SW Form 4: Director Suzan Harrison Credited 41 RSUs; Total Ownership 25,541 Shares
Rhea-AI Filing Summary
Suzan F. Harrison, a director of Smurfit Westrock plc (SW), reported a non-derivative acquisition on 09/18/2025 of 41 ordinary shares as restricted stock units issued as dividend equivalents in connection with the company's quarterly dividend of $0.4308 per ordinary share. The shares were issued at a reported price of $0, and following the transaction her beneficial ownership totals 25,541 ordinary shares. The filing notes that 4,323 restricted stock units included in that total will vest on the earlier of May 2, 2026 or the date of the next annual meeting. The Form 4 was signed by attorney-in-fact Ciara O'Riordan.
Positive
- 41 restricted stock units were issued as dividend equivalents, maintaining economic parity for equity awards with the company's quarterly dividend
- The filing discloses specific vesting terms for 4,323 RSUs, improving transparency about future potential share issuance
Negative
- None.
Insights
TL;DR Director received 41 RSUs as dividend equivalents, modestly increasing her stake and reflecting routine equity compensation mechanics.
The transaction is a routine issuance of restricted stock units credited as dividend equivalents tied to the issuer's declared quarterly dividend of $0.4308 per share. Such accruals preserve the economic value of equity awards when dividends are paid and do not involve cash outflow by the reporting person. The disclosure is transparent about vesting: 4,323 RSUs remain subject to time- or event-based vesting (earlier of May 2, 2026 or the next annual meeting). From a governance perspective this is standard practice and not a material change to control or incentives.
TL;DR Small issuance of RSUs increases reported ownership to 25,541 shares; vesting schedule for a subset is disclosed, indicating ongoing compensation alignment.
The Form 4 reports a nominal grant of 41 RSUs credited as dividend equivalents with a $0 reported price, consistent with dividend-equivalent accrual mechanics. Total beneficial ownership after the issuance is 25,541 shares, which includes 4,323 RSUs that remain unvested until May 2, 2026 or the next annual meeting. This disclosure provides necessary clarity on dilution and vesting timing but does not indicate any exercised options, cash purchases, or large-scale insider trading activity.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Ordinary Shares | 41 | $0.00 | -- |
Footnotes (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 4,323 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.
