Tiffany Moseley - 08 Aug 2023 Form 4 Insider Report for AZZ INC (AZZ)

Role
Chief Accounting Officer
Signature
/s/ Tara D. Mackey, attorney-in-fact for Tiffany Moseley
Issuer symbol
AZZ
Transactions as of
08 Aug 2023
Net transactions value
$0
Form type
4
Filing time
09 Aug 2023, 16:12:31 UTC
Previous filing
12 Jun 2023
Next filing
05 Jan 2024
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AZZ Restricted Stock Units Award $0 +3,545 $0.000000 3,545 08 Aug 2023 COMMON STOCK 3,545 Direct F1, F2, F3
transaction AZZ Performance Share Units Award $0 +3,545 $0.000000 3,545 08 Aug 2023 COMMON STOCK 3,545 Direct F4, F5
transaction AZZ Restricted Stock Units Award $0 +6,952 $0.000000 6,952 08 Aug 2023 COMMON STOCK 6,952 Direct F3, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of AZZ common stock.
F2 The RSUs are granted under AZZ's 2023 Long-Term Incentive Plan and vest over a three-year period with one-third of the RSUs vesting on 5/22/2024, 5/22/2025 and 5/22/2026.
F3 Once vested, the shares of common stock are not subject to expiration.
F4 Each Performance Share Unit ("PSU") represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.
F5 Represents 100% of the target number of PSUs that could be earned at the end of the 3-year performance cycle (3/1/2023 - 2/28/2026). The FY2024 PSU performance metric is AZZ's Total Shareholder Return ("TSR") relative to its executive compensation peer group. The maximum payout for the FY2024 PSUs is not to exceed 200%.
F6 Each RSU represents a contingent right to receive one share of AZZ common stock.
F7 Pursuant to Ms. Moseley's offer letter of employment, she was granted a one time equity award of 6,952 RSUs on 8/8/2023 that will cliff vest in full on 5/22/2025.