Sonoco (NYSE: SON) exec gets 231 dividend equivalent stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Harrell James A. III reported acquisition or exercise transactions in this Form 4 filing.
Sonoco Products Company executive James A. Harrell III received an automatic grant of 231 dividend equivalent units tied to restricted stock. Each unit is economically equivalent to one share of common stock at a reference price of $53.29. Following this award, his directly held restricted and related units total about 8,084.4 units, which will be settled in shares when he retires or his service otherwise ends. This is a routine compensation-related accrual rather than an open-market share purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Harrell James A. III
Role
Pres. Global Ind. Paper Pkg.
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Dividend Equivalents on Restricted Stock Units | 231 | $53.29 | $12K |
Holdings After Transaction:
Dividend Equivalents on Restricted Stock Units — 8,084.4 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 did Sonoco (SON) executive James A. Harrell III receive in this Form 4 filing?
James A. Harrell III received 231 dividend equivalent units linked to restricted stock. These units mirror Sonoco common stock value and represent routine compensation accrual rather than an open-market share purchase or sale.
How are the 231 dividend equivalent units for Sonoco (SON) structured?
Each dividend equivalent unit is economically equivalent to one Sonoco common share. The units reflect quarterly dividend equivalents on existing restricted stock and track the stock’s value without immediate share issuance or cash settlement.
When will the Sonoco (SON) dividend equivalent units be settled for James A. Harrell III?
The dividend equivalent rights on restricted stock will be settled when James A. Harrell III retires or his service otherwise terminates. At that time, the units convert into Sonoco common shares according to the plan’s terms.
How many Sonoco (SON) units does James A. Harrell III hold after this transaction?
After receiving the 231 dividend equivalent units, his directly held restricted and related units total about 8,084.4. This figure reflects his position reported in this filing, including the newly granted dividend equivalents.
What price is associated with the Sonoco (SON) dividend equivalent units granted?
The 231 dividend equivalent units use a reference price of about $53.29 per underlying share. This price helps determine the value of the award but does not represent a market trade or cash transaction.