Florence John M, general counsel, secretary, and vice president of Sonoco Products (SON), has filed 54 Form 4 transactions with the SEC, all tied to a single company. The pattern is overwhelmingly one of compensation-driven accumulation rather than discretionary buying. Across the entire filing history, Florence recorded roughly $4.39 million in acquired value—almost entirely through grants, awards, and option exercises—against $714,683 in open-market sales. Notably, there are zero open-market purchases (code P) in the record, meaning every acquisition came through company compensation mechanics rather than a conviction buy.
The most recent cluster of activity, dated July 29, 2026, illustrates the typical structure. Florence exercised options worth $373,541 (code M), had 38,624 shares withheld to cover taxes (code F, valued at $386,247), and sold a small tranche of shares on the open market for $15,284 (code S). That sale is the only open-market disposition in the recent window, and it is dwarfed by the concurrent option exercise. Earlier in 2026, the filings show a series of restricted stock awards (code A) ranging from roughly $19,568 to $25,671 in March and June, plus a larger February 19 award valued at $517,694 alongside another at $200,220.
The selling bias is minimal and largely mechanical. The single recent code S transaction on July 29 represents just 2% of the total sell value across all filings, and it appears tied to the option exercise rather than a broader divestment strategy. The dominant signal is one of routine equity compensation: quarterly awards, option exercises, and automatic tax-withholding sales. Florence’s Form 4 history shows no pattern of reducing a concentrated position—rather, it reflects the standard cadence of an executive accumulating shares through company plans, with occasional small sales to cover obligations.
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