Form 4: Greif Director Acquires Phantom Stock Units

Greif Director B. Andrew Rose acquired 16.21 phantom stock units, increasing his beneficial ownership to 1,745.762 units.

Summary

• B. Andrew Rose, a Director of Greif, Inc. (GEF, GEF-B), acquired 16.21 phantom stock units.
• The transaction occurred on October 1, 2025, and was reported on October 2, 2025.
• Each phantom stock unit is the economic equivalent of one share of Greif's Class A Common Stock.
• The acquisition price for these units was $59.76 per unit.
• Following this transaction, B. Andrew Rose beneficially owns a total of 1,745.762 phantom stock units.
• The phantom stock units are to be settled in cash upon the earlier of a future fixed date designated by the Reporting Person or his termination from the Board due to retirement, death, disability, or other reasons.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 7

Explanation: The acquisition of phantom stock units by a director is generally viewed as a positive signal, indicating confidence in the company's future and aligning management's interests with shareholders. The transaction being pre-planned under Rule 10b5-1(c) makes it a routine, expected event rather than a spontaneous market-driven purchase.

Positives

• A Director increasing their beneficial ownership, even through phantom stock units, generally signals confidence in the company's future performance.
• The acquisition aligns the Director's financial interests more closely with those of the shareholders.

Future Outlook

The phantom stock units are scheduled to be settled in cash upon the earlier of a future fixed date designated by the Reporting Person at the time of the deferral election, or the Reporting Person's termination from the Board due to retirement, death, disability, or other reasons.

Management Comments

• B. Andrew Rose, a Director, has increased his beneficial ownership of phantom stock units, signaling continued commitment to Greif's performance.

Industry Context

This is a routine insider transaction report for a publicly traded company. Such filings provide transparency regarding management's holdings and do not typically offer broad industry insights on their own.

Stakeholder Impact

• Shareholders may perceive this increase in director ownership as a positive indicator of management's belief in the company's long-term value.

Next Steps

• Future cash settlement of the phantom stock units based on the pre-determined conditions (fixed date or termination from the Board).

Key Dates

Recommendation

This Form 4 reports a routine, pre-planned acquisition of phantom stock units by a director. While it indicates continued alignment of interests, the relatively small size of the transaction and its pre-scheduled nature do not provide sufficient new information to warrant a change in investment recommendation based solely on this filing.

Keywords

Greif, GEF, Insider Transaction, Form 4, Director, Phantom Stock Units, Beneficial Ownership, Rule 10b5-1