Sonoco (SON) CEO Coker exercises RSUs, uses shares to cover taxes
Rhea-AI Filing Summary
Sonoco Products Company’s President & CEO R. Howard Coker reported multiple equity award transactions. On February 20 and 21, he exercised restricted stock units, converting 17,127 and 20,947 RSUs into an equal number of common shares. Associated tax obligations were settled by delivering 7,768 and 9,500 shares of common stock at $56.45 per share. After these transactions, he directly held 544,652 shares of common stock and 17,646 restricted stock units, with an additional 17,873.7037 shares held indirectly through his spouse.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 20,806 shares
Net Buy
7 txns
Insider
Coker R. Howard
Role
President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 20,947 | $56.45 | $1.18M |
| Exercise | Common Stock | 20,947 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 9,500 | $56.45 | $536K |
| Exercise | Restricted Stock Units | 17,127 | $56.45 | $967K |
| Exercise | Common Stock | 17,127 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 7,768 | $56.45 | $439K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 60,643 shares (Direct);
Common Stock — 544,652 shares (Direct);
Common Stock — 17,873.7037 shares (Indirect, By Spouse)
Footnotes (2)
- F1. Each restricted stock unit represents a contingent right to receive one share of Sonoco Products Company common stock.
- F2. The restricted stock units vest beginning one year from date of grant in three annual installments of 33%, 33% and 34%.
FAQ
What insider activity did Sonoco Products (SON) report for R. Howard Coker?
R. Howard Coker exercised restricted stock units and delivered shares for taxes. On February 20 and 21, he converted 17,127 and 20,947 RSUs into common stock and used 7,768 and 9,500 shares to cover related tax obligations at $56.45 per share.
What are restricted stock units in the Sonoco Products (SON) CEO’s Form 4?
Each restricted stock unit represents a contingent right to receive one Sonoco common share. The RSUs vest starting one year from the grant date in three annual installments of 33%, 33%, and 34%, aligning a portion of executive compensation with long-term company performance.
What does transaction code F mean in the Sonoco Products (SON) Form 4 filing?
Transaction code F indicates payment of an exercise price or tax liability by delivering securities. In this filing, certain Sonoco common shares were used to satisfy tax obligations tied to the CEO’s restricted stock unit conversions at a reported price of $56.45 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.