REG - International Paper - Director/PDMR Shareholding
13/02/2025 14:45
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RNS Number : 0663X International Paper Company 13 February 2025
13 February 2025
International Paper Company (the "Company") - Transaction Notification
Vesting of PSU Award
PDMR 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) and Price(s) Volumes
volume(s) 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 1.27,651
Aggregated volume Price 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
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) and Price(s) Volumes
volume(s) 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 1. 32,597
Aggregated volume Price 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
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) and Price(s) Volumes
volume(s) 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 1. 89,099
Aggregated volume Price 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
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) and Price(s) Volumes
volume(s) 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 1. 27,056
Aggregated volume Price 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
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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