Form 4: Sonoco Director Istavridis Reports Acquisition of Phantom Stock Units

Director Eleni Istavridis reports acquiring phantom stock units through a dividend reinvestment in Sonoco Products Company's directors' deferred compensation plan.

Summary

• On September 10, 2024, Eleni Istavridis, a director of Sonoco Products Co, acquired 89 phantom stock units.
• The acquisition was part of a quarterly dividend reinvestment within the Sonoco Products Company's directors' deferred compensation plan.
• The price per phantom stock unit was $54.24.
• Following the transaction, Istavridis directly owns 9,369.2 phantom stock units.
• These units are the economic equivalent of Sonoco Products Company common stock and will be settled upon retirement or termination of service.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of phantom stock units through a dividend reinvestment plan is a routine event and reflects a continued alignment of the director's interests with the company's performance.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• The dividend reinvestment plan allows directors to increase their stake in the company over time.

Future Outlook

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

Industry Context

Directors often receive stock or stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders. Phantom stock units are a common form of deferred compensation.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders as it reflects the director's ongoing commitment to the company.

Key Dates