RSU dividend equivalents add shares for Smurfit Westrock (SW) officer

Q: What does the 90-share acquisition on Smurfit Westrock (SW) Form 4 represent?

The 90-share acquisition is a grant of additional restricted stock units that accrued as dividend equivalents from a quarterly dividend of $0.4523 per ordinary share. Each restricted stock unit represents the right to receive one Ordinary Share under the same award terms.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Smurfit Westrock plc officer Ben Garren reported routine equity compensation-related movements in Ordinary Shares. On 18 March 2026, he acquired 90 shares at $0.0000 per share as a grant tied to restricted stock unit dividend equivalents from a quarterly dividend of $0.4523 per ordinary share. On 19 March 2026, 9 shares were disposed of at $38.58 per share, withheld to satisfy tax obligations upon vesting and settlement of those dividend equivalents. Following these transactions, he directly holds 14,717 Ordinary Shares, reflecting a small, compensation-driven net increase.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Garren Ben

Role See remarks

Type	Security	Shares	Price	Value
Tax Withholding	Ordinary Shares	9	$38.58	$347.22
Grant/Award	Ordinary Shares	90	$0.00	--

Holdings After Transaction: Ordinary Shares — 14,717 shares (Direct)

Footnotes (1)

In accordance with the terms of the restricted stock unit award, additional restricted stock units accrued as dividend equivalents in connection with the Issuer's payment of a quarterly dividend of $0.4523 per ordinary share. Such additional restricted stock units are subject to the same terms and conditions as the underlying award. Each restricted stock unit represents the right to receive one ordinary share. Reflects ordinary shares of Smurfit Westrock plc withheld to satisfy the reporting person's tax withholding obligation upon the vesting and settlement of dividend equivalents, which accrued on 18 March 2026. Since these dividend equivalents were associated with restricted stock units that vested and settled on 12 March 2026, the dividend equivalents immediately vested and settled on 19 March 2026 in accordance with the terms of the associated restricted stock unit award.

Form 4 Insider Transactions: What Each Field Means →

03/20/2026 - 01:27 PM

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^*

Garren Ben

(Last)

(First)

(Middle)

BEECH HILL, CLONSKEAGH

(Street)

DUBLIN 4

D04 N2R2

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Smurfit Westrock plc [ SW ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	03/18/2026		A⁽¹⁾		90	A	$0	14,726	D
Ordinary Shares	03/19/2026		F⁽²⁾		9	D	$38.58	14,717	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. In accordance with the terms of the restricted stock unit award, additional restricted stock units accrued as dividend equivalents in connection with the Issuer's payment of a quarterly dividend of $0.4523 per ordinary share. Such additional restricted stock units are subject to the same terms and conditions as the underlying award. Each restricted stock unit represents the right to receive one ordinary share.

2. Reflects ordinary shares of Smurfit Westrock plc withheld to satisfy the reporting person's tax withholding obligation upon the vesting and settlement of dividend equivalents, which accrued on 18 March 2026. Since these dividend equivalents were associated with restricted stock units that vested and settled on 12 March 2026, the dividend equivalents immediately vested and settled on 19 March 2026 in accordance with the terms of the associated restricted stock unit award.

Remarks:

Executive Vice President and Group General Counsel

	/s/ Ciara O'Riordan (attorney-in-fact for Ben Garren)	03/20/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Smurfit Westrock (SW) officer Ben Garren report?

Ben Garren reported a grant of 90 Ordinary Shares on 18 March 2026 and a related tax-withholding disposition of 9 shares on 19 March 2026. Both movements stem from restricted stock unit dividend equivalents tied to a quarterly dividend.

How many Smurfit Westrock (SW) shares does Ben Garren hold after this Form 4?

After these transactions, Ben Garren directly holds 14,717 Ordinary Shares of Smurfit Westrock plc. This reflects the grant of 90 shares as dividend-equivalent restricted stock units, partially offset by 9 shares withheld to cover associated tax obligations.

Why were 9 Smurfit Westrock (SW) shares disposed of at $38.58?

The 9 shares were withheld at $38.58 per share to satisfy Ben Garren’s tax withholding obligation when dividend-equivalent restricted stock units vested and settled on 19 March 2026. This is a tax-withholding disposition, not an open-market sale.

How are dividend equivalents handled for Smurfit Westrock (SW) restricted stock units?

Dividend equivalents accrue as additional restricted stock units when Smurfit Westrock pays its quarterly dividend, here $0.4523 per ordinary share. These additional units are subject to the same terms as the original award and settle into Ordinary Shares upon vesting.

Were the Smurfit Westrock (SW) dividend equivalents tied to an earlier vesting date?

Yes. The dividend equivalents accrued on 18 March 2026 were associated with restricted stock units that vested and settled on 12 March 2026. Under the award terms, these dividend equivalents immediately vested and settled on 19 March 2026.