock units equivalent to 629.3 shares of Sonoco Products Co. common stock under the company's directors deferred compensation plan.

Summary

• On April 1, 2024, Eleni Istavridis, a director of Sonoco Products Co., acquired 629.3 phantom stock units.
• These units were accrued under the Sonoco Products Company directors deferred compensation plan.
• Each phantom stock unit is equivalent to one share of Sonoco Products Company common stock.
• The units will be settled in Sonoco Products Company common stock 6 months after Istavridis' retirement.
• Following the transaction, Istavridis beneficially owns 8,485.1 phantom stock units.
• The price of the phantom stock units was $57.6.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard transaction disclosure. The acquisition of stock units by a director is generally viewed as a positive sign, but it's not a major event.

Positives

• The acquisition of phantom stock units by a director can be seen as a positive sign, indicating 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

This filing is a routine disclosure of a director's acquisition of phantom stock units, a common form of executive compensation.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it signals director confidence.

Key Dates