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Director/PDMR Shareholding

13th Feb 2025 14:35

RNS Number : 0663X
International Paper Company
13 February 2025
 

13 February 2025

International Paper Company (the "Company") - Transaction NotificationVesting of PSU AwardPDMR Dealing

 

NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs") IN SHARES OF COMMON STOCK OF PAR VALUE $1.00 EACH IN THE COMPANY ("Shares")

Vesting of the International Paper Company 2022-2024 Performance Share Plan ("PSP") Performance Stock Unit ("PSU") Awards

International Paper Company (NYSE: IP; LSE: IPC), a global leader in sustainable packaging solutions, announces the vesting of PSUs in respect of Shares on 10 February 2025. Following this vesting, the Company withheld Shares on behalf of each PDMR to satisfy tax obligations.

The Shares were issued as part of PSU awards previously granted to PDMRs on 1 January 2022, under the PSP of the Company's Long-Term Incentive Plan. Joseph R. Saab, Senior Vice President, General Counsel and Corporate Secretary, received additional PSUs on 1 January 2023 to reflect his mid-year promotion in 2022 to Senior Vice President, General Counsel and Corporate Secretary.

The PSUs entitle the holder to receive Shares upon vesting of such PSUs following achievement of pre-established performance goals. The PSUs fully vest in February following a three-year performance period subject to certain forfeiture events. The number of Shares received on settlement is increased by dividend equivalents accrued during the performance period. As explained in the Company's public filings, upon vesting, the underlying number of Shares received may range from zero to 200% of the PSUs vested, based on the Company's performance with respect to the applicable performance targets.

The notifications set out below are made in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.

1.

Details of person discharging managerial responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

Clay R. Ellis

b)

Position / status

Senior Vice President - Global Cellulose Fibers

c)

Initial notification / amendment

Initial Notification

2.

Details of the issuer

 

a)

Name

International Paper Company

b)

LEI

824LMFJDH41EY779Q875

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description and identifier of the financial instrument

Shares of common stock of par value $1.00 each ("Shares")

ISIN: US4601461035

b)

Nature of the transaction

Acquisition of Shares following the vesting of PSUs granted in January 2022 under the PSP (including dividend equivalents arising from the vesting). Certain Shares are withheld and sold to cover tax obligations due on the vesting of earned PSUs.

 

c)

Price(s) andvolume(s)

Price(s)

Volumes

1. Shares acquired on vesting of PSUs

$0.00

 

 

27,651 shares of common stock

2. Shares sold to cover tax obligations on vesting of PSUs

$56.07

 

 

8,888 shares of common stock

d)

Aggregated information

Aggregated volume Price

1.27,651

2. $0

3. 8,888

4.$56.07

e)

Date of the transaction

10 February 2025

f)

Place of the transaction

1. Outside a trading venue

2. New York Stock Exchange

 

 

 

 

1.

Details of person discharging managerial responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

W. Thomas Hamic

b)

Position / status

Executive Vice President and President-North American Packaging Solutions

c)

Initial notification / amendment

Initial Notification

2.

Details of the issuer

 

a)

Name

International Paper Company

b)

LEI

824LMFJDH41EY779Q875

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description and identifier of the financial instrument

Shares of common stock of par value $1.00 each ("Shares")

ISIN: US4601461035

b)

Nature of the transaction

Acquisition of Shares following the vesting of PSUs granted in January 2022 under the PSP (including dividend equivalents arising from the vesting). Certain Shares are withheld and sold to cover tax obligations due on the vesting of earned PSUs.

 

c)

Price(s) andvolume(s)

Price(s)

Volumes

1. Shares acquired on vesting of PSUs

$0.00

 

 

32,597 shares of common stock

2. Shares sold to cover tax obligations on vesting of PSUs

$56.07

 

 

11,629 shares of common stock

d)

Aggregated information

Aggregated volume Price

1. 32,597

2. $0

3. 11,629

4. $56.07

e)

Date of the transaction

10 February 2025

f)

Place of the transaction

1. Outside a trading venue

2. New York Stock Exchange

 

 

 

1.

Details of person discharging managerial responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

Timothy S. Nicholls

b)

Position / status

Senior Vice President, Chief Financial Officer

c)

Initial notification / amendment

Initial Notification

2.

Details of the issuer

 

a)

Name

International Paper Company

b)

LEI

824LMFJDH41EY779Q875

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description and identifier of the financial instrument

Shares of common stock of par value $1.00 each ("Shares")

ISIN: US4601461035

b)

Nature of the transaction

Acquisition of Shares following the vesting of PSUs granted in January 2022 under the PSP (including dividend equivalents arising from the vesting). Certain Shares are withheld and sold to cover tax obligations due on the vesting of earned PSUs.

 

c)

Price(s) andvolume(s)

Price(s)

Volumes

1. Shares acquired on vesting of PSUs

$0.00

 

 

89,099 shares of common stock

2. Shares sold to cover tax obligations on vesting of PSUs

$56.07

 

 

34,096 shares of common stock

d)

Aggregated information

Aggregated volume Price

1. 89,099

2. $0

3. 34,096

4. $56.07

 

e)

Date of the transaction

10 February 2025

f)

Place of the transaction

1. Outside a trading venue

2. New York Stock Exchange

 

 

 

 

1.

Details of person discharging managerial responsibility ("PDMR") / person closely associated with them ("PCA")

a)

Name

Joseph R. Saab

b)

Position / status

Senior Vice President, General Counsel and Corporate Secretary

c)

Initial notification / amendment

Initial Notification

2.

Details of the issuer

 

a)

Name

International Paper Company

b)

LEI

824LMFJDH41EY779Q875

3.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

a)

Description and identifier of the financial instrument

Shares of common stock of par value $1.00 each ("Shares")

ISIN: US4601461035

b)

Nature of the transaction

Acquisition of Shares following the vesting of PSUs granted in January 2022 under the PSP (including dividend equivalents arising from the vesting). Certain Shares are withheld and sold to cover tax obligations due on the vesting of earned PSUs.

 

c)

Price(s) andvolume(s)

Price(s)

Volumes

1. Shares acquired on vesting of PSUs

$0.00

 

 

27,056 shares of common stock

2. Shares sold to cover tax obligations on vesting of PSUs

$56.07

 

 

8,819 shares of common stock

d)

Aggregated information

Aggregated volume Price

1. 27,056

2. $0

3. 8,819

4. $56.07

e)

Date of the transaction

10 February 2025

f)

Place of the transaction

1. Outside a trading venue

2. New York Stock Exchange

 

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END
 
 
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Related Shares:

Intl Paper Co
FTSE 100 Latest
Value8,054.98
Change-419.76