Sonoco (SON) executive adds 65.2 dividend-equivalent RSUs as deferred pay
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cairns Sean reported acquisition or exercise transactions in this Form 4 filing.
Sonoco Products Company executive Sean Cairns received additional stock-based compensation tied to dividends. He was granted 65.2 dividend equivalent units on restricted stock units, each economically equal to one share of Sonoco common stock at a reference value of $53.29. After this grant, he holds 632.6 such derivative units. These dividend equivalents accumulate quarterly and will be settled in connection with his retirement or other termination of service, so this is a non-cash, long-term incentive rather than an open-market share purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Cairns Sean
Role
Pres Consumer Pkg EMEA/APAC
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalents on Restricted Stock Units | 65.2 | $53.29 | $3K |
Holdings After Transaction:
Dividend Equivalents on Restricted Stock Units — 632.6 shares (Direct)
Footnotes (1)
- Each share of Dividend equivalents on Restricted Stock units is the economic equivalent of one share of Sonoco Products Company common stock Acquired quarterly dividend equivalent rights on Restricted Stock which will be settled upon the reporting person's retirement or other termination of service.
FAQ
What insider transaction did Sonoco (SON) executive Sean Cairns report?
Sean Cairns reported an acquisition of 65.2 dividend equivalent units on restricted stock. These units mirror the value of Sonoco common stock and are linked to quarterly dividends, expanding his stock-based compensation position without an open-market trade.
How many dividend equivalent units does Sean Cairns hold after this Sonoco (SON) transaction?
Following the transaction, Sean Cairns holds 632.6 dividend equivalent units on restricted stock. Each unit is economically equivalent to one share of Sonoco common stock, giving him a growing, deferred equity-linked compensation balance over time.
Does the Sean Cairns Form 4 for Sonoco (SON) show a stock sale or open-market trade?
The filing shows no open-market sale or purchase. Instead, Cairns received 65.2 dividend equivalent rights on restricted stock as a compensation-related award, increasing his derivative holdings rather than changing the public trading float.
When will Sean Cairns’ Sonoco (SON) dividend equivalent units be settled?
The dividend equivalent rights on restricted stock will be settled upon Sean Cairns’ retirement or other termination of service. Until that event, they function as deferred equity-linked compensation that accumulates value alongside Sonoco’s common stock performance and dividends.
What does transaction code "A" mean in Sean Cairns’ Sonoco (SON) filing?
Transaction code “A” represents a grant, award, or other acquisition. For Sean Cairns, it reflects a compensation-related grant of 65.2 dividend equivalent units on restricted stock, rather than a voluntary open-market share purchase.