Form 4: Dycom CFO Reports Routine Stock Disposition for Taxes

Dycom Industries' SVP & CFO, H. Andrew DeFerrari, reported a disposition of 330 common shares for tax liability related to restricted stock unit vesting.

Summary

• H. Andrew DeFerrari, SVP & CFO of Dycom Industries Inc. (DY), reported a change in beneficial ownership.
• On December 2, 2025, 330 shares of Dycom Industries common stock were disposed of.
• The transaction occurred at a price of $350.06 per share.
• This disposition was for the payment of tax liability incident to the vesting of restricted stock units.
• Following this transaction, DeFerrari directly beneficially owns 165,252 shares of common stock.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: Neutral. This is a routine, non-discretionary transaction related to executive compensation and tax obligations, not indicative of positive or negative sentiment towards the company's prospects or operational performance.

Positives

• The disposition of shares is a routine, non-discretionary event for tax withholding upon the vesting of restricted stock units, not an open-market sale indicating a lack of confidence.
• The executive continues to hold a substantial number of shares (165,252) following the transaction.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This type of insider transaction, involving the disposition of shares for tax withholding upon the vesting of restricted stock units, is a common and standard practice for executives across publicly traded companies as part of their compensation plans. It does not reflect specific industry trends but rather general corporate governance and executive compensation practices.

Comparison to Industry Standards

• The reported transaction is a standard event in executive compensation, where shares are withheld to cover tax obligations upon the vesting of equity awards. This practice is consistent with compensation structures observed in many public companies globally, including those in the telecommunications and infrastructure services sectors where Dycom operates.

Stakeholder Impact

• Shareholders: Minimal impact, as this is a routine, non-discretionary transaction related to executive compensation and tax obligations, not an open-market sale.

Key Dates

Recommendation

This Form 4 reports a routine, non-discretionary disposition of shares by a key executive for tax purposes related to restricted stock unit vesting. It does not reflect a change in the executive's confidence in the company or its future prospects, nor does it provide new information that would alter the investment thesis. Therefore, a 'hold' recommendation is appropriate as this event is neutral to the company's valuation.

Keywords

Dycom Industries, DY, Form 4, Insider Transaction, Stock Ownership, Restricted Stock Units, CFO, H. Andrew DeFerrari, Tax Withholding, 10b5-1 Plan