Form 4: Director McGarvie Increases Holdings in Sonoco Products Co.

Director Blythe J. McGarvie accrued phantom stock units under the Sonoco Products Company directors deferred compensation plan.

Summary

• On October 1, 2024, Blythe J. McGarvie, a director of Sonoco Products Co., acquired 667.3 phantom stock units.
• These units were accrued under the Sonoco Products Company directors deferred compensation plan.
• The price per share was $54.32.
• Following the transaction, McGarvie directly owns 26,965.6 phantom stock units.
• These units are the economic equivalent of common stock and will be settled in Sonoco Products Company common stock 6 months after the reporting person's retirement.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. A director increasing their stake in the company is generally viewed favorably, suggesting confidence in the company's prospects. However, it's a routine transaction related to deferred compensation.

Positives

• The director's increased stake could be interpreted as a sign of 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' stock acquisitions are common and often viewed as a positive signal, aligning management's interests with those of shareholders. Deferred compensation plans are a typical component of executive compensation packages.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders, as it signals confidence from a director.

Key Dates