Form 4: Director Richard G. Kyle Reports Acquisition of Phantom Stock Units in Sonoco Products Co

Richard G. Kyle, a director of Sonoco Products Co, reported the acquisition of phantom stock units under the company's directors deferred compensation plan.

Summary

• On April 1, 2024, Richard G. Kyle, 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 Kyle's retirement.
• Following the transaction, Kyle directly owns 21,741.5 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan encourages long-term commitment from directors.

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

Director compensation packages often include stock-based awards to align management's interests with those of shareholders. Phantom stock units are a common tool for deferred compensation.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning management's interests with the company's long-term success.

Key Dates