Form 4: Greif COO Kimberly Kellermann Boosts Stake

Greif's SVP and Chief Operations Officer, Kimberly Kellermann, reported significant acquisitions of Class A Common Stock through performance share awards and RSU conversions, increasing her direct beneficial ownership.

Summary

• Kimberly Anne Kellermann, SVP, Chief Operations Officer of Greif, Inc. (GEF, GEF-B), reported transactions on January 14, 2026.
• Acquired 2,546 shares of Class A Common Stock upon the conversion of Restricted Stock Units (RSUs).
• Disposed of 829 shares of Class A Common Stock to cover tax withholding obligations related to the RSU conversion.
• Received an award of 8,051 shares of Class A Common Stock as Performance Shares under the Company's Long Term Incentive Plan, with no consideration paid and subject to a one-year transfer restriction.
• Disposed of 2,243 shares of Class A Common Stock to cover tax withholding obligations related to the Performance Share award.
• Following these transactions, direct beneficial ownership of Class A Common Stock increased to 11,073 shares.
• Beneficially owns 12,458 Restricted Stock Units (derivative securities) after the reported transactions.

Sentiment

Score: 8

Explanation: The filing indicates a significant increase in the executive's direct beneficial ownership of Class A Common Stock through performance share awards and the conversion of restricted stock units, demonstrating strong alignment with shareholder interests. While some shares were sold for tax purposes, the net effect is a substantial increase in the executive's stake.

Positives

• The SVP, Chief Operations Officer, Kimberly Kellermann, significantly increased her direct beneficial ownership of Class A Common Stock by 7,525 shares (net of tax withholdings) through performance share awards and RSU conversions, demonstrating strong alignment with shareholder interests.
• The award of 8,051 Performance Shares under the Long Term Incentive Plan indicates successful performance or achievement of company goals.

Negatives

• A total of 3,072 shares of Class A Common Stock were disposed of to satisfy tax withholding obligations, which is a standard practice for equity awards but reduces the immediate net share increase.

Future Outlook

Performance Shares awarded are subject to a one-year restriction on transfer, indicating a future period during which these specific shares cannot be sold by the reporting person.

Industry Context

This filing reflects standard executive compensation practices within publicly traded companies, where long-term incentive plans often include performance shares and restricted stock units to align executive interests with company performance and shareholder value. The net increase in executive ownership is generally viewed positively by the market.

Stakeholder Impact

• Shareholders: The increase in the Chief Operations Officer's direct beneficial ownership aligns management's interests more closely with those of shareholders, potentially signaling confidence in the company's future performance.
• Employees: The award of performance shares is part of the company's long-term incentive plan, which can motivate executives and potentially other employees towards achieving strategic goals.

Next Steps

• The 8,051 Performance Shares awarded on January 14, 2026, are subject to a one-year restriction on transfer.

Key Dates

Keywords

Greif, GEF, Insider Transaction, Executive Compensation, Stock Award, Restricted Stock Unit, Performance Shares, Corporate Governance