Form 4: Director Steven L. Boyd Increases Sonoco Phantom Stock
Statement of Changes in Beneficial Ownership
Director Steven L. Boyd acquired 114.2 phantom stock units in Sonoco Products Co. via a dividend reinvestment plan.
Summary
- Director Steven L. Boyd acquired 114.2 phantom stock units on June 10, 2026.
- The acquisition was made through the company's directors' deferred compensation plan.
- The transaction price was $48.99 per unit.
- Following this transaction, the director holds a total of 10,476.2 phantom stock units.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing reflecting standard director compensation practices with no material impact on company strategy or financial health.
Positives
- Director demonstrates continued alignment with shareholder interests through the accumulation of equity-linked compensation.
Risks
- Phantom stock units are subject to the long-term performance and credit risk of the issuer as they are settled upon retirement or termination of service.
Future Outlook
The phantom stock units will be settled in common stock upon the reporting person's retirement or other termination of service.
Industry Context
StockSavvy.ai notes that director participation in deferred compensation plans via phantom stock is a standard corporate governance practice designed to align board member incentives with long-term company performance.
Comparison to Industry Standards
- The use of phantom stock for director compensation is consistent with standard practices among S&P MidCap 400 industrial companies.
- Dividend reinvestment within deferred compensation plans is a common mechanism for directors to increase their equity exposure without immediate cash outlay.
Stakeholder Impact
- Minimal impact on shareholders as this is a routine director compensation transaction.
Next Steps
- The acquired units will remain in the deferred compensation plan until the director's retirement or termination of service.
Key Dates
| Date | Description |
|---|---|
| 06/10/2026 | Date of the phantom stock acquisition transaction. |
| 06/12/2026 | Date the Form 4 was signed and filed. |
Keywords
Sonoco Products, SON, Form 4, Insider Trading, Director Compensation, Phantom Stock
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