Form 4: Eagle Materials CEO Michael Haack Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
CEO Michael Haack disposed of 7,890 shares of Eagle Materials stock to cover income tax withholding requirements related to the vesting of restricted stock.
Summary
- On March 31, 2025, Michael Haack, the President and CEO of Eagle Materials Inc., disposed of 7,890 shares of common stock to satisfy income tax withholding requirements.
- The shares were disposed of at a price of $220.97 per share.
- This transaction was related to the lapsing of restrictions on previously awarded restricted stock.
- Following the transaction, Haack directly owns 77,921 shares of Eagle Materials Inc.
- The transaction was executed under the company's 2023 Equity Incentive Plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to executive stock transactions. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation packages and tax obligations. These transactions are closely monitored by investors for insights into management's perspective on the company's value and future prospects.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units (RSUs), are common across the construction materials industry.
- Companies like Martin Marietta Materials (MLM) and Vulcan Materials Company (VMC) also utilize equity-based compensation plans for their executives.
- The number of shares withheld for tax obligations is generally proportional to the executive's income and the vesting schedule of their RSUs, aligning with standard practices in similar companies.
Stakeholder Impact
- The transaction has a minimal impact on shareholders, as it is a standard procedure for covering tax obligations related to executive compensation.
- The transaction does not directly affect employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 05/21/21 | Date of previous Form 4 filing related to restricted stock awarded on 5/19/21. |
| 05/19/21 | Date of restricted stock award. |
| 05/10/22 | Date of previous Form 4 filing related to restricted stock awarded on 5/19/21 and 5/19/22. |
| 05/19/22 | Date of restricted stock award. |
| 05/23/22 | Date of previous Form 4 filing related to restricted stock awarded on 5/19/22. |
| 05/10/23 | Date of previous Form 4 filing related to restricted stock awarded on 5/19/22 and 5/19/21. |
| 05/23/23 | Date of restricted stock award. |
| 05/25/23 | Date of previous Form 4 filing related to restricted stock awarded on 5/23/23. |
| 03/31/2025 | Date of the stock disposal transaction. |
| 04/02/2025 | Date of the Form 4 filing. |
Keywords
Eagle Materials Inc, Michael Haack, Form 4, Stock Sale, Executive Compensation, Restricted Stock, Tax Withholding, EXP
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