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

A Sonoco Products Co. executive acquired phantom stock units as part of a deferred compensation plan.

Summary

• Steven L. Boyd, an executive at Sonoco Products Co., acquired phantom stock units on December 10, 2024.
• The acquisition was part of the company's directors' deferred compensation plan.
• The phantom stock units are economically equivalent to shares of Sonoco Products Company common stock.
• The units were acquired at a price of $53.10 per unit.
• The total value of the acquired units is $5301.50.
• 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 executive compensation transaction, which is generally positive for aligning interests but not a major market-moving event.

Positives

• The acquisition of phantom stock units aligns executive compensation with company performance.
• The deferred compensation plan encourages long-term commitment from executives.

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 using phantom stock are a common practice in corporate America to align executive interests with shareholder value and encourage long-term commitment.

Comparison to Industry Standards

• Many companies, such as International Paper and WestRock, use similar deferred compensation plans for their executives.
• The use of phantom stock is a standard method for providing equity-based compensation without issuing actual shares immediately.
• The value of the phantom stock is tied to the company's stock price, which is a common practice in executive compensation.

Stakeholder Impact

• The acquisition of phantom stock units aligns executive interests with shareholder value.
• The deferred compensation plan encourages long-term commitment from executives, which can benefit the company and its stakeholders.

Key Dates

Keywords

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