Form 4: Sonoco Director Acquires Phantom Stock Units

Sonoco Products Company Director John R. Haley acquired 860.3 phantom stock units through a quarterly dividend on his deferred compensation plan.

Summary

• John R. Haley, a Director of Sonoco Products Company (SON), acquired 860.3 phantom stock units.
• The transaction occurred on September 10, 2025, as part of a quarterly dividend on the company's directors' deferred compensation plan.
• Each phantom stock unit is the economic equivalent of one share of Sonoco Products Company common stock.
• The phantom stock units were acquired at an implied price of $46.06 per unit.
• Following this transaction, John R. Haley beneficially owns 75,630.3 phantom stock units directly.
• These units will be settled upon the reporting person's retirement or other termination of service.

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a director, even as part of a routine compensation plan, generally indicates continued confidence in the company's long-term prospects and aligns management interests with shareholders. This is a mildly positive signal.

Positives

• John R. Haley, a Director, increased his beneficial ownership of Sonoco Products Company through the acquisition of 860.3 phantom stock units, signaling continued alignment with shareholder interests.
• The acquisition is part of a structured deferred compensation plan, indicating a long-term commitment from the director.

Negatives

• No negative information was disclosed in this routine insider transaction filing.

Risks

• No specific risks were identified in this Form 4 filing.

Future Outlook

The filing does not contain specific forward-looking statements beyond the settlement condition of the phantom stock units upon the reporting person's retirement or termination of service.

Management Comments

• The transaction reflects the company's established director deferred compensation plan, where phantom stock units are acquired as quarterly dividends.

Industry Context

The acquisition of phantom stock units as part of a deferred compensation plan is a common practice for public company directors, aligning their interests with long-term shareholder value and is a standard component of executive and director compensation packages across various industries.

Comparison to Industry Standards

• This type of director compensation, involving phantom stock units tied to company performance and deferred until retirement, is a standard corporate governance practice observed across many publicly traded companies, including peers in the packaging and industrial products sectors such as WestRock Company or Packaging Corporation of America, which often utilize similar equity-based compensation structures to align director incentives with long-term shareholder returns.

Related Party Transactions

• The acquisition of phantom stock units by Director John R. Haley from Sonoco Products Company is a related party transaction, executed as part of the company's established directors' deferred compensation plan.

Stakeholder Impact

• Shareholders may view the director's increased beneficial ownership as a positive signal of management's alignment with long-term company performance and commitment.

Next Steps

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

Key Dates

Keywords

Sonoco Products Company, SON, John R. Haley, Form 4, Insider Transaction, Phantom Stock Units, Director Compensation, Deferred Compensation