Form 4: SunCoke Energy SVP Hardesty Reports RSU, PSU Vesting

SunCoke Energy's Senior Vice President, Phillip Michael Hardesty, reported the vesting and settlement of various restricted and performance share units, along with associated tax withholdings.

Summary

• Phillip Michael Hardesty, Senior Vice President of SunCoke Energy, Inc. (SXC), reported multiple transactions related to his beneficial ownership of company common stock.
• Transactions primarily involved the vesting and settlement of Restricted Share Units (RSUs) and Performance Share Units (PSUs).
• On February 24, 2026, 8,683 shares of common stock were acquired from the vesting of RSUs granted on February 23, 2023.
• Concurrently, 4,108 shares were disposed of at $5.88 per share to satisfy statutory tax withholding requirements related to the RSU vesting.
• Also on February 24, 2026, 7,792 shares of common stock were acquired from the vesting of RSUs granted on February 22, 2024.
• An additional 3,686 shares were disposed of at $6.22 per share for tax withholding related to this RSU vesting.
• On February 23, 2026, 8,688 shares of common stock were acquired from the vesting of RSUs granted on February 21, 2025.
• 4,570 shares were disposed of at $6.22 per share for tax withholding related to this RSU vesting.
• On February 24, 2026, 10,695 shares of common stock were acquired from the settlement of a Performance Share Unit (PSU) award granted on February 23, 2023, net of tax withholdings.
• A new grant of 39,981 Restricted Share Units (RSUs) was awarded on February 19, 2026, vesting in three equal annual installments starting February 19, 2027.
• Following these transactions, Hardesty beneficially owns 286,177 shares of common stock directly and holds 65,150 unvested derivative securities (RSUs).

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine and expected filing detailing executive compensation. The vesting of awards is a positive for the executive and reflects the execution of long-term incentive plans, while the new grant indicates continued commitment.

Positives

• Executive Phillip Michael Hardesty received a significant number of shares (35,858 shares total) through the vesting of previously granted equity awards, indicating successful achievement of performance or time-based conditions.
• A new grant of 39,981 Restricted Share Units (RSUs) was awarded to Hardesty, demonstrating continued long-term incentive alignment with company performance.

Negatives

• A total of 12,364 shares were disposed of to cover statutory tax withholding requirements, reducing the net shares received by the executive.

Future Outlook

The filing indicates future vesting events for the newly granted 39,981 Restricted Share Units, which will occur in three equal annual installments starting February 19, 2027, and for the remaining unvested tranches of previously granted RSUs.

Management Comments

• "Conversion rate is 1 for 1."
• "Shares withheld by Registrant to satisfy minimum statutory withholding requirements on vesting of RSUs."
• "Represents settlement of Performance Share Unit ('PSU') award granted February 23, 2023 pursuant to SunCoke Energy, Inc. ('SXC') Long Term Performance Plan in a transaction exempt under Rule 16b-3. PSU award settled, at the end of applicable three-year vesting period, in shares of SXC common stock, (net of shares withheld by Registrant to satisfy statutory tax withholding requirements)."
• "Grant of restricted share units awarded pursuant to the SunCoke Energy, Inc. Omnibus Long-Term Incentive Plan in a transaction exempt under Rule 16b-3. The restricted share units vest in three equal annual installments on the first, second and third anniversary of the grant date."

Industry Context

StockSavvy.ai notes that the vesting and granting of equity awards like RSUs and PSUs are standard practices in executive compensation across various industries, including the industrial materials sector where SunCoke Energy operates. These mechanisms are designed to align executive incentives with long-term shareholder value creation and retention.

Comparison to Industry Standards

• StockSavvy.ai observes that the structure of these equity awards, involving multi-year vesting schedules and performance conditions for PSUs, aligns with common corporate governance best practices seen in comparable industrial companies such as ArcelorMittal, Cleveland-Cliffs Inc., and U.S. Steel Corporation.
• The use of share withholding for tax purposes is also a standard, efficient method for managing executive compensation taxes.

Stakeholder Impact

• Shareholders: Minor dilution from the issuance of shares for equity awards, offset by the alignment of executive incentives with long-term company performance.
• Executive (Phillip Michael Hardesty): Increased personal wealth through vested shares and continued long-term incentive alignment with new RSU grant.

Next Steps

• First vesting installment of the 39,981 RSUs granted on February 19, 2026, will occur on February 19, 2027.
• Subsequent vesting installments for the 39,981 RSUs will occur on the second and third anniversaries of the grant date (February 19, 2028, and February 19, 2029).
• Remaining unvested tranches of RSUs granted on February 22, 2024, and February 21, 2025, will vest according to their respective three-year annual installment schedules.

Key Dates

Keywords

SunCoke Energy, SXC, Form 4, insider transaction, Restricted Share Units, RSU, Performance Share Units, PSU, executive compensation, stock award, beneficial ownership