Form 4: Director Robert R. Hill Jr. Acquires Additional Sonoco Products Co. Phantom Stock Units

Robert R. Hill Jr., a director of Sonoco Products Co., acquired 177.4 phantom stock units through a dividend reinvestment in the company's deferred compensation plan.

Summary

• On June 10, 2024, Robert R. Hill Jr., a director of Sonoco Products Co. [SON], acquired 177.4 phantom stock units.
• The acquisition was part of a quarterly dividend reinvestment within Sonoco Products Company's directors' deferred compensation plan.
• The price per phantom stock unit was $59.16.
• Following the transaction, Hill directly owns 20,361.9 phantom stock units.
• Each phantom stock unit is economically equivalent to one share of Sonoco Products Company common stock and will be settled upon the reporting person's retirement or other termination of service.

Sentiment

Score: 7

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

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.

Future Outlook

The phantom stock units will be settled upon the reporting person's retirement or other termination of service.

Industry Context

Directors often receive stock or stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders. Phantom stock units are a common form of deferred compensation.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders as it reflects the director's continued investment in the company.

Key Dates