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

• On March 4, 2024, Gary Hendrickson, a director of AZEK Co Inc., reported the acquisition of 3,185 Class A Common Stock.
• These acquisitions consist of 2,558 restricted stock units (RSUs) and 627 deferred stock units (DSUs).
• 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 under AZEK's Non-Employee Director Compensation Deferral program and were fully vested as of the grant date.
• Settlement of the RSUs is deferred until the termination of Hendrickson's service as a director.
• The DSUs will settle in shares of AZEK Class A common stock on a one-for-one basis following Hendrickson's separation from the Board of Directors.
• Following the reported transaction, Hendrickson directly owns 226,407 shares of Class A Common Stock and indirectly owns 140,892 shares through a trust.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it's a standard regulatory filing. The acquisition of shares by a director is generally viewed positively, but the document itself is simply a report of the transaction.

Positives

• The acquisition of stock units by a director can be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

Settlement of the RSUs is deferred until the termination of Hendrickson's service as a director, and DSUs will settle in shares of AZEK Class A common stock upon separation from the Board.

Industry Context

This filing is a routine disclosure related to insider transactions and provides insight into the compensation structure for board members at AZEK Co Inc.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment, as it indicates a director's investment in the company.

Key Dates