Company: GEF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0000043920-25-000004
Chunk: 39

Company: GREIF, INC
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 39
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 industry related to our executive officers. The Compensation Committee does not establish targets or benchmarks for executive compensation when assessing peer group data, but rather uses peer group data and

Greif - Proxy Statement 31

other market information to confirm that our compensation targets and awards are comparable and competitive. The information provided by Willis Towers Watson is used by the Compensation Committee to provide context for their decision making process, but is not used to determine or recommend the amount or form of compensation paid to our executive officers, including our NEOs. The Compensation Committee, working with its compensation consultant, periodically, but at least annually, also reviews our peer group composition. The selection of peer group companies by the Compensation Committee is based on the nature, composition, geographic scope, complexity and key financial data of potential peer companies in the packaging, paper, manufacturing and industrial businesses. For fiscal 2024, the Company's peer group changed from the previous year by removing Patrick Industries, Inc. and by adding Pactiv Evergreen Inc., to better ensure our peer group is aligned to our industry and market capitalization. Our peer group consists of the companies listed below.

| AptarGroup, Inc.                  |     | H.B. Fuller Company              |     | Silgan Holdings, Inc.    |
| Ashland Inc.                      |     | JELD-WEN Holding, Inc.           |     | Sonoco Products Company  |
| Avery Dennison Corporation        |     | O-I Glass, Inc.                  |     | The Timken Company       |
| Berry Global Group, Inc.          |     | Owens Corning                    |     | UFP Industries, Inc.     |
| Cabot Corporation                 |     | Packaging Corporation of America |     | Valmont Industries, Inc. |
| Crown Holdings, Inc.              |     | Pactiv Evergreen Inc.            |     |                          |
| Graphic Packaging Holding Company |     | Sealed Air Corporation           |     |                          |

| Elements of Our Compensation Program |

During fiscal 2024, the key elements of our compensation package were:

| Base salary                                                                                                        |
| Annual performance-based incentive cash compensation under our STIP                                                |
| Long-term performance-based incentive compensation in the form of restricted stock awards under our LTIP           |
| Benefits under our pension, 401(k), supplemental executive retirement and supplemental deferred compensation plans |
| Opportunity for deferral of compensation under our deferred compensation plans                                     |

The Compensation Committee reviews tally sheets for each NEO prepared by Willis Towers Watson. The purpose of the tally sheets is