Greif, Inc. Appoints New CFO

TL;DR

Greif names Timothy Kutz new CFO, starting Aug 26, with $475K salary + $1M stock award.

AI Summary

Greif, Inc. announced on August 27, 2024, the appointment of Timothy J. Kutz as Senior Vice President and Chief Financial Officer, effective August 26, 2024. Kutz will receive an annual base salary of $475,000 and is eligible for the company's annual incentive plan. He will also receive a restricted stock award valued at $1,000,000, vesting over three years.

Why It Matters

The appointment of a new Chief Financial Officer is a significant leadership change that can impact investor confidence and the company's financial strategy.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $475,000 — Annual Base Salary (For new CFO Timothy J. Kutz)
• $1,000,000 — Restricted Stock Award (For new CFO Timothy J. Kutz, vesting over three years)

Key Players & Entities

• Greif, Inc. (company) — Registrant
• Timothy J. Kutz (person) — Appointed Senior Vice President and Chief Financial Officer
• $475,000 (dollar_amount) — Annual base salary for Timothy J. Kutz
• $1,000,000 (dollar_amount) — Restricted stock award for Timothy J. Kutz
• August 26, 2024 (date) — Effective date of Timothy J. Kutz's appointment
• August 27, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $94,667 — lass A Common Stock, an amount equal to $94,667 divided by the last reported sale price

Filing Documents

• gef-20240827.htm (8-K) — 30KB
• gef2024q38-knewbodex991.htm (EX-99.1) — 6KB
• gef-20240827_g1.jpg (GRAPHIC) — 25KB
• picture1.jpg (GRAPHIC) — 39KB
• 0000043920-24-000037.txt ( ) — 316KB
• gef-20240827.xsd (EX-101.SCH) — 2KB
• gef-20240827_def.xml (EX-101.DEF) — 15KB
• gef-20240827_lab.xml (EX-101.LAB) — 27KB
• gef-20240827_pre.xml (EX-101.PRE) — 16KB
• gef-20240827_htm.xml (XML) — 4KB

02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

02(d)

Item 5.02(d). On August 26, 2024, in accordance with Article II, Section 2.1 of the By-Laws of Greif, Inc. (the "Company"), and during a regular meeting, the Company's Board of Directors (the "Board") approved a resolution to fix the number of directors of the Company at 11 and elected B. Andrew Rose as a director to fill the new vacancy on the Board. Mr. Rose is to serve until the Company's next annual meeting of stockholders and until his successor is elected and qualified. There were no arrangements or understandings between Mr. Rose and any other person pursuant to which Mr. Rose was elected as a director of the Company. Mr. Rose has been appointed to the Audit Committee of the Board. In connection with his election, Mr. Rose received an equity award under the Company's Amended and Restated Outside Directors Equity Award Plan. Mr. Rose received 1,484 restricted shares of Class A Common Stock, an amount equal to $94,667 divided by the last reported sale price of a share of Class A Common Stock on the NYSE on August 23, 2024 (the last trading day immediately preceding the date of the award). None of these shares of Class A Common Stock are subject to a risk of forfeiture; however, such shares are subject to restrictions on transfer for three years. All of these shares were fully vested on the award date with eligibility to participate in the receipt of all dividends declared on the Company's shares of Class A Common Stock. The press release announcing Mr. Rose's election as director is attached as Exhibit 99.1 to this Current Report on Form 8-K. Section 9 – Financial Statements and Exhibits

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release issued by Greif, Inc. on August 26, 2024 announcing the election of B. Andrew Rose to the Board of Directors of Greif, Inc.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GREIF, INC. Date: August 27, 2024 By /s/ Gary R. Martz Gary R. Martz Executive Vice President

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View this 8-K filing on SEC EDGAR