Form 4: Director Istavridis Reports Acquisition of Phantom Stock Units in Sonoco Products Co

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

Summary

• On April 1, 2025, Director Eleni Istavridis acquired 756.3 phantom stock units of Sonoco Products Co. at a price of $47.96 per unit.
• These units were accrued under the Sonoco Products Company directors deferred compensation plan.
• The phantom stock units are to be settled in Sonoco Products Company common stock 6 months after Istavridis' retirement.
• Following the transaction, Istavridis beneficially owns 11,769.2 phantom stock units.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, which is generally viewed as a positive aspect of corporate governance.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The deferred compensation plan incentivizes long-term commitment to the company.

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 insider transactions, which are common in publicly traded companies. Directors often receive stock-based compensation as part of their overall remuneration.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice among publicly traded companies, including competitors like WestRock and International Paper.
• Deferred compensation plans are also frequently used to retain key personnel and align their interests with long-term shareholder value.
• The specific amount and terms of the phantom stock units are likely determined based on Sonoco's compensation policies and industry benchmarks.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the company's long-term performance.

Key Dates

Keywords

phantom stock units, director compensation, Form 4, Sonoco Products Co, insider trading, Eleni Istavridis, deferred compensation plan