Cairns Sean 4

What Happened

• Sean Cairns, President of Consumer Packaging EMEA/APAC for Sonoco Products Co. (SON), had a total of 892 shares disposed on May 1, 2026 as tax-withholding related to derivative awards. The withholding consisted of 102 shares at $50.06 ($5,106) and 790 shares at $50.06 ($39,547), totaling about $44,653. These were not open-market sales but shares surrendered to cover tax obligations (transaction code F).

Key Details

• Transaction date: 2026-05-01; reported price per share: $50.06.
• Shares withheld/disposed: 102 shares ($5,106) + 790 shares ($39,547) = 892 shares (~$44.7K).
• Transaction type: F (payment of exercise price or tax liability / tax withholding on derivative awards).
• Derivative/award notes: Filing footnotes indicate these relate to restricted stock units (RSUs) and dividend equivalents; RSUs are a contingent right to receive one share and vested shares/dividend equivalents may be paid six months after separation (see footnotes F1–F4).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Form 4 was filed on 2026-06-12 for a May 1 transaction (filed late vs. the usual two-business-day reporting requirement).

Context

• This is a routine tax-withholding disposition tied to RSUs/dividend equivalents, not an open-market sale expressing sentiment. For derivative awards like RSUs, companies often withhold or surrender shares to satisfy tax obligations when awards vest; footnotes indicate some payments may be deferred up to six months after separation. The late filing affects disclosure timing but does not change the substance of the withholding.