Form 4: AZEK Co Inc. Director Vernon J. Nagel Reports Acquisition of Restricted and Deferred Stock Units

Director Vernon J. Nagel reports the acquisition of restricted stock units (RSUs) and deferred stock units (DSUs) in AZEK Co Inc.

Summary

• On March 4, 2024, Vernon J. Nagel, a director of AZEK Co Inc., reported the acquisition of 3,121 shares of Class A Common Stock.
• These shares consist of 2,558 restricted stock units (RSUs) and 563 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 has been deferred until the termination of Nagel's service as a director.
• The DSUs will settle in shares of AZEK Class A common stock on a one-for-one basis following Nagel's separation from the Board of Directors.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it's a standard disclosure of stock unit acquisition by a director. It doesn't inherently indicate positive or negative performance.

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 use of deferred stock units as compensation aligns the director's interests with those of the shareholders.

Future Outlook

Settlement of the RSUs is deferred until the termination of the reporting person's service as a director of the Company. The DSUs settle in shares of AZEK Class A common stock on a one-for-one basis following the reporting person's separation from the Board of Directors for any reason.

Industry Context

This filing is a routine disclosure related to insider transactions and is common for publicly traded companies. It provides transparency regarding the holdings and transactions of company directors.

Stakeholder Impact

• Shareholders may view the director's acquisition of stock units as a positive sign of confidence in the company's future.

Key Dates