Form 4: Sonoco Director Boyd Boosts Phantom Stock Holdings

Sonoco Products Co. Director Steven L. Boyd acquired 109.7 phantom stock units on December 10, 2025, as part of a quarterly dividend from the company's deferred compensation plan.

Summary

• Steven L. Boyd, a Director of Sonoco Products Co. (SON), acquired 109.7 phantom stock units.
• The transaction occurred on December 10, 2025.
• These units were acquired as a quarterly dividend on Sonoco Products Company's directors' deferred compensation plan.
• Each phantom stock unit is economically equivalent to one share of Sonoco common stock.
• The units will be settled upon Mr. Boyd's retirement or other termination of service.
• Following this transaction, Mr. Boyd beneficially owns 8,792.3 phantom stock units.
• The price of the derivative security was $41.93 per unit.

Sentiment

Score: 7

Explanation: The acquisition of additional phantom stock units by a director, even if through a compensation plan, generally indicates continued alignment of interests with the company's long-term performance. It's a positive signal for insider ownership, though not a direct cash investment.

Positives

• Increased alignment of a director's interests with shareholders through additional phantom stock unit acquisition.
• The acquisition is part of a structured deferred compensation plan, indicating a stable compensation mechanism for directors.

Negatives

• The acquisition is not a direct open-market purchase, meaning it does not represent a new cash investment by the director into the company's equity.

Future Outlook

The phantom stock units will be settled upon the reporting person's retirement or other termination of service, indicating a long-term retention mechanism.

Industry Context

This routine insider transaction reflects standard executive compensation practices within the manufacturing and packaging industry, where deferred equity-linked compensation is common to align long-term interests.

Comparison to Industry Standards

• The use of phantom stock units as part of a deferred compensation plan is a common practice among publicly traded companies, including those in the packaging and industrial sectors, to incentivize long-term commitment and align director interests with shareholder value. No specific comparable companies or projects are detailed in this filing.

Related Party Transactions

• The acquisition of phantom stock units by Director Steven L. Boyd is part of Sonoco Products Company's directors' deferred compensation plan, representing a transaction between the company and a related party (director).

Stakeholder Impact

• Shareholders: Minor positive impact due to increased alignment of a director's long-term interests with shareholder value through equity-linked compensation.

Next Steps

• Settlement of the phantom stock units upon the reporting person's retirement or other termination of service.

Key Dates

Keywords

Sonoco Products Co, SON, Steven L Boyd, Director, Phantom Stock Units, Insider Transaction, Form 4, Deferred Compensation, Equity Compensation