EX-19.1

本政策由The Greenbrier Companies, Inc.（"Greenbrier"或"公司"）的董事会制定。此政策管辖所有交易，包括购买、出售、赠与和其他转移，涉及公司普通股或其他证券，无论是债务还是权益，包括144A进行交易的证券，以及任何衍生证券，例如看跌和看涨期权、掉期、认股权证、可转换债券和债务证券（以下简称"公司证券"），交易对象为本政策的人士。

根据联邦证券法，任何人在持有内幕消息时买入或卖出证券都是违法的。如果信息具有实质上的重要性，使得一个合理的投资者在做出投资决定时会认为重要，那么这些信息就是重要的。如果信息尚未以使投资者普遍以广泛且非排他性方式公开披露，则属于内幕消息。此外，任何持有重要的内幕消息的人向其他人提供此类信息或建议他们买入或卖出证券都是违法的。（这被称为“内线交易”）

本政策适用于公司及其子公司的所有国内外员工、官员、董事和顾问、他们的家庭成员以及在其家庭中居住的其他人，以及他们直接、影响或控制证券交易的实体。每位员工、官员、董事和顾问均有责任确保其家庭成员、个人家庭中的其他人，以及由其直接、影响或控制证券交易的任何实体，遵守本政策。

公司鼓励公司的员工、高级主管、董事和顾问投资公司证券。公司认为任何此类投资应该长期持有，而不是短期投机。本政策旨在进一步实现这些目标，帮助确保此类投资符合相关的法律和道德原则。

公司或其附属公司的任何官员、董事、员工或顾问，若持有公司的重要内部资讯，不得买入、卖出或以其他方式进行公司证券交易。这样的人不应将内幕消息透露给任何人，除非是在公司内部职位要求他们知晓的人。未经授权在公司外部披露重要内部资讯，即使没有购买或出售公司证券，也将违反本政策并可能违反证券法。

如果有相当大的可能性，合理的投资者会认为这些资讯在决定是否买入、卖出或持有公司证券时是重要的，或会视这些资讯为改变市场上资讯总体结构的要素，或者这些资讯可能会影响任何公司证券的价格，那么这些资讯就被视为「重大」。可能被视为重大的资讯的常见例子包括：

积极的和消极的资讯都可能是重要的。因为受到审查的交易将在事后以事后众议的好处进行评估，有关特定资讯重要性的问题通常应当倾向于认为该资讯具有重要性，因此应在公开披露该资讯之前避免交易。

「内幕」信息通常指尚未向公众透露的有关公司财务状况、利润或损失，或业务前景的信息。内部信息一经披露并不会立即失去其「非公开」状态。只有当信息已经广泛向市场公布（例如通过新闻稿或SEC提交），而投资大众有足够时间充分吸收信息后，该信息才被视为「公开」。根据本政策的一般规定，信息在发布后的第三个营业日之前被视为非公开。

该公司已建立向财经新闻传递资讯的程序。如对披露有疑问，请联系副总裁、企业金融和司库，或高级副总裁暨致富金融(临时代码)官员，电话：(503) 684-7000。

不论是有关公司的专有信息还是可能影响公司证券价格的信息，你都不应该将其传递给外部人士。如上所述，对于向违反法律的他人“泄露”信息的处罚也适用于泄露者，不论泄露者是否从他人的行为中获益。

该政策还禁止任何高级职员、董事、员工或顾问在其与Greenbrier相关的原因所获得的有关该公司的重要非公开信息基础上进行证券交易。其他每位此类人员应以足以适当保护有关公司信息所需的同等级别慎重对待这些信息。

为了避免公司证券出现任何投机的形象，公司或其任何子公司的员工、高级职员、董事或顾问在任何时候均不得从事卖空榜（出售当时不拥有的证券）、购买或卖出公司普通股的'买入权'或'卖出权'，或者交易公司证券的期权或编写期权，或者进行对公司证券的避险或盈利化交易，包括但不限于预付式变量方案、零成本护盘、股权掉期或所有基金类型。

没有董事或高级管理人员可以在保证金账户中持有公司普通股，也不可以将公司普通股作为贷款的抵押品，唯独在董事或高级管理人员希望将公司普通股作为贷款（不包括保证金负债）的抵押品时，必须事先获得董事会主席和首席执行官的批准。

除了上述制定的一般规则外，特殊规则适用于公司人员，因其特定的工作职责而可能更容易获取内部信息或更有意无意地滥用内部信息的潜力。这些人有时会被指定为“公司内部人员”，并将被通知其状态。其他人可能会被不时由执行本政策的主管添加到公司内部人员名单中。

公司内部人士仅可在季度“窗口期”内进行公司证券交易。这些“窗口期”将从最近完成财政期的年度或季度财务结果的公开公告后的第三个营业日开始，并在公司下一个财政季度结束前十四天结束。此外，在未公开“重大”信息之前，公司内部人士可能有其他禁止进行公司证券交易、赠送或以其他方式进行交易的时候。因此，当公司内部人士认为进行公司证券交易不适当时，公司的首席执行官或其他资深主管可能会关闭或暂停这些“窗口期”。

除了观察「窗口期」外，公司内部人士需要事先与首席法律官或致富金融(临时代码)（以下各称为「合规官员」）就所有公司证券交易进行清算。公司已经指定两名合规官员，以方便公司内部人士在其中一人不在场的情况下进行交易。公司内部人士在进行交易之前并不需要获得两位合规官员的批准，但每位合规官员必须与另一位合规官员清算其交易。合规官员可能判断即使在窗口期内也不得进行任何销售。本政策要求公司保留所有交易准证的书面记录。

Compliance with the special rules for Company Insiders is not a substitute for compliance with the overall Policy prohibiting any trading in Company Securities by persons who possess material inside information. Even during “window periods,” when trading would otherwise be permitted, persons in possession of material inside information may not buy or sell Company Securities. You are ultimately responsible for adhering to this Policy and avoiding improper trading.

The restrictions on the transactions in Company Securities, and the requirement that Company Insiders pre-clear transactions in Company Securities, apply to any sale of Company Common Stock acquired under Stock Incentive Plans.

Specifically, the trading restrictions under this Policy do not apply to the grant or award of stock options, restricted stock units, restricted stock or stock appreciation rights issued or offered by the Company. Similarly, the trading restrictions under this Policy also do not apply to the vesting, cancellation or forfeiture of stock options, restricted stock units, restricted stock or stock appreciation rights in accordance with applicable plans and agreements. The trading restrictions do apply, however, to any subsequent sales of any such Company Securities or Company Common Stock underlying such securities and any other market sale for the purpose of generating the cash needed to pay withholding taxes related to the settlement of restricted stock units or stock option exercises.

The trading restrictions in this Policy do not apply to elections with respect to participation in the Company’s employee stock purchase plan or to purchases of securities under the plan. However, the trading restrictions do apply to any subsequent sales of any such securities acquired therefrom.1

This Policy also does not apply to transactions in Company Securities under the terms of an SEC Rule 10b5-1 trading plan which has been approved by a Compliance Officer after consultation with Company counsel. Company Insiders may not enter into, modify, amend or terminate a 10b5-1 trading plan relating to Company Securities without the prior approval of a Compliance Officer, which will only be given during a window period.

Members of the Board of Directors and Company officers designated from time to time by the Board as “executive officers” for purposes of Section 16 of the Securities Exchange Act of 1934 will, among other responsibilities, be required to timely complete and file with the SEC reports on Forms 3, 4 and 5.2 Responsibility for filing such reports is with the individual director or “executive officer.” However, the Company will endeavor to assist directors and “executive officers” in completing and filing required reports. To aid in this process, and in addition to, and not in substitution for, other requirements of law and this Policy, each director and “executive officer” is required to notify the Company of his or her intent to execute a transaction in the Company’s stock, including a gift of Company Securities, at least 24 hours before such transaction is to be consummated.

Violation of this Policy may result in substantial civil liability for damages or criminal penalties. Violation of this Policy may also result in disciplinary action by the Company, including, in appropriate circumstances, termination of employment.

2 An initial report on Form 3 must be filed by every executive officer within 10 days after election or appointment disclosing all equity securities of the Company beneficially owned by the reporting person on the date he or she became an executive officer. Any subsequent change in the nature or amount of beneficial ownership by the executive officer must be reported on Form 4 and filed by the end of the second business day following the date of the transaction.

Company Insiders must annually certify their understanding of, and intent to comply with, this Policy on the attached form, but are bound by the Policy whether or not they execute and return the certification.

Questions regarding this Policy or its application to any proposed transaction should be addressed to the Chief Legal Officer or Chief Financial Officer. Do not try to resolve uncertainties on your own as the rules relating to insider trading are often complex, not always intuitive and carry severe consequences.

I certify that (a) I have received, read, and understand the Policy Regarding Trading in Company Securities, and related procedures, copies of which were distributed with this certificate, and (b) I have complied, and will continue to comply, with the Policy as a condition of employment or association with the Company.