Sonoco (SON) General Counsel John M. Florence Exercises Options

What Happened

• John M. Florence, General Counsel, Secretary and VP of Sonoco Products Co. (SON), exercised 6,859 stock options on 2026-07-29, acquiring those shares at $54.46 per share (cost/value reported as $373,541).
• The same shares were immediately disposed/sold at about $58.54 per share (total reported proceeds ~$401,526). Of the shares sold, 6,598 were surrendered/withheld to cover tax/exercise obligations (reported value $386,247) and 261 shares were sold in an open-market transaction for $15,284.
• This is effectively a cashless exercise: options were exercised and the resulting shares were used to satisfy exercise/tax obligations, with a small portion sold on the open market.

Key Details

• Transaction date: 2026-07-29; Filing date: 2026-07-31 (filed within the standard 2-business-day window).
• Reported prices and amounts:
  • Exercise (acquisition): 6,859 shares @ $54.46 = $373,541.
  • Immediate sale (total): 6,859 shares @ $58.54 ≈ $401,526.
  • Tax/withholding surrender: 6,598 shares @ $58.54 = $386,247.
  • Open-market sale: 261 shares @ $58.56 = $15,284.
• Shares owned after the transaction: Not disclosed in the provided filing details.
• Footnotes / codes: M = option exercise/conversion; F = payment of exercise price or tax liability (share withholding); S = open-market sale. No 10b5-1 plan or late filing noted in the provided data.

Context

• For retail investors: this appears to be a routine cashless option exercise rather than a standalone bullish purchase—Florence exercised options and used most/all of the resulting shares to cover taxes and exercise costs, with a small tranche sold on the open market for cash.
• Such exercises are common for executives exercising vested options and do not necessarily signal a change in insider sentiment about the company.