Form 4: Director Theresa J. Drew Acquires Additional Sonoco Products Co. Phantom Stock Units

Theresa J. Drew, a director of Sonoco Products Co., acquired 116.6 phantom stock units through a quarterly dividend reinvestment in the company's deferred compensation plan.

Summary

• On March 8, 2024, Theresa J. Drew, a director of Sonoco Products Co., acquired 116.6 phantom stock units.
• The acquisition was made through a quarterly dividend reinvestment within Sonoco Products Company's directors' deferred compensation plan.
• The price per phantom stock unit was $57.55.
• Following the transaction, Drew directly owns 13,282.2 phantom stock units.
• These phantom stock units are the economic equivalent of Sonoco Products Company common stock and will be settled upon Drew's retirement or termination of service.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of phantom stock units by a director is generally a positive sign, indicating confidence in the company's performance. However, this is a routine transaction related to director compensation, so the impact is likely limited.

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 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 compensation package, aligning their interests with those of shareholders. This Form 4 filing reflects a routine transaction related to director compensation.

Key Dates