Form 4: Director Thomas E. Whiddon Acquires Additional Sonoco Products Co. Phantom Stock Units

Director Thomas E. Whiddon reports acquisition of phantom stock units through a dividend reinvestment in Sonoco Products Co.'s deferred compensation plan.

Summary

• On June 10, 2024, Thomas E. Whiddon, a director of Sonoco Products Co., acquired 501.3 phantom stock units.
• The acquisition was part of a quarterly dividend reinvestment within the company's directors' deferred compensation plan.
• The price per share was $59.16.
• Following the transaction, Whiddon directly owns 57,523.7 phantom stock units.
• These units are the economic equivalent of Sonoco Products Co. common stock and will be settled upon Whiddon's retirement or termination of service.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of phantom stock units through dividend reinvestment indicates confidence in the company's performance, but it's a routine transaction.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• Dividend reinvestment plans can be seen as a positive sign of confidence in the company's performance.

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 standard disclosures required by the SEC for company insiders, providing transparency into their transactions involving the company's securities. This particular filing reflects a director's participation in a dividend reinvestment program, a common practice among corporate executives.

Comparison to Industry Standards

• Dividend reinvestment plans are a common practice among publicly traded companies, including competitors of Sonoco Products Co.
• Similar filings can be observed for directors and officers of companies like International Paper, WestRock, and Packaging Corporation of America, reflecting their participation in similar compensation and investment programs.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency to shareholders regarding insider transactions.

Key Dates