Arnold Colleen F. 4

What Happened

• Colleen F. Arnold, a director of Smurfit Westrock plc (SW), was granted 367.176 restricted stock units (RSUs) on March 18, 2026. The RSUs were awarded as dividend equivalents and reported as an award/acquisition (code A) with a $0 per-share acquisition price.

Key Details

• Transaction date: 2026-03-18; Form 4 filed 2026-03-20 (period of report 2026-03-18).
• Award: 367.176 RSUs at $0.00 per RSU (dividend-equivalent grant).
• Each RSU represents the right to receive one ordinary share and is subject to the same terms and conditions as the underlying award.
• Footnote highlights:
  • F1: These RSUs accrued as dividend equivalents from a quarterly dividend of $0.4523 per ordinary share.
  • F2: Filing notes 4,422 RSUs that will vest on the earlier of May 2, 2026 or the next annual meeting, plus 27,285.136 fully vested RSUs that will be settled in ordinary shares following Arnold’s cessation of board service under the applicable non-employee director plan.
• No indication this was a sale; this is an award (not a purchase or cash transaction). Filing appears timely (filed two days after the report date).

Context

• Dividend-equivalent RSU grants are commonly used to credit additional RSUs instead of paying cash dividends on outstanding awards; they do not require the director to pay for the shares now.
• These awards do not by themselves indicate a buy/sell signal; they reflect plan terms and dividend treatment of existing equity awards.