Form 4: Sonoco Products Co. Director Thomas E. Whiddon Acquires Phantom Stock Units

Director Thomas E. Whiddon acquired 755.1 phantom stock units of Sonoco Products Co. under the company's deferred compensation plan.

Summary

• Thomas E. Whiddon, a director at Sonoco Products Co., acquired 755.1 phantom stock units on January 2, 2025.
• These phantom stock units were accrued under the company's directors deferred compensation plan.
• Each phantom stock unit is equivalent to one share of Sonoco Products Company common stock.
• The units will be settled in Sonoco Products Company common stock six months after Mr. Whiddon's retirement.
• Following this transaction, Mr. Whiddon beneficially owns 60,825.9 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction under a standard compensation plan, indicating a neutral to slightly positive sentiment due to the alignment of director interests with the company's performance.

Positives

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

Future Outlook

The phantom stock units will be settled in Sonoco Products Company common stock six months after the reporting person's retirement.

Industry Context

This filing is a routine disclosure of a director's transaction in company stock, which is common practice for publicly traded companies. It reflects standard compensation practices for board members.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are a common practice for compensating directors in publicly traded companies.
• Many companies in the packaging and consumer goods sector use similar methods to align director interests with shareholder value.
• Companies like International Paper and WestRock also use equity-based compensation for their directors.

Stakeholder Impact

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

Key Dates

Keywords

phantom stock, director compensation, deferred compensation, insider trading, Form 4, Sonoco Products Co., equity securities