SONOCO PRODUCTS CO — Board/Management Information 2009

Oct 22, 2009

8-K 1 g20880e8vk.htm FORM 8-K e8vk PAGEBREAK

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): October 19, 2009

SONOCO PRODUCTS COMPANY

Commission File No. 0-516

Incorporated under the laws	I.R.S. Employer Identification
of South Carolina	No. 57-0248420

1 N. Second St. Hartsville, South Carolina 29550 Telephone: 843/383-7000

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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Section 8 — Other Events

Item 8.01 Other Events.

On October 19, 2009, the Executive Compensation Committee of the Board of Directors of Sonoco Products Company (the “Company”) adopted the following policy prohibiting tax gross-ups in future executive compensation programs:

It is the policy of the Compensation Committee not to use tax gross-ups as a part of the compensation or benefits provided to executives of the Company; provided, however, that this policy shall not apply (i) to the tax gross-ups currently provided to eight officers pursuant to existing agreements to pay premiums on frozen executive life insurance policies that replaced the officers’ former split dollar life insurance policies, nor (ii) to gross-ups which cover certain expenses under the Company’s salaried employee relocation policy, which includes executive officers.

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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.

/s/ C.J. Hupfer
C.J. Hupfer
Senior Vice President and Chief Financial Officer

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