Form 4: AZZ Inc. COO Bryan Lee Stovall Reports Stock Transactions Following RSU and PSU Vesting

Bryan Lee Stovall, COO of AZZ Inc., reports the vesting of restricted stock units (RSUs) and performance share units (PSUs), resulting in the acquisition and disposal of AZZ common stock to cover tax obligations.

Summary

• On May 4, 2024, Bryan Lee Stovall, COO of AZZ Inc., reported transactions related to the vesting of restricted stock units (RSUs) and performance share units (PSUs).
• A total of 1,221 RSUs granted on May 4, 2021, vested, resulting in the acquisition of 1,221 shares of AZZ common stock.
• Additionally, dividend equivalent rights that accrued on these RSUs also vested, resulting in the acquisition of 52 shares.
• The vesting of 2,442 target PSUs granted on May 4, 2021, resulted in the acquisition of 3,272 shares, reflecting 134% achievement of performance goals.
• Dividend equivalent rights that accrued on the PSUs also vested, resulting in the acquisition of 140 shares.
• Stovall disposed of 435 and 1,103 shares of common stock to satisfy tax withholding obligations at a price of $75.02 per share.
• Following these transactions, Stovall beneficially owns 33,084 shares of AZZ common stock.

Sentiment

Score: 6

Explanation: The document primarily reports routine transactions related to executive compensation. The achievement of performance goals is a positive sign, but the overall sentiment is neutral.

Positives

• The vesting of PSUs indicates the achievement of 134% of pre-established performance goals, suggesting strong company performance.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders.

Stakeholder Impact

• The vesting of RSUs and PSUs impacts shareholders by increasing the number of outstanding shares, although the effect is likely minimal.

Key Dates