Dividend-linked stock units boost Smurfit Westrock (SW) director stake

Rhea-AI Filing Summary

Rasmussen Jorgen Buhl reported acquisition or exercise transactions in this Form 4 filing.

Smurfit Westrock plc director Jorgen Buhl Rasmussen received 51 ordinary shares through a stock award on March 18, 2026. The award reflects additional restricted stock units that accrued as dividend equivalents tied to a quarterly dividend of $0.4523 per ordinary share.

After this grant, Rasmussen directly owns 12,376 ordinary shares. His holdings include 4,422 restricted stock units that will vest on the earlier of May 2, 2026 or the date of the company’s next annual stockholder meeting.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Rasmussen Jorgen Buhl

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Ordinary Shares	51	$0.00	--

Holdings After Transaction: Ordinary Shares — 12,376 shares (Direct)

Footnotes (1)

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. Includes 4,422 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^*

Rasmussen Jorgen Buhl

(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)

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

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)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	03/18/2026		A		51	A	$0(1)	12,376(2)	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

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. Includes 4,422 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.

Remarks:

	/s/ Ciara O'Riordan (attorney-in-fact-pursuant for Jorgen Buhl Rasmussen)	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)

FAQ

What insider transaction did Smurfit Westrock (SW) disclose for Jorgen Buhl Rasmussen?

Director Jorgen Buhl Rasmussen received 51 ordinary shares as a stock award. These shares arose from restricted stock units accruing as dividend equivalents linked to a quarterly dividend of $0.4523 per ordinary share, increasing his direct ownership stake in the company.

How many Smurfit Westrock (SW) shares does Jorgen Buhl Rasmussen hold after this Form 4 event?

After the March 18, 2026 award, Rasmussen directly holds 12,376 ordinary shares. This total includes previously granted equity plus the 51 additional shares issued via restricted stock units that accrued as dividend equivalents tied to Smurfit Westrock’s quarterly dividend.

What are the terms of Jorgen Buhl Rasmussen’s restricted stock units at Smurfit Westrock (SW)?

Rasmussen holds 4,422 restricted stock units that will vest on the earlier of May 2, 2026 or the date of the next annual stockholder meeting. Each unit represents the right to receive one ordinary share under the same conditions as the underlying award.

How were the 51 additional Smurfit Westrock (SW) shares for Jorgen Buhl Rasmussen generated?

The 51 additional shares came from restricted stock units accruing as dividend equivalents. When Smurfit Westrock paid a quarterly dividend of $0.4523 per ordinary share, extra restricted stock units were credited under the award, each equal to one future ordinary share.

Does the Smurfit Westrock (SW) director’s award involve any cash purchase or sale?

No cash purchase or sale occurred in this transaction. The director received 51 ordinary shares at a reported price of $0.0000 per share, reflecting a grant of additional restricted stock units as dividend equivalents rather than an open-market trade.