Form 4: Eagle Materials EVP and CFO, D. Craig Kesler, Reports Acquisition of Restricted Stock
SEC Form 4 Filing
D. Craig Kesler, EVP and CFO of Eagle Materials Inc., reports the acquisition of 1,170 shares of restricted stock that vested on May 3, 2024, following the achievement of performance vesting criteria.
Summary
- On May 3, 2024, D. Craig Kesler, the EVP and CFO of Eagle Materials Inc., reported the acquisition of 1,170 shares of common stock.
- These shares were granted on May 23, 2023, as restricted stock subject to performance vesting criteria based on the company's average return on equity at the end of fiscal year 2024.
- The performance vesting criteria were met, causing the 1,170 shares to become earned and reportable on May 3, 2024.
- Restrictions on these shares will lapse on May 10, 2024.
- Following the reported transaction, Kesler directly owns 60,949 shares of common stock.
- Kesler also indirectly owns 160 shares through a Reporting Person's IRA and 2,240 shares through a 401(k).
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The vesting of restricted stock suggests the company is meeting its performance goals, which is a positive sign. However, it's a routine filing and doesn't contain any major surprises.
Positives
- The vesting of restricted stock indicates that the company met its performance targets related to average return on equity.
- Kesler's increased stake in the company aligns his interests with those of other shareholders.
Future Outlook
The document does not contain any specific forward-looking statements or guidance.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the alignment of management's interests with shareholders through equity-based compensation.
Stakeholder Impact
- Shareholders may view the vesting of restricted stock positively, as it indicates that the company is achieving its performance targets.
- Employees may be motivated by the company's performance and the alignment of executive compensation with company goals.
Key Dates
| Date | Description |
|---|---|
| 05/23/2023 | Reporting person was granted 1,170 shares of restricted stock. |
| 05/03/2024 | Performance vesting criteria was determined to have been met such that 1,170 shares of restricted stock became earned and reportable. |
| 05/07/2024 | Date of signature for the report. |
| 05/10/2024 | Restrictions on the earned shares will lapse. |
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