Sonoco (NYSE: SON) director awarded 657 Phantom Stock Units in deferred plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
MCGARVIE BLYTHE J reported acquisition or exercise transactions in this Form 4 filing.
Sonoco Products Company director Blythe J. McGarvie received a grant of 657.1 Phantom Stock Units on Sonoco common stock, valued at $55.17 per unit. These units are the economic equivalent of common shares and were accrued under the directors deferred compensation plan.
After this grant, McGarvie holds 33,569 Phantom Stock Units. The units are scheduled to be settled in Sonoco common stock six months after the director’s retirement, aligning this compensation with long-term company performance rather than immediate market trading.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
MCGARVIE BLYTHE J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 657.1 | $55.17 | $36K |
Holdings After Transaction:
Phantom Stock Units — 33,569 shares (Direct)
Footnotes (1)
- Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock. The phantom stock units were accrued under the Sonoco Products Company directors deferred compensation plan and are to be settled in Sonoco Products Company common stock 6 months after the reporting person's retirement.
Key Figures
Phantom Stock Units granted: 657.1 units
Grant reference price: $55.17 per unit
Total Phantom Stock Units after grant: 33,569 units
+1 more
4 metrics
Phantom Stock Units granted
657.1 units
Grant on 2026-04-01 to director Blythe J. McGarvie
Grant reference price
$55.17 per unit
Reported transaction price for Phantom Stock Units
Total Phantom Stock Units after grant
33,569 units
Director’s phantom stock balance following this transaction
Underlying common stock equivalence
1 share per unit
Each Phantom Stock Unit equals one Sonoco common share economically
Key Terms
Phantom Stock Units, directors deferred compensation plan, economic equivalent, settled in ... common stock
4 terms
Phantom Stock Units financial
"security_title: "Phantom Stock Units" and footnote on economic equivalent of common stock"
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
directors deferred compensation plan financial
"phantom stock units were accrued under the Sonoco Products Company directors deferred compensation plan"
A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.
economic equivalent financial
"Each share of phantom stock is the economic equivalent of one share of Sonoco Products Company common stock"
settled in ... common stock financial
"to be settled in Sonoco Products Company common stock 6 months after the reporting person's retirement"
FAQ
What did Sonoco (SON) director Blythe J. McGarvie report in this Form 4?
Blythe J. McGarvie reported receiving 657.1 Phantom Stock Units tied to Sonoco common stock. The units were granted under the directors deferred compensation plan and increase her total phantom stock holdings to 33,569 units, aligning compensation with Sonoco’s long-term share performance.
How many Phantom Stock Units did Sonoco (SON) grant to the director?
The director received 657.1 Phantom Stock Units linked to Sonoco common stock. Each unit is economically equivalent to one common share, providing stock-based compensation without immediate share issuance and contributing to a larger deferred equity position for the director over time.
At what reference price were the Sonoco (SON) Phantom Stock Units recorded?
The 657.1 Phantom Stock Units were recorded at a reference price of $55.17 per unit. This price is used for reporting purposes in the Form 4 and helps quantify the value of the director’s new deferred stock-based compensation award on the transaction date.
What is the total Phantom Stock Units position held after this Sonoco (SON) grant?
Following the grant, the director’s total Phantom Stock Units position is 33,569 units. Each unit represents the economic equivalent of one share of Sonoco common stock, giving the director substantial deferred equity exposure that tracks the company’s share performance over time.
When will the Sonoco (SON) Phantom Stock Units be settled into common stock?
The Phantom Stock Units are scheduled to be settled in Sonoco common stock six months after the director’s retirement. This settlement timing comes from the company’s directors deferred compensation plan, encouraging a long-term view by delaying conversion into actual shares until after board service ends.