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

Director Robert R. Hill Jr. acquired 221.8 phantom stock units of Sonoco Products Co. through a quarterly dividend on the company's directors' deferred compensation plan.

Summary

• Robert R. Hill Jr., a director of Sonoco Products Co., acquired 221.8 phantom stock units on December 10, 2024.
• These units were acquired 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 price was $51.46 per unit, totaling $11,414.73.
• The phantom stock units will be settled upon Mr. Hill'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 interests. There is no indication of any negative or unexpected events.

Positives

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

Future Outlook

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

Industry Context

The use of phantom stock units as part of director compensation is a common practice in many publicly traded companies to align director interests with shareholder value.

Comparison to Industry Standards

• Many companies use deferred compensation plans, including phantom stock, as part of their director compensation packages.
• The specific terms and conditions of these plans can vary widely between companies.
• Companies like International Paper and WestRock also use similar compensation methods for their directors.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of shareholders.
• The deferred compensation plan is a standard practice and does not have a significant impact on other stakeholders.

Key Dates

Keywords

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