Form 4: AZEK Co Inc. CFO and COO Peter Clifford Reports Stock Transactions Following PSU Vesting

AZEK Co Inc.'s CFO and COO, Peter Clifford, acquired 6,532 shares of Class A common stock upon vesting of Performance Stock Units and sold 1,914 shares to cover tax obligations.

Summary

• Peter Clifford, the CFO and COO of AZEK Co Inc., acquired 6,532 shares of Class A common stock on December 9, 2024.
• These shares were acquired upon the vesting of Performance Stock Units (PSUs) that were granted in November 2021.
• On the same day, 1,914 shares were sold at a price of $54.25 per share.
• The sale of shares was to cover tax obligations related to the vesting of the PSUs.
• Following these transactions, Peter Clifford directly owns 63,287 shares of Class A common stock.

Sentiment

Score: 7

Explanation: The document reflects routine transactions related to executive compensation. There is no indication of positive or negative sentiment, it is a standard process.

Industry Context

This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting of previously granted stock-based compensation.

Comparison to Industry Standards

• Stock-based compensation, such as Performance Stock Units (PSUs), is a common practice among publicly traded companies to incentivize and retain key executives.
• The vesting of PSUs and subsequent sale of shares to cover tax obligations is a standard procedure.
• Similar transactions are regularly reported by executives at comparable companies in the building materials and construction industry.

Stakeholder Impact

• The transactions have a minimal impact on shareholders as they are related to executive compensation and do not represent a significant change in ownership.

Key Dates

Keywords

AZEK Co Inc., Peter Clifford, Class A Common Stock, Performance Stock Units, PSUs, Stock Vesting, Insider Trading, Form 4, SEC Filing