Sonoco VP exercises RSUs, withholds shares for tax
Sonoco Products executive Adam Wood reported equity award activity involving restricted stock units and common shares.
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Rhea-AI Filing Summary
Sonoco Products executive Adam Wood reported equity award activity involving restricted stock units and common shares. On February 13, he exercised 635 restricted stock units at a reference price of $51.67 per unit, converting them into 635 shares of common stock at no cash cost to him.
To cover tax obligations tied to this vesting, 299 common shares were disposed of at $51.67 per share through a tax-withholding transaction, rather than an open-market sale. After these transactions, Wood directly held 32,889 shares of Sonoco common stock. The restricted stock units associated with this award vest in three tranches of 33%, 33%, and 34% annually, beginning one year from the grant date.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 635 | $51.67 | $33K |
| Exercise | Common Stock | 635 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 299 | $51.67 | $15K |
Footnotes (1)
- F1. The restricted stock units vest 33%, 33%, 34% per year beginning one year from date of grant.
FAQ
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What did Sonoco (SON) executive Adam Wood report in this Form 4?
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How do Adam Wood’s Sonoco (SON) restricted stock units vest over time?
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