Company: GEF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0000043920-25-000004
Chunk: 28

Company: GREIF, INC
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 28
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Equity Award Plan. Each outside director elected during the 2024 annual meeting of stockholders (held on February 26, 2024) received a number of restricted shares of Class A Common Stock under this plan in an amount equal to approximately $142,000 divided by the last reported sale price of a share of Class A Common Stock on the NYSE on February 23, 2024 (the last trading day immediately preceding the date of the 2024 annual meeting). The outside directors elected to the Board following the 2024 annual meeting of stockholders received a prorated number of restricted shares of Class A Common Stock under this plan in an amount equal to approximately $94,667 divided by the last reported sale price of a share of Class A Common Stock on the NYSE on the last trading day immediately preceding the date their stock awards were granted following their election to the Board. None of these shares of Class A Common Stock are subject to any risk of forfeiture; however, such shares are subject to restrictions on transfer for three years. All such shares are fully vested on the award date with eligibility to participate in the receipt of all dividends declared on our shares of Class A Common Stock.

In addition to the compensation described above, we provide a health and wellness program for our outside directors which includes annual physical exams, and we reimburse outside directors for expenses incurred to attend Board and committee meetings. We offer no other perquisites to our outside directors.

| Stock Ownership Guidelines for Directors |

Each outside director is required to own a minimum of five times his or her annual retainer in shares of Company common stock after five years of service as a director. Restricted shares of Class A Common Stock awarded to an outside director under any of our outside director equity award plans and the receipt of which has been deferred at the election of such outside director under the terms of the Directors Deferred Compensation Plan, described below, are counted as owned by the deferring outside director for purposes of these stock ownership guidelines. The Board evaluates whether exceptions should be made in the case of any outside director who, due to his or her unique financial circumstances, would incur a hardship by complying with these requirements. All outside directors are currently in compliance with our stock ownership guidelines.

| Director Participation in Directors Deferred Compensation Plan |

Under the Directors Deferred Compensation Plan, outside directors may elect to defer between 25 and 100 percent of their respective retainer and committee fees, as well as restricted stock awards granted under the Amended and Restated Outside Directors Equity Award Plan. Once made,