Form 4: Sonoco Director Theresa J. Drew Reports Acquisition of Phantom Stock Units

Director Theresa J. Drew reports acquiring phantom stock units through a dividend reinvestment in Sonoco Products Company's deferred compensation plan.

Summary

• Theresa J. Drew, a director of Sonoco Products Co, filed a Form 4 on June 12, 2024, reporting a transaction on June 10, 2024.
• The transaction involved the acquisition of 122.3 phantom stock units at a price of $59.16 per unit.
• These units were acquired through a quarterly dividend reinvestment in Sonoco's directors' deferred compensation plan.
• Following the transaction, Drew directly owns 14,033.8 phantom stock units.
• These units are the economic equivalent of Sonoco Products Company common stock and will be settled upon Drew's retirement or termination of service.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction indicating continued investment by a director, which is generally viewed favorably.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment in the company's future.
• Dividend reinvestment plans are generally viewed positively as they align director interests with shareholder interests.

Future Outlook

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

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a director's ongoing participation in the company's deferred compensation plan.

Stakeholder Impact

• The transaction has a minor positive impact on stakeholders as it demonstrates the director's alignment with shareholder interests through continued investment in the company.

Key Dates