Greif (NYSE: GEF) SVP reports RSU conversion and new share awards

Rhea-AI Filing Summary

Greif, Inc. executive Timothy Bergwall, SVP and Chief Commercial Officer, reported multiple equity transactions involving Class A common stock and restricted stock units as of January 14, 2026. A block of 6,414 restricted stock units was converted into 6,414 shares of Class A common stock at a price of $0 per share, reflecting settlement of equity awards. On the same date, 1,903 shares and 7,640 shares of Class A common stock were withheld in separate transactions coded “F,” consistent with share dispositions typically used to cover tax obligations.

Also on January 14, 2026, 20,283 performance share units were awarded under the company’s Long Term Incentive Plan at no cost to the reporting person, with these shares subject to a one-year restriction on transfer. Following the reported transactions, Bergwall held 75,831.55 shares of Class A common stock directly and 22,393 restricted stock units, each representing a contingent right to receive one share of Class A common stock on the third anniversary of the applicable grant date.

Insider Trade Summary

6,414 shares exercised/converted

Mixed 5 txns

Insider Bergwall Timothy

Role SVP, Chief Commercial Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	6,414	$0.00	--
Exercise	Class A Common Stock	6,414	$0.00	--
Tax Withholding	Class A Common Stock	1,903	$0.00	--
Grant/Award	Class A Common Stock	20,283	$0.00	--
Tax Withholding	Class A Common Stock	7,640	$0.00	--

Holdings After Transaction: Restricted Stock Unit — 22,393 shares (Direct); Class A Common Stock — 65,091.55 shares (Direct)

Footnotes (1)

1. Performance Shares awarded pursuant to the Company's Long Term Incentive Plan. No consideration was paid by the reporting person. Shares are subject to a one year restriction on transfer. Each restricted stock unit represents a contingent right to receive one share of Class A common stock on the third anniversary of the grant date.

Form 4 Insider Transactions: What Each Field Means →

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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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^*

Bergwall Timothy

(Last) (First) (Middle)

425 WINTER ROAD

(Street)

DELAWARE OH 43015

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GREIF, INC [ GEF, GEF-B ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/14/2026

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
Class A Common Stock	01/14/2026		M		6,414	A	$0	65,091.55	D
Class A Common Stock	01/14/2026		F		1,903	D	$0	63,188.55	D
Class A Common Stock	01/14/2026		A		20,283(1)	A	$0	83,471.55	D
Class A Common Stock	01/14/2026		F		7,640	D	$0	75,831.55	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
Restricted Stock Unit	$0(2)	01/14/2026		M			6,414	(2)	(2)	Class A Common Stock	6,414	$0	22,393	D

Explanation of Responses:

1. Performance Shares awarded pursuant to the Company's Long Term Incentive Plan. No consideration was paid by the reporting person. Shares are subject to a one year restriction on transfer.

2. Each restricted stock unit represents a contingent right to receive one share of Class A common stock on the third anniversary of the grant date.

	Timothy Bergwall by L. Dennis Hoffman, Jr. pursuant to a POA filed with the Commission.	01/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did Greif (GEF) report for Timothy Bergwall on January 14, 2026?

On January 14, 2026, Greif SVP and Chief Commercial Officer Timothy Bergwall reported the conversion of 6,414 restricted stock units into Class A common stock, two transactions coded “F” for share dispositions often used to cover taxes, and a new award of 20,283 performance shares under the company’s Long Term Incentive Plan.

How many Greif (GEF) Class A shares did Timothy Bergwall own after these transactions?

Following the reported transactions on January 14, 2026, Timothy Bergwall beneficially owned 75,831.55 shares of Greif Class A common stock directly, according to the Form 4 disclosure.

What restricted stock and performance-based awards does Timothy Bergwall hold at Greif (GEF)?

As of January 14, 2026, the filing shows 22,393 restricted stock units held by Timothy Bergwall. Each restricted stock unit represents a contingent right to receive one share of Class A common stock on the third anniversary of the grant date, and 20,283 of the reported shares were identified as performance shares subject to a one-year restriction on transfer.

What does transaction code “M” mean in the Greif (GEF) Form 4 for Timothy Bergwall?

In the January 14, 2026 report, transaction code “M” is used for the exercise or conversion of derivative securities. It appears on both the 6,414 restricted stock units in Table II and the corresponding 6,414 Class A common shares in Table I, indicating settlement of equity awards at an exercise price of $0 per unit.

Why were some of Timothy Bergwall’s Greif (GEF) shares reported with transaction code “F”?

The Form 4 lists Class A common stock transactions on January 14, 2026 coded “F”, involving 1,903 shares and 7,640 shares. Transactions with code F generally indicate shares withheld or delivered to satisfy tax withholding obligations in connection with equity award vesting.

Were Timothy Bergwall’s Greif (GEF) awards paid for in cash by the reporting person?

The explanation of responses states that the performance shares were awarded under the company’s Long Term Incentive Plan and that no consideration was paid by the reporting person. The shares are subject to a one-year restriction on transfer from the grant date.

How do Timothy Bergwall’s restricted stock units at Greif (GEF) convert into Class A shares?

The filing explains that each restricted stock unit represents a contingent right to receive one share of Class A common stock on the third anniversary of the grant date, illustrating how these derivative awards settle into regular Class A shares over time.