Company: GEF
Filing Date: 2025-06-10
Form Type: 11-K/A
Source: 0000043920-25-000034
Chunk: 5

Company: GREIF, INC
Filing Date: 2025-06-10
Form: 11-K/A
Chunk 5
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-year period unless otherwise provided by collective bargaining agreements.

#### Forfeitures
Upon termination of employment, participants forfeit their unvested balances. Upon a participant's date of rehire, all years of service credited to such participant's date of termination are taken into account.

Forfeited balances of terminated participant’s unvested accounts are used to reduce the administrative expenses of the Plan or future employer contributions. Unallocated forfeitures as of December 31, 2024 and 2023 were approximately $1.8 million and $0.7 million, respectively. Forfeitures used to reduce employer contributions in 2024 were approximately $1.2 million.

#### Notes Receivable from Participants
Participants may borrow from their accounts up to a maximum equal to the lesser of $50,000 or 50 percent of their vested account balance. Loan terms range from 1-5 years, or up to 30 years if for the purchase of a primary residence. The $50,000 limit is reduced by the participant’s highest outstanding loan balance during the preceding 12-month period. A reasonable interest rate will be determined for each loan by the Plan Administrator and is commensurate with prevailing rates at the issuance of loans. As of December 31, 2024, participant loans had maturities through 2050 at interest rates ranging from 4.25 percent to 9.50 percent.

#### Payment of Benefits
Withdrawals under the Plan are allowed for termination of employment, hardship (as defined by the Plan document), retirement, or the attainment of age 59 1⁄2. Distributions may also be made to the participant in the event of physical or mental disability or to a named beneficiary in the event of the participant’s death. Distributions are made in a lump sum payment or by installment payments at the participant’s election.

#### Employer Stock Fund
Participants can elect to invest in the employer stock fund consisting of Greif, Inc. Class A Common Stock. The fund may also hold cash or cash equivalents as necessary to satisfy the obligations of the fund. Participants may not allocate more than 20% of their future contributions to the employer stock fund.

#### Plan Termination
Although it has not expressed any intent to do so, the Sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants will become 100% vested in their accounts.

Note 2 - Summary of Significant Accounting