Form 4: Sonoco Director Richard G. Kyle Reports Acquisition of Phantom Stock Units

Director Richard G. Kyle reports acquisition of phantom stock units through a dividend reinvestment in Sonoco Products Company's directors' deferred compensation plan.

Summary

• On June 10, 2024, Richard G. Kyle, a director of Sonoco Products Co, acquired 191.2 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 $59.16.
• Following the transaction, Kyle directly owns 21,932.7 phantom stock units.
• These units are the economic equivalent of Sonoco Products Company common stock and will be settled upon Kyle's retirement or termination of service.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment and alignment with the company's long-term performance.

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. Dividend reinvestment plans are a common way for directors to increase their holdings in the company.

Stakeholder Impact

• The transaction signals confidence from a director in the company's future performance, which can positively influence shareholder sentiment.

Key Dates