Greenbrier (NYSE: GBX) director boosts phantom share balance to 5,241

Rhea-AI Filing Summary

The Greenbrier Companies director Stevan B. Bobb reported equity award activity and deferrals tied to his board compensation. On January 7, 2026, 1,776 Restricted Stock Units vested and were converted into Common Stock, then immediately deferred so that an equivalent 1,776 phantom shares were credited under Greenbrier’s deferred compensation plan for non-employee directors. The same day, he received a fully vested grant of 3,465 Restricted Stock Units, which he also elected to defer into 3,465 phantom shares. After these transactions, Bobb held 5,241 phantom shares, each economically equal to one share of Common Stock and payable in cash or stock upon his termination of service, with the ability to move them into an alternative investment account at any time.

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

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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^*

Bobb Stevan B.

(Last) (First) (Middle)

C/O THE GREENBRIER COMPANIES, INC.

ONE CENTERPOINTE DRIVE, SUITE 200

(Street)

LAKE OSWEGO OR 97035

(City) (State) (Zip)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/07/2026

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

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

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

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	01/07/2026		M(1)		1,776	D	$0.0	0	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)	01/07/2026		M		1,776		(1)	(1)	Common Stock	1,776	(1)	1,776	D
Phantom Shares	(2)	01/07/2026		A		3,465		(2)	(2)	Common Stock	3,465	(2)	5,241	D

Explanation of Responses:

1. Upon the vesting of 1,776 Restricted Stock Units, the reporting person elected to defer the delivery of the shares of Common Stock otherwise deliverable to the reported person upon vesting and, instead, was credited with an equivalent number of phantom shares under the Company's deferred compensation plan for non-employee directors. Each phantom share is the economic equivalent of one share of Common Stock. The shares of phantom stock become payable in cash or Common Stock upon the reporting person's termination of service and may be transferred by the reporting person into an alternative investment account at any time.

2. The reported transaction represents the grant of 3,465 Restricted Stock Units that were fully vested at grant. Each Restricted Stock Unit represented a contingent right to receive one share of Common Stock. The reporting person elected to defer delivery of the shares of Common Stock otherwise deliverable to the reported person upon vesting and, instead, was credited with an equivalent number of phantom shares under the Company's deferred compensation plan for non-employee directors. Each phantom share is the economic equivalent of one share of Common Stock. The shares of phantom stock become payable in cash or Common Stock upon the reporting person's termination of service and may be transferred by the reporting person into an alternative investment account at any time.

	By: Kim Moore, Attorney-In-Fact For: Stevan B. Bobb	01/09/2026
	** 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).
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FAQ

What insider transaction did GBX director Stevan B. Bobb report on January 7, 2026?

Director Stevan B. Bobb reported the vesting of 1,776 Restricted Stock Units and the grant of 3,465 additional Restricted Stock Units on January 7, 2026, all tied to his non-employee director compensation.

How many phantom shares does Stevan B. Bobb hold after the latest GBX Form 4 filing?

Following the reported transactions, Stevan B. Bobb beneficially owned 5,241 phantom shares under Greenbrier’s deferred compensation plan for non-employee directors.

What are phantom shares in The Greenbrier Companies (GBX) deferred compensation plan?

Each phantom share is the economic equivalent of one share of Greenbrier Common Stock, credited under the deferred compensation plan and payable in cash or Common Stock when the director’s service ends.

Did Stevan B. Bobb sell any Greenbrier (GBX) Common Stock in this Form 4?

The filing shows a conversion of 1,776 Restricted Stock Units into Common Stock and a simultaneous deferral into phantom shares, leaving 0 Common Stock beneficially owned after the transaction and increasing only phantom share holdings.

Were the newly granted GBX Restricted Stock Units to Stevan B. Bobb vested immediately?

Yes. The filing states that the grant of 3,465 Restricted Stock Units was fully vested at grant, and Bobb elected to defer delivery into an equivalent number of phantom shares.

When will Stevan B. Bobb’s phantom shares in GBX become payable?

The phantom shares become payable in cash or Common Stock upon the reporting person’s termination of service as a non-employee director, and they may be transferred into an alternative investment account at any time.