Form 4: CSV Executive Acquires Shares, Performance Awards

Carriage Services VP, GC & Secretary Sam A. Mazzu III acquired 1,559 shares of common stock and a performance-based award on February 25, 2026.

Summary

• Sam A. Mazzu III, VP, GC & Secretary of Carriage Services Inc. (CSV), acquired 1,559 shares of common stock on February 25, 2026, at a price of $44.08 per share.
• This acquisition was a Restricted Stock grant pursuant to the Carriage Services, Inc. 2017 Omnibus Incentive Plan, with vesting in equal increments over three years beginning February 25, 2027.
• Additionally, Mazzu received a performance-based award for 1,559 shares, also granted on February 25, 2026, under the same plan.
• The performance award's vesting is contingent upon achieving pre-determined Adjusted Consolidated EBITDA metrics during the period from the grant date through February 28, 2029, and requires continuous employment.
• Following these transactions, Mazzu beneficially owns 8,219 shares of common stock and 1,559 derivative securities (performance awards).

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, reflecting management's continued commitment and alignment with shareholder interests through long-term incentive compensation tied to financial performance.

Positives

• An executive acquiring shares, even through a grant, typically signals confidence in the company's future prospects.
• The performance-based award aligns management's incentives with shareholder value creation through Adjusted Consolidated EBITDA targets, promoting long-term performance.

Future Outlook

The performance-based award's vesting is tied to achieving pre-determined Adjusted Consolidated EBITDA metrics through February 28, 2029, indicating management's focus on future financial performance and strategic objectives.

Management Comments

• The awards are designed to align the interests of the reporting person with the long-term performance of the Issuer, specifically through Adjusted Consolidated EBITDA targets.

Industry Context

StockSavvy.ai notes that executive stock grants and performance awards are standard practices in the funeral and cemetery services industry, similar to other sectors, to incentivize long-term executive performance and align interests with shareholders. Companies like Service Corporation International (SCI) and StoneMor Inc. (STON) also utilize similar compensation structures to retain talent and drive strategic objectives.

Comparison to Industry Standards

• The use of restricted stock and performance-based awards tied to EBITDA metrics is a common compensation strategy across various industries, including the deathcare sector, to ensure executive incentives are aligned with company performance and shareholder returns.
• Comparable companies such as Service Corporation International (SCI) frequently employ similar long-term incentive plans for their executives, often linking vesting to financial metrics like EPS growth, revenue targets, or EBITDA.
• The three-year vesting schedule for restricted stock and the performance period through 2029 for the performance award are consistent with typical long-term incentive horizons seen in the market, aiming to foster sustained performance rather than short-term gains.

Stakeholder Impact

• Shareholders: The awards align executive incentives with long-term company performance, potentially benefiting shareholders if performance metrics are met.
• Employees: The continuous employment clause for vesting emphasizes retention of key personnel.

Next Steps

• The Restricted Stock grant will vest in equal increments each year over three years beginning February 25, 2027.
• The performance-based award will vest (if at all) provided certain pre-determined Adjusted Consolidated EBITDA metrics are achieved through February 28, 2029, and certified by the Compensation Committee.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation grant and performance award, which is a standard practice for aligning management incentives with long-term company performance. While it signals management confidence, it does not present new information that would fundamentally alter the investment thesis for Carriage Services Inc. Therefore, a 'hold' recommendation is appropriate, maintaining current positions while awaiting more substantive operational or financial updates.

Keywords

Carriage Services, CSV, Insider Trading, Form 4, Stock Grant, Performance Award, Executive Compensation, Sam A. Mazzu III, Restricted Stock, EBITDA