Form 4: Sonoco Director Eleni Istavridis Reports Phantom Stock Unit Acquisition
SEC Form 4 Filing
Director Eleni Istavridis reports acquisition of phantom stock units under Sonoco's deferred compensation plan.
Summary
- On January 2, 2025, Eleni Istavridis, a director of Sonoco Products Co, acquired 755.1 phantom stock units.
- These units were accrued under the company's directors deferred compensation plan.
- Each phantom stock unit is equivalent to one share of Sonoco Products Company common stock.
- The units will be settled in Sonoco Products Company common stock six months after Istavridis' retirement.
- The price of the phantom stock units was $48.01.
- Following the transaction, Istavridis directly owns 10,893.1 phantom stock units.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing, so the sentiment is neither positive nor negative.
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
This Form 4 filing is a routine disclosure of insider transactions, providing transparency into the holdings of company directors. It is common for directors to receive stock-based compensation as part of their overall remuneration.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it involves phantom stock units granted as part of director compensation.
Key Dates
| Date | Description |
|---|---|
| 01/02/2025 | Date of transaction: Eleni Istavridis acquired phantom stock units. |
| 01/06/2025 | Date of report filing. |
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