Sonoco (SON) VP Adam Wood converts RSUs and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
635 shares exercised/converted
Mixed
3 txns
Insider
Wood Adam
Role
VP Paper Products Europe
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 635 | $51.67 | $33K |
| Exercise | Common Stock | 635 | $0.00 | -- |
| Tax Withholding | Common Stock | 299 | $51.67 | $15K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 33,188 shares (Direct)
Footnotes (1)
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FAQ
What did Sonoco (SON) executive Adam Wood report in this Form 4?
Adam Wood reported exercising 635 restricted stock units into common stock and a related tax-withholding share disposition. These transactions reflect routine equity compensation activity rather than open-market buying or selling of Sonoco Products common shares.
How many Sonoco (SON) restricted stock units did Adam Wood convert?
Adam Wood converted 635 restricted stock units on February 13 into 635 common shares. The transaction was coded as an exercise or conversion of a derivative security, meaning it stemmed from previously granted equity awards, not a market purchase.
How do Adam Wood’s Sonoco (SON) restricted stock units vest over time?
The restricted stock units vest in three annual tranches of 33%, 33%, and 34%, starting one year after the grant date. This stepped vesting schedule is designed to align executive compensation with longer-term company performance and retention.