Form 4: Smurfit Westrock Executive Reports Acquisition of Shares and Restricted Stock Units Through Dividend Equivalents

Alvaro Henao, President and CEO of LATAM for Smurfit Westrock plc, reported the acquisition of 48 ordinary shares and 366 restricted stock units on June 18, 2025, primarily through dividend equivalents.

Summary

• Alvaro Henao, President and Chief Executive Officer, LATAM, of Smurfit Westrock plc (SW), reported changes in his beneficial ownership via a Form 4 filing.
• On June 18, 2025, Mr. Henao acquired 48 ordinary shares at a price of $0, which accrued as dividend equivalents from the Issuer's quarterly dividend of $0.4308 per ordinary share.
• Following this transaction, Mr. Henao directly beneficially owns 49,144 ordinary shares, which includes 4,783 restricted stock units scheduled to vest in three equal annual installments beginning March 11, 2026.
• Additionally, Mr. Henao acquired 366 Restricted Stock Units (RSUs) under the Performance Share Plan (PSP) on June 18, 2025, also at a price of $0, as dividend equivalents on his outstanding RSU awards.
• Following this transaction, Mr. Henao directly beneficially owns 36,492 RSUs.
• The 36,492 restricted stock units are scheduled to vest as follows: 17,834 RSUs in February 2026 and 18,658 RSUs in February 2027.

Sentiment

Score: 5

Explanation: The filing is a routine Form 4 reporting the acquisition of shares and restricted stock units through dividend equivalents, which is a standard, non-discretionary transaction for an executive and does not indicate a significant positive or negative shift in company outlook or performance.

Positives

• The executive's beneficial ownership of ordinary shares and restricted stock units increased, indicating a growing alignment of interests with shareholders.
• The acquisition of shares and RSUs through dividend equivalents demonstrates a standard, non-discretionary mechanism for executive compensation and share accumulation.

Future Outlook

The document outlines the future vesting schedules for the beneficially owned restricted stock units, with installments occurring in March 2026, February 2026, and February 2027.

Management Comments

• Alvaro Henao's role is identified as President and Chief Executive Officer, LATAM.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically the acquisition of shares and restricted stock units through dividend equivalents. Such transactions are common components of executive compensation packages across various industries, reflecting standard corporate governance and incentive structures.

Stakeholder Impact

• Shareholders: The increase in executive ownership, even through routine dividend equivalents, can be viewed as a minor positive for aligning management interests with shareholder value.
• Employees: No direct impact on general employees is indicated by this filing.

Next Steps

• Vesting of 4,783 restricted stock units in three equal annual installments beginning March 11, 2026.
• Vesting of 17,834 restricted stock units in February 2026.
• Vesting of 18,658 restricted stock units in February 2027.

Key Dates

Keywords

Smurfit Westrock, SW, SEC Form 4, Insider Transaction, Beneficial Ownership, Restricted Stock Units, RSU, Dividend Equivalents, Executive Compensation, Alvaro Henao