Bowles Ken 4
4 · Smurfit Westrock plc · Filed Mar 20, 2026
Research Summary
AI-generated summary of this filing
Smurfit Westrock CFO Ken Bowles Receives RSU Award
What Happened
Ken Bowles, Executive VP, Group CFO and a director of Smurfit Westrock plc (SW), was awarded restricted stock units (RSUs) and had a small number of shares withheld to satisfy tax withholding. On 2026-03-18 Bowles received two RSU items: 225 RSUs (award) and 489 RSUs (dividend-equivalent RSUs) — both reported at $0.00 since these are awards, not purchases. On 2026-03-19, 39 ordinary shares were withheld/disposed at $38.58 per share to satisfy a tax withholding obligation, totaling $1,505.
Key Details
- Transaction dates and prices:
- 2026-03-18: 225 RSUs granted @ $0.00 (award)
- 2026-03-18: 489 RSUs granted (derivative/dividend equivalents) @ $0.00
- 2026-03-19: 39 shares withheld/disposed to cover taxes @ $38.58 each = $1,505
- Total RSUs received in this filing: 714 (225 + 489)
- Shares owned after the reported transactions: not specified in the filing
- Footnotes of note:
- F1: The 489 RSUs reflect dividend equivalents that accrued on the issuer’s quarterly dividend; each RSU equals the right to one ordinary share.
- F2: 39 shares were withheld to satisfy the reporting person’s tax withholding obligation related to dividend-equivalent RSUs that vested/settled in mid-March 2026.
- F3: Separately, 42,280 RSUs are scheduled to vest and be settled in February 2027 (disclosed in the filing).
- Filing timeliness: Form 4 filed 2026-03-20 reporting transactions with an effective date of 2026-03-18–03-19 (filed within the standard two-business-day window).
Context
These transactions are awards and routine tax-withholding actions — RSU grants are not open-market purchases (so they’re not a direct bullish signal like a buy). The 489 RSUs were dividend equivalents (extra RSUs credited because the company paid a quarterly dividend), and the 39-share disposition was a tax-withholding (code F), not a voluntary market sale. The filing also discloses a larger RSU grant (42,280 RSUs) scheduled to vest in Feb 2027, which investors may watch for future insider-related share activity.
Insider Transaction Report
- Award
Ordinary Shares
[F1]2026-03-18+225→ 173,699 total - Tax Payment
Ordinary Shares
[F2]2026-03-19$38.58/sh−39$1,505→ 173,660 total - Award
Restricted Stock Units (PSP)
[F1][F3]2026-03-18+489→ 42,280 totalExercise: $0.00→ Ordinary Shares (489 underlying)
Footnotes (3)
- [F1]In accordance with the terms of the restricted stock unit award, additional restricted stock units accrued as dividend equivalents in connection with the Issuer's payment of a quarterly dividend of $0.4523 per ordinary share. Such additional restricted stock units are subject to the same terms and conditions as the underlying award. Each restricted stock unit represents the right to receive one ordinary share.
- [F2]Reflects ordinary shares of Smurfit Westrock plc withheld to satisfy the reporting person's tax withholding obligation upon the vesting and settlement of dividend equivalents, which accrued on 18 March 2026. Since these dividend equivalents were associated with restricted stock units that vested and settled on 12 March 2026, the dividend equivalents immediately vested and settled on 19 March 2026 in accordance with the terms of the associated restricted stock unit award.
- [F3]The 42,280 restricted stock units vest and are due to be settled in February 2027.