Form 4: Smurfit WestRock Director Terrell K. Crews Reports Share Conversion and Vesting of Restricted Stock Units Following Merger

Director Terrell K. Crews reports the conversion of WestRock shares into Smurfit WestRock shares and the vesting of restricted stock units following the merger of Merger Sub with WestRock on July 5, 2024.

Summary

• Terrell K. Crews, a director of Smurfit WestRock plc, filed a Form 4 on July 9, 2024, reporting changes in beneficial ownership.
• The report details transactions occurring on July 5, 2024, related to the merger between Sun Merger Sub, LLC and WestRock Company.
• As a result of the merger, each share of WestRock common stock held by Crews was converted into one ordinary share of Smurfit WestRock plus $5.00 in cash.
• Additionally, restricted stock units held by Crews vested and became entitled to the same merger consideration.
• Crews directly owns 27,078 ordinary shares and indirectly owns 22,635 ordinary shares held in trust.

Sentiment

Score: 7

Explanation: The document reflects the completion of a major merger, which is generally viewed positively. The director's holdings are being converted as expected, indicating a smooth transition.

Positives

• The vesting of restricted stock units provides Crews with additional shares and cash.

Industry Context

This announcement reflects the completion of a significant merger in the paper and packaging industry, consolidating Smurfit Kappa and WestRock to create Smurfit WestRock, a major global player.

Stakeholder Impact

• Shareholders of WestRock received Smurfit WestRock shares and cash as part of the merger consideration.
• The merger creates a larger, more diversified company, potentially impacting employees, customers, and suppliers.

Key Dates