John M. Florence - Feb 20, 2024 Form 4 Insider Report for SONOCO PRODUCTS CO (SON)

Signature
By:Elizabeth R Kremer - Power of Attorney for John M. Florence
Stock symbol
SON
Transactions as of
Feb 20, 2024
Transactions value $
$983,822
Form type
4
Date filed
2/22/2024, 07:49 PM
Previous filing
Feb 15, 2024
Next filing
Mar 11, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SON Phantom Stock Units Award $1.02M +18.2K $55.87 18.2K Feb 20, 2024 Common Stock 18.2K $0.00 Direct F1, F2
transaction SON Phantom Stock Units Tax liability -$34.8K -618 -3.39% $56.31 17.6K Feb 20, 2024 Common Stock 618 $0.00 Direct F1, F3
transaction SON Restricted Stock Units Award $0 +7.63K $0.00 7.63K Feb 20, 2024 Common Stock 7.63K $0.00 Direct F4, F5
transaction SON Restricted Stock Units II Award $0 +248 +13.66% $0.00 2.06K Feb 20, 2024 Common Stock 248 $0.00 Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock.
F2 Represents performance shares which have vested but receipt of which has been deferred until six months after termination of service.
F3 Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock. The shares were cashed out to account for withholding taxes.
F4 Each restricted stock unit represents a contingent right to receive one share of Sonoco Products Company common stock.
F5 The restricted stock units vest beginning one year from date of grant in three annual installments of 33%, 33% and 34%.
F6 The restricted stock units vest on 12/17/2033 and defer. Vested shares will be paid to the reporting person six months following retirement or termination of service.
F7 Vested shares will be paid to the reporting person six months following retirement or termination of service.