Business Context and Reporting Period
This Form 8-K Current Report was filed by GREIF, INC. on August 27, 2024, regarding events that occurred on August 26, 2024. The filing addresses corporate governance changes, specifically the election of a new director to the Board of Directors.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on a corporate governance event.
Material Changes
- Board Composition: The Board of Directors approved a resolution to fix the number of directors at 11.
- Director Election: B. Andrew Rose was elected as a director to fill a new vacancy. His term will last until the next annual meeting of stockholders and until his successor is elected.
- Committee Appointment: Mr. Rose has been appointed to the Audit Committee.
- Compensation: In connection with his election, Mr. Rose received an equity award of 1,484 restricted shares of Class A Common Stock. The award value was calculated based on the last reported sale price on August 23, 2024, totaling approximately $94,667.
- Share Restrictions: The shares are fully vested on the award date and eligible for dividends but are subject to transfer restrictions for three years.
Guidance, Outlook, and Risks
The filing does not provide financial guidance, outlook, management commentary on operations, or discuss specific risks and contingencies. It states there were no arrangements or understandings between Mr. Rose and any other person regarding his election.
Key Facts for Investor Verification
- Verify the total number of directors on the Board is now 11.
- Confirm B. Andrew Rose's appointment to the Audit Committee.
- Note the issuance of 1,484 restricted shares of Class A Common Stock to the new director.
- Review the attached press release (Exhibit 99.1) for additional biographical details on the new director.