Form 4: AZZ Inc. Executive Tara D Mackey Reports Stock Transactions
SEC Form 4 Filing
Chief Legal Officer Tara D Mackey reports acquisition and disposal of AZZ Inc. common stock and derivative securities related to vesting of restricted stock units and performance share units.
Summary
- Tara D Mackey, Chief Legal Officer of AZZ Inc., filed a Form 4 detailing changes in beneficial ownership.
- On May 9, 2025, Mackey acquired 1,725 shares of common stock through the vesting of restricted stock units (RSUs) and 4,715 shares through the vesting of performance share units (PSUs).
- Mackey also acquired 60 and 166 shares of common stock through the vesting of dividend equivalent rights that accrued on RSUs and PSUs respectively.
- She disposed of 576 and 1,870 shares to satisfy tax withholding obligations at a price of $91.49 per share.
- Following these transactions, Mackey beneficially owns 30,349 shares of AZZ Inc. common stock.
- The PSUs granted on 5/9/2022 were granted under the Issuer's 2014 Long Term Incentive Plan and had a three-year performance cycle (3/1/20222/28/2025).
Sentiment
Score: 6
Explanation: The sentiment is neutral. The document simply reports transactions related to executive compensation. There are no explicit positive or negative implications for the company's performance.
Positives
- The vesting of RSUs and PSUs indicates that performance goals were met, leading to the acquisition of additional shares.
Negatives
- The disposal of shares to cover tax obligations reduces Mackey's overall holdings, although this is a common practice.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.
Comparison to Industry Standards
- Executive compensation packages often include stock options, restricted stock units, and performance share units to align management's interests with those of shareholders.
- The vesting schedules and performance metrics associated with these equity grants are typically benchmarked against industry peers to ensure competitiveness and effectiveness.
- Companies like Quanta Services, Dycom Industries, and MasTec, which operate in related industries, also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they primarily reflect internal compensation arrangements.
- However, transparency in executive compensation practices can contribute to investor confidence.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Start date of the three-year performance cycle for PSUs granted on 5/9/2022. |
| 05/09/2022 | Date of grant for the restricted stock units (RSUs) and performance share units (PSUs). |
| 05/09/2023 | First vesting date for the RSUs granted on 5/9/2022, vesting ratably over a 3-year period. |
| 02/28/2025 | End date of the three-year performance cycle for PSUs granted on 5/9/2022. |
| 05/09/2025 | Date of the reported transactions, including vesting of RSUs and PSUs, and disposal of shares for tax obligations. |
| 05/13/2025 | Date of the Form 4 filing. |
Keywords
AZZ Inc, Tara D Mackey, Form 4, Beneficial Ownership, Restricted Stock Units, Performance Share Units, Stock Transactions, Vesting, Chief Legal Officer
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