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

Thomas E. Whiddon, an executive at Sonoco Products Co., acquired 600.9 phantom stock units through the company's deferred compensation plan.

Summary

• Thomas E. Whiddon acquired 600.9 phantom stock units of Sonoco Products Co. on December 10, 2024.
• The phantom stock units were acquired through the company's directors' deferred compensation plan.
• Each phantom stock unit is economically equivalent to one share of Sonoco Products Company common stock.
• The units were acquired as a quarterly dividend and will be settled upon Whiddon's retirement or termination of service.
• The price per unit was $51.46, resulting in a total value of $30,921.83 for the acquired units.

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 provides a long-term incentive for the executive.
• The acquisition reflects a continued investment in the company by the executive.

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 are a common practice for executive compensation in publicly traded companies, aligning executive interests with long-term shareholder value.

Comparison to Industry Standards

• Many companies use phantom stock or similar deferred compensation plans to incentivize executives.
• The specific terms of these plans vary, but the general structure of vesting upon retirement or termination is common.
• Companies like International Paper and WestRock also use similar compensation strategies for their executives.

Stakeholder Impact

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

Key Dates

Keywords

phantom stock, deferred compensation, executive compensation, stock units, Sonoco Products Co., Thomas E. Whiddon