Form 4: AZZ Inc. COO Kurt L. Russell Reports Stock Transactions
SEC Form 4 Filing
Kurt L. Russell, COO of Precoat Metals (a division of AZZ Inc.), reports the vesting of restricted stock units and subsequent tax-related stock disposal.
Summary
- On May 13, 2024, Kurt L. Russell, COO of Precoat Metals, reported transactions involving AZZ Inc. stock.
- 15,000 restricted stock units (RSUs) vested, resulting in the acquisition of 15,000 shares of common stock.
- Additionally, 377 shares were acquired due to the vesting of dividend equivalent rights on RSUs granted on May 13, 2022.
- 6,050 shares were disposed of to satisfy tax withholding obligations at a price of $76.55 per share.
- Following these transactions, Russell directly owns 29,033 shares of common stock and 9,354 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions, which are common for executives receiving stock-based compensation. It provides transparency into the trading activities of company insiders.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation activities.
Key Dates
| Date | Description |
|---|---|
| 05/13/2022 | Date of original grant of restricted stock units that vested in the current period. |
| 05/13/2023 | Start date of the two-year vesting period for the RSUs granted on 5/13/2022. |
| 05/13/2024 | Date of the reported transactions: vesting of RSUs and disposal of shares for tax obligations. |
| 05/14/2024 | Date of signature of the Form 4 filing. |
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