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

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

Summary

• On September 10, 2024, Theresa J. Drew, a director of Sonoco Products Co., acquired 141.5 phantom stock units.
• The acquisition was part of a quarterly dividend reinvestment within the Sonoco Products Company's directors' deferred compensation plan.
• The price of the phantom stock units was $54.24 per unit.
• Following the transaction, Drew directly owns 14,895.8 phantom stock units.
• These 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 slightly positive. The director's participation in the dividend reinvestment plan suggests confidence in the company, but it's a routine transaction.

Positives

• The director's participation in the dividend reinvestment plan signals confidence in the company's future.

Future Outlook

The phantom stock units will be settled upon the reporting person's retirement or other termination of service.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This particular filing reflects a director's participation in a dividend reinvestment program, which is a common practice.

Comparison to Industry Standards

• Director compensation through deferred compensation plans and phantom stock units is a common practice among publicly traded companies.
• Companies like International Paper and WestRock, which operate in similar industries, also utilize deferred compensation plans for their directors.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is a routine part of director compensation.

Key Dates