[Form 4] The Greenbrier Companies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Stardust Power Inc. (NASDAQ: SDST/SDSTW) has filed Amendment No. 1 to its Form 10-K for the fiscal year ended 31 December 2024. The sole purpose of the 10-K/A is to replace Item 9A “Controls and Procedures,” which was inadvertently omitted in the original 27 March 2025 filing. No other sections, including the consolidated financial statements, have been revised.

Key disclosures now provided:

• Disclosure Controls & Procedures: CEO and CFO evaluated the design and operation of disclosure controls as of 31 December 2024 and concluded they were effective.
• Internal Control over Financial Reporting (ICFR): Using the 2013 COSO framework, management assessed ICFR as effective at year-end 2024; there were no material weaknesses outstanding at that date.
• Material-weakness remediation: Weaknesses identified for the 16 Mar 2023–31 Dec 2023 inception period (segregation of duties, contract repository, complex instruments, COSO components) were fully remediated during 2024.
• Emerging Growth Company (EGC): As an EGC, the company is exempt from auditor attestation of ICFR under the JOBS Act.
• Capitalisation snapshot: 84,447,421 common shares outstanding (10 Jul 2025); public float market value of US$38.7 million as of 31 Dec 2024.

The filing re-affirms that there were no changes in ICFR during the last fiscal quarter other than the stated remediation efforts, and that inherent limitations of internal controls persist. All certificates (CEO/CFO, XBRL exhibits) are included with the amendment.

Positive

• Management affirms disclosure controls and ICFR were effective as of 31 Dec 2024, closing the gap left in the original 10-K.
• Previously reported material weaknesses from 2023 have been fully remediated, signalling stronger financial reporting infrastructure.
• CEO/CFO certifications and detailed COSO-based assessment enhance transparency and may bolster investor confidence.

Negative

• Original 10-K omitted mandatory Item 9A disclosures, highlighting a past compliance lapse.
• No auditor attestation on ICFR due to EGC status, leaving effectiveness unverified by an independent party.

Insights

Corporate Governance Expert

TL;DR – Amendment adds management’s ICFR effectiveness statement; prior weaknesses remediated, improving governance posture.

The 10-K/A rectifies a critical disclosure lapse by inserting Item 9A. Management now certifies that both disclosure controls and ICFR were effective at 2024 year-end, following remediation of multiple weaknesses detected in the 2023 inception period. From a governance standpoint this is positive: investors gain clarity that prior control gaps have been addressed and that management is formally accountable via updated CEO/CFO certifications. The absence of an auditor attestation is permissible under EGC status but leaves external validation pending future up-listing or filer-status changes. Overall impact is incremental but favourable, as it removes uncertainty created by the earlier omission without altering financial results.

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
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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^*

Felton Wanda F

(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)
07/11/2025

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	07/11/2025		S		3,652	D	$54.3103	3,000	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

Explanation of Responses:

	By: Kim Moore, Attorney-In-Fact For: Wanda Felton	07/11/2025
	** 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.

FAQ

Why did Stardust Power (SDST) file a Form 10-K/A?

The amendment supplies Item 9A, which was accidentally left out of the 27 Mar 2025 Form 10-K, and adds CEO/CFO internal-control certifications.

Did Stardust Power report any material weaknesses in 2024?

No. Management concluded ICFR was effective at 31 Dec 2024 after remediating earlier weaknesses from 2023.

Are Stardust Power’s internal controls independently audited?

Not yet. As an Emerging Growth Company, SDST is exempt from auditor attestation under the JOBS Act.

How many SDST shares are outstanding?

There were 84,447,421 common shares outstanding as of 10 July 2025.

What is the public float market value disclosed?

Voting stock held by non-affiliates was valued at $38.7 million on 31 Dec 2024.