Form 4: Smurfit WestRock: Executive Jairo Lorenzatto Reports Share Conversion Following WestRock Merger

Jairo Lorenzatto, a Smurfit WestRock officer, reports the conversion of WestRock shares and restricted stock units into Smurfit WestRock shares and cash following the merger of Merger Sub with WestRock.

Summary

• Jairo Lorenzatto, President and Chief Executive Officer, LATAM, reported changes in beneficial ownership of securities due to the merger between Merger Sub and WestRock.
• The merger, effective July 5, 2024, resulted in the conversion of WestRock common stock into Smurfit WestRock shares and $5.00 in cash per share.
• Restricted stock units (RSUs) held by Lorenzatto were converted into Smurfit WestRock RSUs and a cash award of $5.00 per share covered by the original WestRock RSUs.
• Lorenzatto now directly owns 1,607 ordinary shares and 19,524 restricted stock units of Smurfit WestRock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing the effects of a previously announced merger on executive shareholdings. It is neutral in tone and content.

Industry Context

This announcement reflects the completion of the merger between Smurfit Kappa and WestRock, creating a large player in the paper and packaging industry. Executive share ownership changes are a routine part of such transactions.

Stakeholder Impact

• Shareholders of WestRock have been impacted by the conversion of their shares into Smurfit WestRock shares and cash.
• The merger impacts the equity holdings of company executives like Jairo Lorenzatto.

Key Dates