Form 4: Director John R. Haley Reports Acquisition of Phantom Stock Units in Sonoco Products Co

Director John R. Haley reported the acquisition of 1,864 phantom stock units in Sonoco Products Co. on October 1, 2024, under the company's directors deferred compensation plan.

Summary

• On October 1, 2024, John R. Haley, a director of Sonoco Products Co., acquired 1,864 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 price of the phantom stock units was $54.32.
• Following the transaction, Haley beneficially owns 66,083.6 phantom stock units.
• The phantom stock units are to be settled in Sonoco Products Company common stock 6 months after Haley's retirement.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of phantom stock units by a director suggests confidence in the company's future, but it's a routine transaction.

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 related to executive compensation and is typical for publicly traded companies. It reflects part of the compensation structure for directors, aligning their interests with those of shareholders through equity-based awards.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are a common component of executive compensation packages in publicly traded companies, particularly among large-cap firms like Sonoco Products Co.
• Companies such as International Paper and WestRock, which operate in similar industries, also utilize deferred compensation and equity-based awards to incentivize and retain key personnel.
• The specific terms and conditions of these plans, such as the vesting schedules and settlement methods, can vary widely based on company-specific factors and industry norms.

Stakeholder Impact

• The acquisition of phantom stock units by a director aligns their interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates