Sonoco (SON) executive converts RSUs, withholds shares for taxes
Rhea-AI Filing Summary
Sonoco Products Company executive Ernest D. Haynes III reported equity award activity involving restricted stock units (RSUs) and common shares. On February 20 and February 21, RSUs converted into 1,134 and 1,848 shares of common stock, respectively, reflecting equity compensation vesting.
To cover tax obligations, 503 and 820 common shares were disposed of at $56.45 per share through tax-withholding transactions, rather than open-market sales. After these moves, he directly held 10,958 shares of common stock and 3,753 RSUs, plus 35.2594 common shares indirectly through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 1,659 shares
Net Buy
7 txns
Insider
Haynes Ernest D III
Role
Pres. Consumer Pkg Americas
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,848 | $56.45 | $104K |
| Exercise | Common Stock | 1,848 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 820 | $56.45 | $46K |
| Exercise | Restricted Stock Units | 1,134 | $56.45 | $64K |
| Exercise | Common Stock | 1,134 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 503 | $56.45 | $28K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 4,921 shares (Direct);
Common Stock — 10,958 shares (Direct);
Common Stock — 35.2594 shares (Indirect, By 401k)
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 transactions did Ernest D. Haynes III report at SON?
Ernest D. Haynes III reported RSU conversions and related tax-withholding share dispositions. RSUs converted into 2,982 common shares over two days, while 1,323 shares were withheld at $56.45 per share to satisfy tax liabilities associated with those equity awards.
What happened to Ernest D. Haynes III’s restricted stock units at SON?
Restricted stock units converted into common shares in multiple transactions, reflecting equity award vesting. RSUs totaling 1,134 and 1,848 units were exercised into common stock, leaving 1,168 RSUs after one date and 3,753 RSUs held directly after the subsequent conversion activity.
What role does Ernest D. Haynes III hold at Sonoco Products Company (SON)?
Ernest D. Haynes III serves as Pres. Consumer Pkg Americas at Sonoco Products Company. The reported equity award transactions and holdings relate to his position as an officer, reflecting standard stock-based compensation and associated tax-withholding mechanisms disclosed in the Form 4.
AI-generated analysis. How Rhea-AI works. Not financial advice.
