Form 4: Terrell Crews Now Holds 54,978 SW Shares After Dividend Credit

Rhea-AI Filing Summary

Smurfit Westrock plc (SW) filed a Form 4 on 23 June 2025 reporting that director Terrell K. Crews acquired 43 ordinary shares on 18 June 2025. The shares were issued at $0.00 as dividend-equivalent restricted stock units (RSUs) tied to the company’s quarterly dividend of $0.4308 per share.

Following the credit, Mr. Crews now holds 32,343 shares directly and 22,635 shares indirectly through a trust, for a combined ownership of 54,978 shares. His total includes 4,282 RSUs that will vest on the earlier of 2 May 2026 or the next annual meeting of shareholders.

This is an automatic, non-cash adjustment rather than an open-market purchase or sale, so the filing is considered routine with limited market significance. It marginally increases insider equity exposure and maintains alignment of interests between the director and shareholders.

Insights

Financial Analyst

TL;DR Routine RSU dividend credit; no cash purchase; neutral for valuation.

The 43-share increase stems from automatic dividend-equivalent accrual on existing RSUs, not an active trading decision. Total ownership rises to 54,978 shares, a negligible change relative to Smurfit Westrock’s float. Because there is no purchase price and the quantity is immaterial, the filing does not signal confidence or concern about future performance. Investors should view this as standard administrative maintenance of the equity incentive program rather than a catalyst.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider CREWS TERRELL K

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Ordinary Shares	43	$0.00	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary Shares — 32,343 shares (Direct); Ordinary Shares — 22,635 shares (Indirect, Shares held in Trust)

Footnotes (1)

1. In accordance with the terms of outstanding restricted stock units, additional restricted stock units accrued as dividend equivalents in connection with the Issuer's payment of a quarterly dividend of $0.4308 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. Includes 4,282 restricted stock units which will vest on the earlier of (i) May 2, 2026, or (ii) the date of the next annual meeting of Smurfit Westrock plc's stockholders.

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^*

CREWS TERRELL K

(Last) (First) (Middle)

BEECH HILL

CLONSKEAGH

(Street)

DUBLIN 4 L2 D04 N2R2

(City) (State) (Zip)

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

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)
06/18/2025

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
Ordinary Shares	06/18/2025		A		43	A	$0(1)	32,343(2)	D
Ordinary Shares								22,635	I	Shares held in Trust

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:

1. In accordance with the terms of outstanding restricted stock units, additional restricted stock units accrued as dividend equivalents in connection with the Issuer's payment of a quarterly dividend of $0.4308 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. Includes 4,282 restricted stock units which will vest on the earlier of (i) May 2, 2026, or (ii) the date of the next annual meeting of Smurfit Westrock plc's stockholders.

	/s/ Ciara O'Riordan, attorney-in-fact pursuant for Terrell K. Crews	06/23/2025
	** 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

How many Smurfit Westrock (SW) shares did Terrell K. Crews acquire on 18 June 2025?

He received 43 ordinary shares through dividend-equivalent RSUs.

What is Terrell K. Crews’ total beneficial ownership after the Form 4 filing?

Mr. Crews now owns 54,978 SW shares (32,343 direct and 22,635 indirect).

Was the transaction an open-market purchase?

No. It was an automatic RSU dividend credit at $0.00 per share.

When will the 4,282 outstanding RSUs held by Crews vest?

They vest on the earlier of 2 May 2026 or the next annual shareholder meeting.

Does this Form 4 have material impact on Smurfit Westrock’s valuation?

The small, non-cash nature of the transaction makes it immaterial to valuation.