Form 4: Director Robert R. Hill Jr. Reports Acquisition of Phantom Stock Units in Sonoco Products Co.

Robert R. Hill Jr., a director of Sonoco Products Co., reported the acquisition of phantom stock units under the company's directors deferred compensation plan.

Summary

• On January 2, 2025, Robert R. Hill Jr., a director of Sonoco Products Co., acquired 755.1 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 was $48.01.
• Following the transaction, Hill directly owns 22,928.8 phantom stock units.
• These units will be settled in Sonoco Products Company common stock 6 months after Hill's retirement.

Sentiment

Score: 7

Explanation: The document indicates a director's continued investment in the company through phantom stock units, which is generally a positive signal. However, it's a routine transaction related to compensation.

Positives

• The acquisition of phantom stock units by a director signals 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 often receive stock-based compensation as part of their overall remuneration package, aligning their interests with those of shareholders. Phantom stock units are a common form of deferred compensation.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across publicly traded companies.
• The specific terms of the Sonoco Products Company directors deferred compensation plan would need to be compared to those of peer companies to assess its competitiveness.
• Companies like WestRock, International Paper, and Packaging Corporation of America also likely utilize stock-based compensation for their directors.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder sentiment.

Key Dates