Form 4: AZEK Co Inc. Director Gary Hendrickson Reports Acquisition of Restricted and Deferred Stock Units

Director Gary Hendrickson reports acquisition of restricted stock units and deferred stock units in AZEK Co Inc.

Summary

• Gary Hendrickson, a director of AZEK Co Inc., filed a Form 4 on March 6, 2025, reporting changes in beneficial ownership.
• The report indicates the acquisition of 5,191 Class A Common Stock shares on March 4, 2025.
• These shares consist of 4,220 restricted stock units (RSUs) and 971 deferred stock units (DSUs).
• Hendrickson directly owns 234,607 shares and indirectly owns 140,892 shares through a trust.
• The RSUs will vest on the earlier of the one-year anniversary of the grant date or the Issuer's next annual stockholder meeting.
• The DSUs were granted in lieu of cash compensation and were fully vested as of the grant date.
• Settlement of the RSUs is deferred until termination of Hendrickson's service as a director, while DSUs settle in shares of AZEK Class A common stock on a one-for-one basis following separation from the Board of Directors.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it is a standard disclosure of stock ownership changes. The acquisition of stock units by a director is generally viewed as a positive, but it's a routine event.

Positives

• The acquisition of stock units by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• The grant of DSUs in lieu of cash compensation can be seen as a positive for the company's cash flow.

Future Outlook

The RSUs will vest on the earlier of the one-year anniversary of the grant date or the Issuer's next annual stockholder meeting, and the DSUs will settle in shares of AZEK Class A common stock on a one-for-one basis following separation from the Board of Directors.

Industry Context

This filing is a routine disclosure of stock ownership changes by a company insider, which is common in publicly traded companies. It provides transparency to investors regarding the holdings of key personnel.

Stakeholder Impact

• The change in beneficial ownership may have a minor impact on shareholders, as it reflects the director's continued investment in the company.
• The grant of stock units can incentivize the director to work towards the company's success, benefiting all stakeholders.

Key Dates