Form 4: Director Steven L. Boyd Acquires Additional Sonoco Products Co. Phantom Stock Units

Director Steven L. Boyd acquired 33.3 phantom stock units of Sonoco Products Co. through a quarterly dividend reinvestment.

Summary

• On June 10, 2024, Steven L. Boyd, a director of Sonoco Products Co., acquired 33.3 phantom stock units.
• The acquisition was part of a quarterly dividend reinvestment within the company's directors' deferred compensation plan.
• The price per phantom stock unit was $59.16.
• Following the transaction, Boyd directly owns 3,817.1 phantom stock units.
• These units are the economic equivalent of Sonoco Products Co. common stock and will be settled upon Boyd's retirement or termination of service.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a director is generally a positive sign, indicating confidence in the company. The transaction itself is routine and expected.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• Dividend reinvestment plans are generally viewed positively as they align director's interests with shareholders.

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 to align their interests with those of shareholders. Phantom stock units are a common form of deferred compensation.

Stakeholder Impact

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

Key Dates