Company: GEF
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0000043920-25-000004
Chunk: 8

Company: GREIF, INC
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 8
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2001 Management Equity Incentive and Compensation Plan

At the Annual Meeting, the Class B stockholders will be requested to consider and approve a proposal to amend a material term of the Company’s 2001 Management Equity Incentive and Compensation Plan, hereinafter referred to as the “2001 Plan,” that will extend the time period under which awards may be granted under the 2001 Plan.

| Proposed Amendment to Material Term |

At the 2002 annual meeting of stockholders, the Class B stockholders first approved the 2001 Plan. The 2001 Plan was subsequently amended at the 2011 annual meeting of stockholders, the 2015 annual meeting of stockholders, and the 2020 annual meeting of stockholders to extend the time period under which awards may be granted under the 2001 Plan from December 4, 2010 to December 4, 2025.

It is proposed that the 2001 Plan be amended to extend the time period under which awards may be granted under the 2001 Plan from December 4, 2025 to December 4, 2030. The proposed amendment to the 2001 Plan is attached as Exhibit A to this proxy statement.

| Purpose of the 2001 Plan |

The purpose of the 2001 Plan is to advance the interests of the Company and its stockholders by providing a means of attracting and retaining key employees for the Company and its subsidiary corporations. The 2001 Plan does so by providing the means to award stock options and shares of common stock to these key employees. The Company has not made any awards of stock options under the 2001 Plan since 2005 and has issued restricted stock only as a component of the hiring packages of four executives since 2005. As of January 3, 2020, there were no outstanding stock options under the 2001 Plan. No awards under the 2001 Plan are contemplated for fiscal year 2025, and no awards were made under the 2001 Plan during fiscal year 2024. While it is the present intention of the Compensation Committee not to commence making annual awards under the 2001 Plan, the Compensation Committee desires to maintain flexibility in making stock-based awards available in certain circumstances, such as a component of compensation packages offered to attract new key employees.

| Summary of the 2001 Plan |

The following discussion describes important aspects of the 2001 Plan. This discussion is intended to be a summary of the material provisions of the