International Paper Insider Timothy Nicholls Has Sold $17.4M Over 82 Transactions
Timothy Nicholls of International Paper sold $17.4M across 82 insider transactions. His 129K remaining shares are worth ~$6M as IP navigates the Smurfit WestRock combination.
Timothy S. Nicholls, an insider at International Paper (IP), has sold $17.4 million in company stock across 82 transactions with zero career purchases. His most recent sale in February 2023 preceded the company's landmark merger with Smurfit WestRock.
The Numbers
| Metric | Value |
|---|---|
| Career Sell Value | $17.4M |
| Career Buy Value | $0 |
| Total Transactions | 82 |
| Last Transaction | 2026-02-01 |
| Shares Remaining | 129,261 |
Recent Activity
| Date | Type | Shares | Price | Est. Value |
|---|---|---|---|---|
| 2023-02-16 | Sell | 5,000 | $38.9461 | $195K |
| 2022-10-31 | Sell | 7,500 | $33.6631 | $252K |
| 2021-03-11 | Sell | 32,999 | $53.9279 | $1.8M |
Nicholls's selling has paused since February 2023, creating a nearly three-year gap in disposition activity. The timing coincides with International Paper's transformative merger with DS Smith and broader packaging industry consolidation. His 129,261 remaining shares suggest a deliberate hold through the merger integration period.
What It Means
Nicholls's $17.4M in career sales represents steady monetization at a traditional industrial company. The three-year selling pause is notable — it could reflect blackout periods during merger negotiations, a personal decision to hold through the integration, or simply exhausted exercisable options. For a paper and packaging executive, $17.4M in career sales across 82 transactions is a measured pace.
With 129,261 shares remaining (~$6M), Nicholls retains meaningful exposure to IP's post-merger trajectory. International Paper's combination with Smurfit WestRock creates the world's largest packaging company. Whether the insider's selling pause extends into 2026 will be an informative signal about management confidence in the integration benefits.
What to Watch
- Whether Nicholls resumes selling now that merger integration is underway
- International Paper's synergy capture from the Smurfit WestRock deal
- Corrugated packaging demand trends and pricing dynamics
- Other IP insiders' trading activity post-merger
Related Research
Explore all researchWhile most mega-filers lead with NVIDIA, Capital International Investors bets biggest on Broadcom at 7.7% of portfolio. They also increased Netflix shares by 710% in Q4 2025, added $3.4B in TotalEnergies, and exited Disney entirely.
Mar 6, 2026
Ameriprise Financial's 11,224-position portfolio has the lowest top-5 concentration of any mega-filer at 14.8%. Netflix shares surged 943%, confirming an institutional consensus trade across $2.7 trillion in combined AUM. Salesforce built 82%.
Mar 6, 2026
Britain's largest asset manager holds NVIDIA at $32B and Apple at $30B in an unusually close #1/#2 race. AUM crashed $102B between Q3 and Q4 2024, then recovered. Netflix shares surged 916% — the fourth mega-filer to make this trade in Q4.
Mar 6, 2026
Canada's largest bank filed a U.S. 13F with 29,036 positions, three S&P 500 ETFs in its top 5, $12.5B of its own stock (RY), and $11.9B of competitor Toronto-Dominion. Netflix shares surged 893% in one quarter.
Mar 6, 2026
The second Capital Group division to file a massive Netflix build in Q4 2025. Capital Research Global also doubled its Applied Materials position, holds $26B in Eli Lilly, and opened a $1B position in MicroStrategy — the Bitcoin proxy.
Mar 6, 2026