Form 4: Sonoco Products Co. Executive Acquires Phantom Stock Units

Richard G. Kyle, a Sonoco Products Co. executive, acquired phantom stock units equivalent to 237.9 shares of common stock through a quarterly dividend on the company's directors' deferred compensation plan.

Summary

• Richard G. Kyle, an executive at Sonoco Products Co., acquired 237.9 phantom stock units.
• These units are economically equivalent to shares of Sonoco Products Company common stock.
• The acquisition occurred as part of a quarterly dividend on the company's directors' deferred compensation plan.
• The phantom stock units will be settled upon Mr. Kyle's retirement or other termination of service.
• The price per share was $51.46, resulting in a total value of $12,237.76 for the acquired units.

Sentiment

Score: 7

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

Positives

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

Industry Context

Executive compensation through phantom stock units is a common practice in publicly traded companies to align management interests with shareholder value.

Comparison to Industry Standards

• Phantom stock grants are a common form of executive compensation, particularly in large public companies like Sonoco Products Co.
• Many companies use similar deferred compensation plans to incentivize long-term performance and retention of key executives.
• The value of the grant is consistent with typical executive compensation packages.

Stakeholder Impact

• The acquisition of phantom stock units has a minor positive impact on shareholders by aligning executive interests with company performance.

Key Dates

Keywords

phantom stock, executive compensation, deferred compensation, Sonoco Products Co., stock units, dividend