Florence John M 4

What Happened

• John M. Florence, General Counsel, Secretary and Vice President of Sonoco Products Co. (SON), had 74 restricted stock units (RSUs convert/derivative) vest/exercised on 2026-02-13. The RSUs converted into 74 shares at no cash exercise price. All 74 shares were withheld/disposed to cover tax withholding at $51.67 per share, generating proceeds of about $3,824.
• Transaction codes: M = exercise/conversion of a derivative (RSU conversion), F = shares withheld to pay tax liability. This was a routine tax-withholding event tied to vesting, not an open-market sale.

Key Details

• Transaction date: 2026-02-13; Filing date: 2026-02-17 (filed timely).
• Shares acquired on conversion: 74 shares @ $0.00 (total $0); Shares withheld/disposed for taxes: 74 shares @ $51.67 = $3,824.
• Net effect: the filing shows 74 shares were acquired then 74 shares withheld to cover taxes, resulting in no additional shares retained from this vesting event.
• Footnote: RSUs vest 33% / 33% / 34% annually beginning one year from grant; vested shares are paid six months following retirement or termination (per filing footnote).
• Shares owned after the transaction are not specified in the provided filing summary.

Context

• This was a cashless-like tax withholding tied to RSU vesting (common practice). Withheld shares to satisfy taxes are routine and do not necessarily indicate a change in the insider’s view of the company.
• For retail investors, purchases or retained shares are generally more informative about insider sentiment than tax-withholding dispositions like this one.