Form 4: AZEK Co Inc. Director Brian Spaly Acquires 415 Shares of Class A Common Stock Through Deferred Stock Units

Director Brian Spaly acquired 415 shares of AZEK Co Inc. Class A common stock through deferred stock units as part of a non-employee director compensation program.

Summary

• Brian Spaly, a director at AZEK Co Inc., acquired 415 shares of Class A common stock on December 9, 2024.
• The shares were obtained through deferred stock units (DSUs) granted as part of AZEK's Non-Employee Director Compensation Deferral program.
• These DSUs were fully vested at the time of the grant and were received in lieu of cash compensation.
• The DSUs will convert to shares of AZEK Class A common stock on a one-for-one basis after Mr. Spaly's departure from the Board of Directors.
• The transaction price was $54.25 per share.
• Following this transaction, Mr. Spaly directly owns 81,841 shares of AZEK Class A common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed positively as it aligns director interests with shareholders. There are no indications of negative sentiment.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.
• The use of deferred stock units aligns director compensation with long-term shareholder value.

Future Outlook

The deferred stock units will convert to shares of AZEK Class A common stock on a one-for-one basis following the reporting person's separation from the Board of Directors.

Industry Context

This transaction is a routine filing related to director compensation and is common practice for publicly traded companies. It reflects a standard method of aligning director interests with those of shareholders.

Comparison to Industry Standards

• The use of deferred stock units for director compensation is a common practice among publicly traded companies, including those in the building materials and construction industry.
• Companies like Trex Company and Builders FirstSource also utilize similar compensation structures to align director interests with long-term shareholder value.
• The vesting and conversion terms of the DSUs are typical for such arrangements, ensuring that directors have a vested interest in the company's long-term performance.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with long-term company performance.

Key Dates

Keywords

AZEK Co Inc., Brian Spaly, Class A Common Stock, Deferred Stock Units, Director Compensation, SEC Form 4, Insider Trading