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

Director Pamela Lewis Davies acquired 601 phantom stock units of Sonoco Products Co. through a quarterly dividend on the company's directors' deferred compensation plan.

Summary

• Pamela Lewis Davies, a director at Sonoco Products Co., acquired 601 phantom stock units.
• These units were obtained through a quarterly dividend on the company's directors' deferred compensation plan.
• Each phantom stock unit is economically equivalent to one share of Sonoco Products Company common stock.
• The acquisition occurred on December 10, 2024, at a price of $51.46 per unit.
• The total value of the acquired phantom stock units is $30,927.46.
• The phantom stock units will be settled upon Ms. Davies' 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 positively by investors.

Positives

• The acquisition of phantom stock units aligns director interests with shareholder value.
• The deferred compensation plan provides a long-term incentive for directors.

Future Outlook

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

Industry Context

Deferred compensation plans, including phantom stock, are common in corporate governance to align director interests with long-term shareholder value.

Comparison to Industry Standards

• Many companies use phantom stock or similar deferred compensation plans for directors.
• The value of the phantom stock is tied to the company's common stock, which is a standard practice.
• The vesting upon retirement or termination is also a common feature of these plans.

Stakeholder Impact

• The acquisition of phantom stock units aligns director interests with shareholder value.
• The deferred compensation plan provides a long-term incentive for directors.

Key Dates

Keywords

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