GEF director adds 461.42 phantom stock units; total now 2,035.752

Rhea-AI Filing Summary

Greif, Inc. (GEF): Director Karen A. Morrison acquired 461.42 phantom stock units on November 3, 2025 (Transaction Code: A). Each unit is the economic equivalent of one share of Class A Common Stock and carries a $0 conversion price.

The filing lists a $56.89 price of the derivative security and shows 2,035.752 derivative securities beneficially owned following the transaction, held directly. The phantom shares are to be settled in cash upon her termination from the Board due to retirement, death, or other reason.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Morrison Karen

Role Director

Type	Security	Shares	Price	Value
Grant/Award	(Phantom Stock Units (Cash Only Rights)	461.42	$56.89	$26K

Holdings After Transaction: (Phantom Stock Units (Cash Only Rights) — 2,035.752 shares (Direct)

Footnotes (1)

1. Each phantom stock unit is the economic equivalent of one share of Class A Common Stock of Greif, Inc. The phantom shares are to be settled in cash upon the Reporting Person's termination from the Board due to her retirement, death or other reason.

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
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^*

Morrison Karen

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2025

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

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 Stock Units (Cash Only Rights)	$0(1)	11/03/2025		A		461.42		(2)	(2)	Class A Common Stock	461.42	$56.89	2,035.752	D

Explanation of Responses:

1. Each phantom stock unit is the economic equivalent of one share of Class A Common Stock of Greif, Inc.

2. The phantom shares are to be settled in cash upon the Reporting Person's termination from the Board due to her retirement, death or other reason.

	Karen A. Morrison by L. Dennis Hoffman, Jr. pursuant to a POA filed with the Commission.	11/04/2025
	** 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

What did Greif (GEF) disclose in this Form 4?

Director Karen A. Morrison acquired 461.42 phantom stock units on 11/03/2025 (Code A).

How many derivative securities does the reporting person now hold for Greif (GEF)?

Following the transaction, beneficial ownership is 2,035.752 derivative securities, held directly.

What are the terms of the phantom stock units for Greif (GEF)?

Each phantom unit equals one share of Class A Common Stock economically and is cash-settled upon Board departure due to retirement, death, or other reason.

What was the price associated with the derivative security on the transaction date?

The filing lists a $56.89 price of the derivative security.

What is the conversion or exercise price of the phantom units?

The conversion price is $0.

What was the ownership form for the reported Greif (GEF) holdings?

The ownership form is Direct (D).