Sonoco (SON) director awarded 890.5 phantom stock units under deferred plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Clark Scott A reported acquisition or exercise transactions in this Form 4 filing.
Sonoco Products director Scott A. Clark received a grant of 890.5 Phantom Stock Units on Sonoco common stock. The award, valued at $56.15 per unit, increases his holdings to 2,957.4 phantom units. Each unit is economically equivalent to one share of common stock and will be settled in common stock six months after his retirement under the company’s directors deferred compensation plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Clark Scott A
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 890.5 | $56.15 | $50K |
Holdings After Transaction:
Phantom Stock Units — 2,957.4 shares (Direct, null)
Footnotes (1)
- Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock. The phantom stock units were accrued under the Sonoco Products Company directors deferred compensation plan and are to be settled in Sonoco Products Company common stock 6 months after the reporting person's retirement.
Key Figures
Phantom units granted: 890.5 units
Grant value per unit: $56.15 per unit
Total phantom units after grant: 2,957.4 units
+2 more
5 metrics
Phantom units granted
890.5 units
Grant of Phantom Stock Units on Sonoco common stock
Grant value per unit
$56.15 per unit
Value used for the Phantom Stock Unit award
Total phantom units after grant
2,957.4 units
Scott A. Clark’s Phantom Stock Unit balance following transaction
Underlying security
890.5 shares
Underlying Sonoco Products common stock equivalent for the units
Conversion price
$0.00
Conversion or exercise price for the Phantom Stock Units
Key Terms
Phantom Stock Units, directors deferred compensation plan, economic equivalent, settled in ... common stock
4 terms
Phantom Stock Units financial
"Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
directors deferred compensation plan financial
"The phantom stock units were accrued under the Sonoco Products Company directors deferred compensation plan"
A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock."
settled in ... common stock financial
"are to be settled in Sonoco Products Company common stock 6 months after the reporting person's retirement."
FAQ
What insider transaction did Sonoco Products (SON) report for Scott A. Clark?
Sonoco Products reported that director Scott A. Clark received a grant of 890.5 Phantom Stock Units. These units are a form of deferred equity compensation tied to Sonoco common stock rather than an open-market share purchase or sale.
How many Sonoco (SON) Phantom Stock Units does Scott A. Clark hold after this grant?
After the grant, Scott A. Clark holds a total of 2,957.4 Phantom Stock Units. This figure reflects his updated position in the company’s deferred equity program linked to Sonoco Products common stock value.
What is the economic value basis of the Phantom Stock Units granted by Sonoco (SON)?
Each Phantom Stock Unit granted to Scott A. Clark is valued at $56.15 per unit. The units are the economic equivalent of one share of Sonoco Products common stock, aligning director compensation with shareholder value performance.
How and when will Sonoco (SON) Phantom Stock Units be settled for Scott A. Clark?
The Phantom Stock Units were accrued under Sonoco’s directors deferred compensation plan and will be settled in common stock. Settlement occurs six months after Scott A. Clark’s retirement, providing long-term, share-linked compensation exposure.
Are Sonoco (SON) Phantom Stock Units the same as owning common stock now?
Phantom Stock Units are not current common shares but are economically equivalent to one share each. They represent a deferred right to receive Sonoco common stock in the future, rather than immediate stock ownership or voting rights.