Haynes Ernest D III, President of Consumer Packaging Americas at Sonoco Products (SON), has filed 48 Form 4 transactions over the past year, all in the single ticker. The pattern is heavily skewed toward compensation mechanics rather than discretionary trading. Across the entire period, he recorded zero open-market purchases and two open-market sales totaling $204,665.83—the most recent being an $89,152.59 disposition on February 27, 2026, following a $115,513.24 sale on February 26, 2025. These are the only "S" codes in his filing history, indicating a deliberate but infrequent approach to liquidating equity.
The bulk of his activity consists of automatic or non-discretionary events. He received periodic equity grants (code "A") ranging from roughly $3,400 to $80,079, with the largest award on February 19, 2026. He also exercised options (code "M") with zero reported value on multiple dates in February 2026, and had shares withheld to cover tax obligations (code "F") in amounts from $324.56 to $130,331.80. The February 2026 cluster—a $80,079 grant, two option exercises, and three tax-withholding events totaling $110,206.31—suggests a routine vesting cycle rather than a market signal.
The overall direction is neutral-to-slightly-bearish from a cash perspective: total sell value of $420,590.83 against $642,783.29 in acquired value, but the acquisitions are almost entirely compensation-driven. The two open-market sales are notable for their timing—both occurring in late February, roughly a year apart—but without any purchases to offset them, the discretionary signal is one of gradual de-risking. The absence of "P" codes throughout the 48 filings confirms Haynes is not adding to his position on the open market, instead relying on scheduled grants and exercises to maintain his stake.
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