8-K
SONOCO PRODUCTS CO (SON)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 26, 2022
SONOCO PRODUCTS COMPANY
Commission File No. 001-11261
| South Carolina | 57-0248420 |
|---|---|
| (State or other jurisdiction or incorporation) | (I.R.S. Employer Identification Number) |
1 N. Second St.
Hartsville, South Carolina 29550
(Address of principal executive offices)(zip code)
Telephone: (843) 383-7000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | | --- | --- || ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | | --- | --- || ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | | --- | --- || ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | | --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
|---|---|---|
| No par value common stock | SON | New York Stock Exchange, LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 26, 2022, Sundaram Nagarajan, 60, extended his resignation from the Sonoco Products Company's Board of Directors (the "Board"), effective August 31, 2022. Mr. Nagarajan has served on Sonoco’s Board since 2015 and served as a member of the Executive Compensation, Financial Policy, and Employee and Public Responsibility committees. Mr. Nagarajan's resignation was not the result of any disagreement between Mr. Nagarajan and the Company, its management, board of directors or any committee thereof, or with respect to any matter relating to the Company’s operation, policies or practices.
Item 8.01 Other Events.
For additional information regarding the foregoing, please see the Registrant’s news release announcing the resignation of Sundaram Nagarajan from the Board of Directors of Sonoco Products Company, effective August 31, 2022.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description of Exhibit |
|---|---|
| 99 | Sonoco Announces Resignation of Board Member |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SONOCO PRODUCTS COMPANY | ||
|---|---|---|
| Date: August 31, 2022 | By: | /s/Aditya Gandhi |
| Aditya Gandhi | ||
| Chief Accounting Officer |
Document
| August 31, 2022 | Contact: | Lisa Weeks |
|---|---|---|
| 843-383-7524 | ||
| lisa.weeks@sonoco.com |
Sonoco Announces Resignation of Board Member
HARTSVLLE, S.C., U.S. – August 31, 2022 – Sonoco (NYSE: SON), one of the largest global sustainable packaging companies, today announced that Sundaram Nagarajan, a member of the Board of Directors, has made the decision to step down from the Board, effective immediately.
Nagarajan was appointed a Director of Sonoco in 2015 and is President and Chief Executive Officer and a member of the board of directors of Nordson Corporation (NASDAQ:NDSN), an innovative precision technology company that leverages a scalable growth framework thru an entrepreneurial, division led organization to deliver top tier growth with leading margins and returns. In his letter of resignation, Nagarajan cited personal reasons for resigning from Sonoco’s Board.
“Naga has been a valuable member of the Board and we have appreciated his experience, thoughtful insights, and impactful guidance as a Board member”, said John R. Haley, Sonoco Chairman of the Board. “On behalf of the Board of Directors, I thank Naga for his service and commitment to Sonoco and we wish him all the best in the future.”
About Sonoco
Founded in 1899, Sonoco (NYSE:SON) is a global provider of consumer, industrial, healthcare and protective packaging. With net sales of approximately $5.6 billion in 2021, the Company has approximately 22,000 employees working in more than 300 operations in 32 countries serving some of the world’s best-known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate purpose of Better Packaging. Better Life. The Company ranked first in the Packaging sector on Fortune's World's Most Admired Companies for 2022 as well as being included in Barron's 100 Most Sustainable Companies for the fourth-consecutive year. For more information on the Company, visit our website at www.sonoco.com.