Form 4: Director Theresa J. Drew Reports Acquisition of Phantom Stock Units in Sonoco Products Co

Theresa J. Drew, a director of Sonoco Products Co, reported the acquisition of phantom stock units under the company's directors deferred compensation plan.

Summary

• On April 1, 2024, Director Theresa J. Drew acquired 629.3 phantom stock units of Sonoco Products Co.
• 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 units are to be settled in Sonoco Products Company common stock 6 months after Drew's retirement.
• Following the transaction, Drew directly owns 13,911.5 shares of Sonoco Products Co.
• The price of the phantom stock units was $57.6.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director's continued investment in the company through a standard compensation mechanism.

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

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

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

Key Dates