Company: GEF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0000043920-25-000004
Chunk: 51

Company: GREIF, INC
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 51
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 the Board of Directors based on the above six categories using the following criteria: exceeds expectations; meets expectations; and needs improvement. The Compensation Committee compiled the written comments. In evaluating the fiscal 2024 performance of Mr. Rosgaard with respect to each of the categories of his compensation, the Compensation Committee specifically discussed and recognized the following factors of Mr. Rosgaard’s performance during the year: • His strong leadership and people skills continue to strengthen the Company’s culture and teamwork, and the Build to Last strategy provides a common platform of understanding for both our colleagues, investors and other stakeholders; • His continued intense focus on employee safety and serving the needs of our customers and suppliers has resulted in high quality products and exceptional customer service; • His durable focus on value over volume has led to increased profit margins, and his commitment to continuous improvement has resulted in a strategy to divest low-profit businesses units and actively pursue higher margin business growth opportunities through acquisitions and organic growth; and • His Build to Last strategy, his focus on innovation, and his restructuring of the organization for future growth continues to create value for shareholders, even in a challenging economic and demand environment. Our CEO, Mr. Rosgaard, reviews the performance of each NEO (other than himself) annually based on the first five performance categories set forth above using three criteria – exceeds expectations; meets expectations; and needs improvement – as well as using other subjective assessments of performance. After completing his performance review, Mr. Rosgaard reports his subjective determinations and recommendations to the Compensation Committee. No single factor is given specific relative weight by Mr. Rosgaard, or the Compensation Committee, but all of the factors are considered in the aggregate in their collective experience and reasoned business judgment. The Compensation Committee then considers any proposed adjustments to the base salary, STIP and LTIP compensation, and award opportunities for those NEOs and determines whether these compensation components are at appropriate levels in light of the salaries and bonuses of other executive officers in equivalent roles in our peer group and market data provided by Willis Towers Watson. Mr. Rosgaard noted the following factors for the performance of each of the NEOs during the prior fiscal year: • Mr. Hilsheimer – As a highly respected business leader, continues to deliver substantial value to Greif through proactive action and communication. Mr. Hilsheimer's unwavering preparation and care for his team, combined with the ability to strike a balance between strategic insight and operational precision, have significantly bolstered Greif’s financial strength and positioned the company for sustained growth. • Mr. Martz