International Paper Insider Timothy Nicholls Has Sold $17.4M Over 82 Transactions

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