MCGARVIE BLYTHE J 4
Research Summary
AI-generated summary
Sonoco (SON) Director Blythe McGarvie Receives Phantom Stock Award
What Happened
- Blythe J. McGarvie, a director of Sonoco Products Company (SON), was granted 657.1 phantom stock units on 2026-04-01. The units are recorded at $55.17 each for a total economic value of $36,252. The Form 4 classifies this as an award/acquisition (derivative).
Key Details
- Transaction date and price: 2026-04-01; 657.1 phantom units @ $55.17 each; total value $36,252.
- Transaction type: A (award/grant) — derivative phantom stock units rather than an open-market purchase.
- Shares owned after transaction: Not specified in the filing.
- Filing date: 2026-04-02 (filed the day after the transaction).
- Footnotes:
- F1: Each phantom stock unit equals the economic equivalent of one Sonoco common share.
- F2: Units were accrued under the directors deferred compensation plan and will be settled in Sonoco common stock six months after the reporting person’s retirement.
Context
- This was a compensation-related award (deferred phantom stock), not a cash purchase or sale. Such grants reflect director pay/deferral mechanics rather than an immediate bullish or bearish trading signal. The units convert to actual shares on the specified settlement timing tied to retirement.