Form 4: Sonoco Products Co. Director Acquires Phantom Stock Units Through Deferred Compensation Plan

Eleni Istavridis, a director at Sonoco Products Co., acquired phantom stock units through the company's deferred compensation plan.

Summary

• Eleni Istavridis, a director at Sonoco Products Co., acquired phantom stock units on December 10, 2024.
• The acquisition was part of the quarterly dividend on Sonoco Products Company's directors' deferred compensation plan.
• A total of 10,138 phantom stock units were acquired at a price of $101.50 per unit.
• Each phantom stock unit is economically equivalent to one share of Sonoco Products Company common stock.
• The phantom stock units will be settled upon the reporting person's retirement or other termination of service.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The deferred compensation plan provides a long-term incentive for the director.

Future Outlook

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

Industry Context

Deferred compensation plans are a common practice for compensating directors and aligning their interests with the long-term performance of the company.

Comparison to Industry Standards

• Many public companies use phantom stock or similar equity-based compensation plans for directors.
• The specific terms of the plan, such as vesting and settlement conditions, are typical for these types of arrangements.
• The value of the phantom stock units is tied to the company's stock price, which is a standard practice.

Stakeholder Impact

• The acquisition of phantom stock units has a minor positive impact on shareholders as it aligns director interests with the company's long-term performance.

Key Dates

Keywords

phantom stock, deferred compensation, director, Sonoco Products Co., equity compensation