Greenbrier's William Glenn defers vested stock receipt

Each phantom share is the economic equivalent of one common share and becomes payable in cash upon William Glenn's termination of employment.

Rhea-AI Filing Summary

Greenbrier Companies Inc. (GBX) reported that William Glenn, SVP & President, Europe, deferred receipt of common shares tied to restricted stock unit vesting on October 17 and 18, 2026, receiving equal numbers of phantom shares instead. The transactions record 2,701 phantom shares acquired and an equal number of common shares disposed on October 17, and 3,745 of each on October 18. Each phantom share is the economic equivalent of one common share, becomes payable in cash upon termination of employment, and may be transferred to an alternative investment account at any time.

Insider Trade Summary

6,446 shares exercised/converted

Exercise 4 txns

Insider Glenn William

Role SVP & President, Europe

Type	Security	Shares	Price	Value
Exercise	Phantom Shares F1	3,745	$0.00	$0.00
Exercise	Common Stock F1	3,745	$0.00	$0.00
Exercise	Phantom Shares F1	2,701	$0.00	$0.00
Exercise	Common Stock F1	2,701	$0.00	$0.00

Holdings After Transaction: Phantom Shares — 41,514 contracts (Direct); Common Stock — 17,879 shares (Direct)

Footnotes (1)

1. F1. Upon the vesting of restricted stock units, the reporting person deferred the receipt of shares of common stock and received instead an equal number of shares of phantom stock pursuant to the Company's deferred compensation plan. Each phantom share is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of employment with the Company, and may be transferred by the reporting person into an alternative investment account at any time.

Key Figures

Phantom shares acquired: 2,701 shares Common shares disposed: 2,701 shares Phantom shares acquired: 3,745 shares +1 more

4 metrics

Phantom shares acquired 2,701 shares October 17, 2026

Common shares disposed 2,701 shares October 17, 2026

Phantom shares acquired 3,745 shares October 18, 2026

Common shares disposed 3,745 shares October 18, 2026

Key Terms

restricted stock units, phantom stock, deferred compensation plan

3 terms

restricted stock units financial

"Upon the vesting of restricted stock units"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

phantom stock financial

"received instead an equal number of shares of phantom stock"

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

deferred compensation plan financial

"pursuant to the Company's deferred compensation plan"

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did GBX's William Glenn report for October 17 and 18, 2026?

He reported 2,701 phantom shares and an equal number of common shares disposed on October 17, 2026, and 3,745 phantom shares and an equal number of common shares disposed on October 18, 2026. The phantom shares replaced deferred receipt of common shares upon restricted stock unit vesting.

Can William Glenn transfer the phantom shares?

The phantom shares may be transferred by William Glenn into an alternative investment account at any time. They become payable in cash upon his termination of employment with Greenbrier.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/20/2026 - 06:11 PM EDT Accepted by SEC EDGAR 10/20/2026 - 06:11 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Glenn William

(Last) (First) (Middle)

C/O THE GREENBRIER COMPANIES, INC.

ONE CENTERPOINTE DRIVE, SUITE 200

(Street)

LAKE OSWEGO OREGON 97035

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
GREENBRIER COMPANIES INC [ GBX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & President, Europe

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/17/2026		M		2,701(1)	D	$0.0	21,624	D
Common Stock	10/18/2026		M		3,745(1)	D	$0.0	17,879	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Shares	(1)	10/17/2026		M		2,701(1)		(1)	(1)	Common Stock	2,701	$0.0(1)	37,769	D
Phantom Shares	(1)	10/18/2026		M		3,745(1)		(1)	(1)	Common Stock	3,745	$0.0(1)	41,514	D

Explanation of Responses:

1. Upon the vesting of restricted stock units, the reporting person deferred the receipt of shares of common stock and received instead an equal number of shares of phantom stock pursuant to the Company's deferred compensation plan. Each phantom share is the economic equivalent of one share of common stock. The shares of phantom stock become payable in cash upon the reporting person's termination of employment with the Company, and may be transferred by the reporting person into an alternative investment account at any time.

	By: Kim Moore, Attorney-In-Fact For: William G. Glenn	10/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)