Every Form 4 that Sonoco Products Company (SON) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A Form 4 covers the transactions officers, directors and large holders report, so if you follow SON and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SON filings page.
Sonoco Products Chief Human Resources Officer Andrea B. White reported RSU conversions into common stock and related tax-share withholdings. On February 21, 2026, 2,310 restricted stock units were converted into common stock, and 702 common shares were disposed of to satisfy tax obligations at $56.45 per share, leaving 6,337 directly held common shares.
On February 20, 2026, 787 restricted stock units were converted into common stock, with 239 common shares withheld for taxes at $56.45 per share, resulting in 4,729 directly held common shares after that transaction. White also reports indirect ownership of 620 common shares through a 401(k) plan.
Sonoco Products Company executive Ernest D. Haynes III reported equity award activity involving restricted stock units (RSUs) and common shares. On February 20 and February 21, RSUs converted into 1,134 and 1,848 shares of common stock, respectively, reflecting equity compensation vesting.
To cover tax obligations, 503 and 820 common shares were disposed of at $56.45 per share through tax-withholding transactions, rather than open-market sales. After these moves, he directly held 10,958 shares of common stock and 3,753 RSUs, plus 35.2594 common shares indirectly through a 401(k) plan.
Sonoco Products Company executive James A. Harrell III, President of Global Industrial Paper Packaging, reported multiple equity award transactions. On February 20 and 21, 2026, he exercised restricted stock units into 2,464 and 1,952 shares of common stock in separate transactions, with some shares converted at a stated value of $56.45 per unit.
Following these conversions, a total of 748 and 593 common shares were disposed of to cover tax obligations through share withholding, not open‑market sales. After these transactions, he held 59,956 common shares directly in one entry, and also reported 3,316.3074 shares held indirectly through a 401(k) plan.
Sonoco Products Company's Chief Accounting Officer Aditya Gandhi reported multiple equity award transactions. On February 20 and 21, 2026, he exercised restricted stock units into a total of 1,435 shares of common stock through derivative conversions. To cover tax obligations, 512 common shares were withheld and disposed of in tax-withholding transactions at $56.45 per share. After these moves, he directly owned 4,254 shares of common stock and 1,956 restricted stock units, each RSU representing the right to receive one share that vests over three years in 33%, 33% and 34% annual installments.
Sonoco Products Company executive Rodger D. Fuller reported equity award activity involving restricted stock units and common shares. On February 20, 2026, he exercised 5,037 restricted stock units into 5,037 common shares, with 1,529 common shares withheld to cover tax obligations. On February 21, 2026, he exercised an additional 6,161 restricted stock units into 6,161 common shares, with 2,688 common shares withheld for taxes. Following these transactions, his directly held common stock position was reported at 185,351 shares, and his restricted stock unit balance was 12,509 units, each representing a contingent right to receive one share of common stock that vests over a three-year schedule.
Sonoco Products Company executive John M. Florence, General Counsel, Secretary and VP, reported multiple equity transactions in company stock. On February 20–21, 2026, he exercised restricted stock units into a total of 3,158 shares of common stock through derivative conversions.
The filings show corresponding tax-withholding dispositions of 1,013 shares of common stock at $56.45 per share to cover liabilities associated with these conversions. After these transactions, he directly held 9,197 shares of Sonoco common stock and 7,477 restricted stock units, plus an additional 22.9274 shares held indirectly by his spouse.
Sonoco Products Company’s President & CEO R. Howard Coker reported multiple equity award transactions. On February 20 and 21, he exercised restricted stock units, converting 17,127 and 20,947 RSUs into an equal number of common shares. Associated tax obligations were settled by delivering 7,768 and 9,500 shares of common stock at $56.45 per share. After these transactions, he directly held 544,652 shares of common stock and 17,646 restricted stock units, with an additional 17,873.7037 shares held indirectly through his spouse.
Sonoco Products Company’s interim CFO Jerry A. Cheatham exercised restricted stock units into common stock on February 20–21, 2026. He acquired 2,240 common shares through RSU conversions, with 800 shares withheld at $56.45 per share to cover taxes. After these transactions, he directly held 5,385 common shares and indirectly held 2,259.39 shares through a 401(k) plan.
Sonoco Products executive Sean Cairns reported several equity award transactions involving restricted stock units and common stock. On February 21, he exercised 1,848 restricted stock units at a reference price of $56.45 per share, converting them into an equal number of common shares and increasing his directly held common stock to 20,635 shares before tax withholding.
That same day, 426 common shares were withheld at $56.45 per share to cover tax obligations, leaving 20,209 common shares directly owned. On February 20, he similarly exercised 1,260 restricted stock units into common stock, with ownership rising to 19,077 shares before 290 shares were withheld for taxes, resulting in 18,787 directly held shares.
Sonoco Products Company executive Adam Wood reported equity awards and related tax withholding transactions. On February 19, 2026, he received grants of 1,924 Restricted Stock Units and 359 Restricted Stock Units II, each representing a right to one common share, plus 1,216 shares of common stock at $43.64 per share.
The filing also shows a disposition of 572 common shares at $43.64 per share to cover tax obligations. Certain restricted stock units vest beginning one year from grant in three annual installments of 33%, 33%, and 34%, and some vested shares are scheduled to be paid six months after retirement or termination of service.
Sonoco Products Company’s Chief Human Resources Officer Andrea B. White reported equity compensation and related share movements. She acquired 7,694 restricted stock units and 324 additional restricted stock units, each representing the right to receive one share of common stock. She also acquired 478 shares of common stock at $43.64 per share and disposed of 146 shares of common stock to cover tax withholding obligations.
The restricted stock units vest beginning one year from the grant date in three annual installments of 33%, 33%, and 34%. Vested units immediately defer, with shares scheduled to be paid six months after retirement or termination of service. After these transactions, she directly held 4,181 shares of common stock and indirectly held 620 shares through a 401(k) plan.
Joachimczyk Paul reported acquisition or exercise transactions in this Form 4 filing.
Sonoco Products Company CFO Paul Joachimczyk received equity compensation in the form of restricted stock units. On February 19, 2026 he was granted 15,388 Restricted Stock Units and 308 Restricted Stock Units II, each representing one share of common stock. These units vest over three years beginning one year after grant and are deferred, with vested shares delivered six months after his retirement or termination of service.
Sonoco Products Company executive James A. Harrell III, President of Global Industrial Paper Packaging, reported equity compensation changes. He received 9,233 Restricted Stock Units and 494 additional Restricted Stock Units II on February 19, 2026, all at a stated price of $0.0000 per unit, reflecting awards rather than open-market purchases.
On the same date, he also acquired 3,556 shares of common stock as a grant at $43.6400 per share. To cover tax obligations, 18 Restricted Stock Units II and 1,080 shares of common stock were disposed of through tax-withholding transactions. Following these moves, he directly held 56,881 shares of common stock and 3,600 Restricted Stock Units II, plus an indirect 3,316.3074 common shares through a 401(k) plan.
Sonoco Products Company President & CEO Howard Coker reported multiple equity compensation grants and related tax-withholding transactions dated February 19, 2026. He was granted 52,318 Restricted Stock Units and 1,231 Restricted Stock Units II, each unit representing a contingent right to receive one share of common stock, plus 31,196 shares of common stock.
The Restricted Stock Units begin vesting one year from grant in three annual installments of 33%, 33% and 34%. Certain units vest and are deferred, with vested shares to be delivered six months after retirement or termination of service. To cover tax liabilities, 42 Restricted Stock Units II were disposed of at $56.07 per unit and 14,148 shares of common stock were disposed of at $43.64 per share through share withholding. The filing also reports 17,873.7037 shares of common stock held indirectly by his spouse.
Sonoco Products Company CAO Aditya Gandhi reported equity awards and related share withholding. On February 19, 2026, Gandhi received 3,367 restricted stock units valued at 56.0700 per unit and a grant of 478 shares of common stock at 43.6400 per share. To cover tax obligations, 171 common shares were disposed of through a tax-withholding transaction at 43.6400 per share. The restricted stock units vest over three years, beginning one year from the grant date, in annual installments of 33%, 33%, and 34%.
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.
Sonoco Products Company’s interim CFO Jerry A. Cheatham received equity awards on common stock and restricted stock units. He was granted 3,847 restricted stock units, each representing a right to one Sonoco share, plus 230 shares of common stock. The restricted stock units vest in three annual installments of 33%, 33% and 34% beginning one year from the grant date. To cover tax obligations, 83 shares of common stock were withheld and disposed of on the same date.
Sonoco Products Company Chief Operating Officer Rodger D. Fuller reported equity compensation changes. He received grants of 657 Restricted Stock Units and 9,175 shares of common stock at $43.64 per share as awards. Related dispositions of 24 RSUs and 3,046 common shares were made to cover tax withholding, not as open-market sales. Following these transactions, he directly holds 178,370 shares of common stock and 3,793 RSUs, which represent rights to receive the same number of shares in the future.
Sonoco Products executive Sean Cairns reported several equity compensation transactions. On February 19, 2026, he received 9,233 restricted stock units and 432 additional deferred restricted stock units. These RSUs each represent the right to receive one share of Sonoco common stock and vest over time.
He also acquired 1,835 shares of common stock as a grant and had 423 shares withheld to cover tax obligations, leaving him with 17,817 common shares directly owned. Some RSUs vest in three annual installments, while others vest on May 1, 2026 and are paid after retirement or service termination.
Sonoco Products executive John M. Florence reported equity-related transactions involving phantom stock units and restricted stock units on February 19, 2026. He received 4,588 phantom stock units and 9,233 restricted stock units, plus 480 additional restricted stock units II.
The filing also shows a tax-withholding disposition of 156 phantom stock units used to cover tax obligations. Phantom and restricted units each represent the economic equivalent or contingent right to one share of Sonoco common stock, with vesting and payout deferred over future years.
Sonoco Products executive James A. Harrell III, President of Global Industrial Paper Packaging, exercised stock appreciation rights into 112 shares of common stock at $40.41 per share. On the same day, he sold 20 shares at $57.835 per share in an open-market transaction and disposed of 92 shares at $57.99 per share to cover tax obligations related to the exercise. Following these transactions, he directly owned 54,405 shares of Sonoco Products common stock and indirectly held 3,316.3074 shares through a 401(k) plan.
Sonoco Products Co executive John M. Florence reported derivative and stock transactions related to equity awards. On February 13, 2026, he exercised 74 Restricted Stock Units at $51.67 per unit, converting them into 74 shares of common stock held directly.
On the same date, 74 common shares were disposed of in a tax-withholding transaction at $51.67 per share to cover obligations arising from the award, leaving 7,052 common shares held directly. He also reports 22.9274 common shares held indirectly by his spouse. A footnote states the restricted stock units vest 33%, 33%, 34% annually beginning one year from grant, with vested shares paid six months after retirement or termination.
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.
Sonoco Products Company executive Andrea B. White reported equity award activity involving restricted stock units and common stock. She converted 374 restricted stock units into 374 shares of common stock and then delivered 134 shares at $51.67 per share to cover tax obligations, leaving 3,849 shares held directly. She also reports 620 shares of common stock held indirectly through a 401(k) plan. Each restricted stock unit represents a right to receive one share of common stock, vesting over three years in 33%, 33%, and 34% annual installments beginning one year from grant.
Sonoco Products executive Ernest D. Haynes III reported equity transactions involving restricted stock units and common stock. On February 13, 2026, he exercised 958 restricted stock units at an indicated value of $51.67 per unit, receiving 958 shares of common stock at $0 per share as part of the conversion. To cover the exercise price or related tax obligations, 476 common shares were disposed of at $51.67 per share in a tax-withholding transaction, rather than an open-market sale. After these transactions, he held 8,278 shares of common stock directly and 35.2594 shares indirectly through a 401(k) account. The filing notes that restricted stock units vest over three years in installments of 33%, 33% and 34% beginning one year after grant.
Sonoco Products executive James A. Harrell III exercised restricted stock units and had shares withheld to cover taxes. He converted 1,855 restricted stock units into 1,855 shares of common stock, then 662 shares were disposed of at $51.67 per share to satisfy tax obligations. After these transactions, he held 54,405 shares of common stock directly and an additional 3,316.3074 shares indirectly through a 401(k) plan. The restricted stock units vest 33%, 33%, and 34% per year beginning one year from the grant date.
Sonoco Products Chief Accounting Officer Aditya Gandhi exercised 374 restricted stock units into 374 shares of common stock at $51.67 per share. To cover tax obligations, 134 shares of common stock were withheld, leaving Gandhi with direct ownership of 3,024 Sonoco common shares after these transactions.
Sonoco Products Chief Operating Officer Rodger D. Fuller reported equity award activity involving restricted stock units and common shares. On February 13, 2026, he exercised 4,787 restricted stock units, converting them into 4,787 shares of common stock at a stated value of $51.67 per share.
In a related transaction the same day, 1,572 common shares were disposed of at $51.67 per share to satisfy tax withholding obligations, described as payment of tax liability by delivering securities. After these transactions, Fuller directly owned 172,241 shares of Sonoco common stock. The filing notes the restricted stock units vest 33%, 33%, and 34% annually beginning one year from the grant date.
Sonoco Products President & CEO Coker R. Howard reported equity transactions involving restricted stock units and common stock. He exercised 16,274 restricted stock units, converting them into 16,274 shares of common stock at a stated price of $51.67 per unit. To cover tax obligations, 5,021 common shares were disposed of through a tax-withholding transaction at $51.67 per share, rather than an open-market sale. After these transactions, Howard directly owned 506,798 common shares. The filing also notes 17,873.7037 common shares held indirectly through his spouse. A footnote explains that these restricted stock units vest 33%, 33%, and 34% annually beginning one year from the grant date.
Sonoco Products interim CFO Jerry A. Cheatham reported equity compensation activity involving restricted stock units and common shares. On February 13, 2026, 180 restricted stock units were exercised or converted at an indicated price of $51.67 per share, resulting in the acquisition of 180 shares of common stock.
In connection with this vesting, 65 common shares were disposed of at $51.67 per share to cover tax obligations, a tax-withholding disposition rather than an open-market sale. Following these transactions, Cheatham directly held 3,798 common shares and also had indirect ownership through a 401(k) plan, which held 2,259.39 shares after the reported activity.
Sonoco Products executive Sean Cairns exercised 958 restricted stock units on February 13, 2026, converting them into 958 shares of common stock at $51.67 per share. To cover tax obligations, 221 shares were disposed of at $51.67, leaving him with 16,405 directly held common shares. The restricted stock units vest 33%, 33%, and 34% annually beginning one year from the grant date.
Sonoco Products Company director Thomas E. Whiddon reported a compensation-related equity transaction. On 01/02/2026, he acquired 817 phantom stock units tied to Sonoco common stock at a reference price of $44.37 per unit. Each phantom stock unit is the economic equivalent of one share of Sonoco common stock.
The units were accrued under the company’s directors deferred compensation plan and are scheduled to be settled in Sonoco common stock 6 months after the reporting person’s retirement. Following this transaction, Whiddon beneficially owned 66,979.7 derivative securities directly, reflecting his accumulated phantom stock position.
Sonoco Products Company director Blythe J. McGarvie reported a change in deferred equity holdings. On 01/02/2026, McGarvie acquired 817 phantom stock units at $44.37 per unit under Sonoco’s directors deferred compensation plan. Following this transaction, McGarvie beneficially owns 32,587.8 phantom stock units, held directly.
Each phantom stock unit is the economic equivalent of one share of Sonoco Products Company common stock. Under the plan, these phantom stock units are scheduled to be settled in Sonoco common stock six months after the director’s retirement, aligning director compensation with long-term shareholder interests.
Sonoco Products Company director Richard G. Kyle reported a deferred equity transaction. On January 2, 2026, he acquired 817 phantom stock units, each economically equivalent to one share of Sonoco common stock, at a reference price of $44.37 per unit. These units were credited under Sonoco’s directors deferred compensation plan. Following this award, he beneficially owned 28,960.9 derivative securities representing Sonoco common stock on a direct basis. The phantom stock units are to be settled in Sonoco common stock six months after his retirement.
Sonoco Products Company director Eleni Istavridis reported acquiring additional deferred equity linked to the company’s stock. On 01/02/2026, she received 817 phantom stock units at a reference price of $44.37 per unit. After this transaction, she holds a total of 14,675.4 phantom stock units.
Each phantom stock unit is the economic equivalent of one share of Sonoco Products Company common stock. These units were credited under the company’s directors deferred compensation plan and are designed to be settled in Sonoco common stock six months after her retirement, aligning director compensation more closely with long-term shareholder value.
Sonoco Products Company reported that one of its directors acquired 1,605.8 phantom stock units on 01/02/2026 under the company’s directors deferred compensation plan. Each phantom stock unit is the economic equivalent of one share of Sonoco common stock and is to be settled in common shares six months after the director’s retirement. Following this transaction, the director beneficially owns a total of 28,071.6 phantom stock units. The filing lists a price of $44.37 for the phantom stock units in this transaction.
Sonoco Products Company director reports new phantom stock units. On 01/02/2026, a director of Sonoco Products Company acquired 2,282 phantom stock units, each economically equivalent to one share of Sonoco common stock. The units were credited at a derivative security price of $44.37 per unit under the company’s directors deferred compensation plan.
After this transaction, the director beneficially owned 81,160.5 derivative securities, held in direct form. According to the plan, these phantom stock units are to be settled in Sonoco common stock six months after the reporting person’s retirement, aligning the director’s economic interest with long-term shareholder value.
Sonoco Products Company director reports phantom stock award tied to common shares. On 01/02/2026, a company director acquired 817 phantom stock units at a reference price of $44.37 per unit, each unit being the economic equivalent of one share of Sonoco Products Company common stock. After this transaction, the director beneficially owns 27,755.3 derivative securities in the form of phantom stock units, held directly. The units were accrued under the company’s directors deferred compensation plan and will be settled in Sonoco common stock six months after the director’s retirement.
Sonoco Products Company director reports new phantom stock award. On 01/02/2026, a director of Sonoco Products Company (ticker SON) acquired 817 phantom stock units at a reference price of $44.37 per unit under the company’s directors deferred compensation plan. After this transaction, the director beneficially owned 20,523.1 phantom stock units, held directly.
Each phantom stock unit is the economic equivalent of one share of Sonoco common stock. According to the plan, these phantom stock units are scheduled to be settled in Sonoco common stock six months after the reporting person’s retirement, providing deferred, stock-based compensation linked to the company’s share performance.
Sonoco Products Company director reports phantom stock award
A director of Sonoco Products Company reported acquiring 817 phantom stock units on 01/02/2026 under the company’s directors deferred compensation plan. Each phantom stock unit is the economic equivalent of one share of Sonoco Products Company common stock and is to be settled in common stock 6 months after the reporting person’s retirement. Following this transaction, the reporting person beneficially owns 66,979.6 derivative securities directly.
Sonoco Products Company director Scott Clark reported acquiring phantom stock units linked to the company’s common stock. On 01/02/2026, he acquired 1,126.9 phantom stock units, each economically equivalent to one share of Sonoco Products Company common stock at a price of $44.37. Following this transaction, he beneficially owned 1,126.9 derivative securities in direct ownership form. The units were accrued under the company’s directors deferred compensation plan and will be settled in Sonoco Products Company common stock six months after his retirement.
Sonoco Products Company director reports phantom stock grant
A director of Sonoco Products Company filed a Form 4 reporting an award of phantom stock units. On 01/02/2026, the reporting person acquired 817 phantom stock units at $44.37 per unit, each unit being the economic equivalent of one share of Sonoco common stock. Following this transaction, the director beneficially owned 9,609.3 phantom stock units, held directly.
The phantom stock units were accrued under the Sonoco Products Company directors deferred compensation plan and are to be settled in Sonoco common stock six months after the reporting person’s retirement.
Sonoco Products Company officer Adam Wood reported a routine equity award related to his existing restricted stock units. On 12/12/2025, he acquired 184.3 dividend equivalents on restricted stock units, each economically equivalent to one share of Sonoco common stock at a reference price of $41.93 per share. Following this transaction, he beneficially owns 3,948.3 such derivative securities directly. These dividend equivalent rights are scheduled to be settled in Sonoco common stock upon his retirement or other termination of service.
Sonoco Products Company officer Andrea White, Chief Human Resources Officer, reported a routine equity compensation-related transaction in company securities. On 12/12/2025, she acquired 27.1 dividend equivalent units on restricted stock units, each economically equivalent to one share of Sonoco Products Company common stock. These dividend equivalent rights relate to quarterly dividends on restricted stock and will be settled when she retires or otherwise terminates service. After this transaction, she beneficially owns 75.5 derivative securities of this type, held directly.
Sonoco Products Company director reports routine phantom stock grant. Director Thomas E. Whiddon filed a Form 4 showing an acquisition of 825.9 phantom stock units on 12/12/2025. Each phantom stock unit is the economic equivalent of one share of Sonoco Products Company common stock and is credited under the company’s directors’ deferred compensation plan.
The units were acquired in connection with a quarterly dividend under this plan and will be settled in Sonoco common stock when the director retires or otherwise leaves board service. Following this transaction, Whiddon beneficially owns 66,162.7 phantom stock units on a direct basis, further aligning his deferred compensation with Sonoco’s share performance.
Sonoco Products Company director reports quarterly phantom stock grant
Blythe J. McGarvie, a director of Sonoco Products Company, reported an acquisition of 396.6 phantom stock units on 12/10/2025 under the company’s directors’ deferred compensation plan. Each phantom stock unit is the economic equivalent of one share of Sonoco common stock and was valued at $41.93 per unit for this transaction. Following this grant, McGarvie beneficially owns a total of 31,770.8 phantom stock units, held directly.
The filing notes that these phantom stock units were acquired in connection with a quarterly dividend credited under the deferred compensation plan and will be settled in Sonoco common stock when the director retires or otherwise leaves board service. This reflects routine, dividend-based growth in the director’s deferred equity-based compensation rather than an open-market stock purchase.
Sonoco Products Company director reports additional phantom stock units from dividend reinvestment. A Sonoco Products Company (ticker SON) director reported acquiring 351.4 phantom stock units on 12/10/2025 at a reference price of $41.93 per unit. Each phantom stock unit is the economic equivalent of one share of Sonoco common stock.
The filing shows the director now beneficially owns 28,143.9 phantom stock units in total. These units were credited under Sonoco’s directors' deferred compensation plan as part of the quarterly dividend and will be settled in common stock when the director retires or otherwise leaves board service. The holdings are reported as directly owned.
Sonoco Products Company’s chief financial officer filed a Form 4 reporting a routine compensation-related transaction. On 12/12/2025, the officer acquired 29.4 dividend equivalent rights on restricted stock units, each economically equivalent to one share of Sonoco common stock. These rights were credited at a reference price of $41.93 per underlying share and have a conversion or exercise price of $0.0000. After this transaction, the officer beneficially owned 55.8 derivative securities directly. The dividend equivalents will be settled in connection with the officer’s retirement or other termination of service.
Sonoco Products Company director Eleni Istavridis reported a routine change in her deferred equity holdings. On 12/10/2025, she acquired 172.9 phantom stock units, each economically equivalent to one share of Sonoco common stock, through a quarterly dividend credited to the directors' deferred compensation plan at a reference price of $41.93 per share. Following this transaction, she beneficially owns 13,858.4 phantom stock units, which are scheduled to be settled in Sonoco common stock upon her retirement or other termination of service.
Sonoco Products Company reported an insider equity update as a director filed a Form 4 for phantom stock units. On 12/10/2025, the reporting person acquired 330.3 phantom stock units, each economically equivalent to one share of Sonoco Products Company common stock. These units were credited as a quarterly dividend under the company’s directors' deferred compensation plan and will be settled when the director retires or otherwise leaves the board. Following this transaction, the director beneficially owns 26,465.8 phantom stock units, held directly.