Form 4: Sonoco Director John R. Haley Reports Acquisition of Phantom Stock Units

Director John R. Haley reports acquiring 521 phantom stock units of Sonoco Products Co. through a quarterly dividend reinvestment.

Summary

• On March 8, 2024, John R. Haley, a director of Sonoco Products Co., acquired 521 phantom stock units.
• The acquisition was part of a quarterly dividend reinvestment within the company's directors' deferred compensation plan.
• The price per phantom stock unit was $57.55.
• Following the transaction, Haley directly owns 59,302.7 phantom stock units.
• These units are the economic equivalent of Sonoco Products Company common stock and will be settled upon Haley's retirement or termination of service.

Sentiment

Score: 7

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

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• Dividend reinvestment plans are generally viewed positively as they align director's interests with those of shareholders.

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 to align their interests with shareholders. Phantom stock units are a common form of deferred compensation.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders as it aligns the director's interests with those of the shareholders.

Key Dates