Sonoco (SON) executive awarded stock units as shares withheld for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sonoco Products executive Ernest D. Haynes III reported equity awards and related tax withholding. He received 9,233 restricted stock units and 438 additional restricted stock units, plus 1,835 shares of common stock at $43.64 per share. To cover taxes, 814 common shares were disposed of through a tax-withholding transaction, leaving 9,299 common shares held directly and 35.2594 shares held indirectly via a 401(k). The restricted stock units vest over time and, in some cases, are paid six months after retirement or termination.
Positive
- None.
Negative
- None.
Insider Trade Summary
5 transactions reported
Mixed
5 txns
Insider
Haynes Ernest D III
Role
Pres. Consumer Pkg Americas
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 9,233 | $0.00 | -- |
| Grant/Award | Restricted Stock Units II | 438 | $0.00 | -- |
| Grant/Award | Common Stock | 1,835 | $43.64 | $80K |
| Tax Withholding | Common Stock | 814 | $43.64 | $36K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 9,233 shares (Direct);
Restricted Stock Units II — 1,579 shares (Direct);
Common Stock — 10,113 shares (Direct);
Common Stock — 35.259 shares (Indirect, By 401k)
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of Sonoco Products Company common stock. The restricted stock units vest beginning one year from date of grant in three annual installments of 33%, 33% and 34%. The restricted stock units vest on 12/20/2027 and defer. Vested shares will be paid to the reporting person six months following retirement or termination of service. Vested shares will be paid to the reporting person six months following retirement or termination of service.
FAQ
What did SON executive Ernest D. Haynes III report on this Form 4?
Ernest D. Haynes III reported grants of restricted stock units and common shares, plus a tax-withholding share disposition. The transactions involve Sonoco Products common stock and equity awards that vest over time and, in some cases, settle after retirement or termination.
How many restricted stock units did SON grant to Ernest D. Haynes III?
He received 9,233 restricted stock units and 438 additional restricted stock units. Each unit represents a contingent right to one share of Sonoco Products common stock, with vesting schedules that begin one year after grant or on a specified future date.
How do the restricted stock units for SON vest and pay out?
One grant vests in three annual installments of 33%, 33% and 34% starting one year from grant. Another vests on 12/20/2027 and is deferred, with vested shares paid six months after retirement or termination of service.
Was the Form 4 transaction for SON a market buy or sell by the executive?
The filing shows equity awards and a tax-withholding disposition, not an open-market buy or sell. Shares were granted as compensation, and some were withheld to cover tax liabilities associated with those awards.