Connor Christopher M 4

What Happened Christopher M. Connor, a director of International Paper Company (IP), was awarded 11,414 restricted stock units (RSUs) on May 12, 2026. The reported acquisition price is $0.00 because these are an equity-based compensation award (derivative units), not an open‑market purchase or sale. The units represent one share of common stock each but are settled in cash under the company’s non-employee director deferred compensation plan.

Key Details

• Transaction date: 2026-05-12; Form 4 filed 2026-05-14 (timely filing).
• Transaction type/code: A (award/grant of RSUs); 11,414 units reported at $0.00.
• Settlement/derivative note: Units are held in the Restricted Stock and Deferred Compensation Plan for Non-Employee Directors and are settled in cash on January 1 following the year the director terminates service (per filing footnote).
• Dividend equivalents: The total includes previously credited dividend equivalents from the Long-Term Incentive Plan; dividends vest with the related award.
• Shares owned after transaction: not specified in the summary data provided.
• Misc.: Share counts are rounded; Power of Attorney on file.

Context RSU awards to non-employee directors are routine compensation and are typically intended as long-term, deferred pay rather than an immediate market signal. Because these units are cash-settled upon termination and include dividend equivalents, they function as deferred cash compensation tied to board service rather than direct share ownership today.