Philip A. Schlom - 04 May 2024 Form 4 Insider Report for AZZ INC (AZZ)

Role
SVP, Chief Financial Officer
Signature
/s/Tara D. Mackey, attorney-if-fact for Philip A. Schlom
Issuer symbol
AZZ
Transactions as of
04 May 2024
Net transactions value
-$130,910
Form type
4
Filing time
08 May 2024, 16:45:46 UTC
Previous filing
01 May 2024
Next filing
13 May 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $0 +1,013 +6% $0.000000 18,033 04 May 2024 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +43 +0.24% $0.000000 18,076 04 May 2024 Direct F1
transaction AZZ COMMON STOCK Tax liability $27,982 -373 -2.1% $75.02 17,703 04 May 2024 Direct F2, F3
transaction AZZ COMMON STOCK Options Exercise $0 +4,070 +23% $0.000000 21,773 04 May 2024 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +174 +0.8% $0.000000 21,947 04 May 2024 Direct F4
transaction AZZ COMMON STOCK Tax liability $102,927 -1,372 -6.3% $75.02 20,575 04 May 2024 Direct F2, F3

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 Options Exercise $0 -1,013 -100% $0.000000* 0 04 May 2024 COMMON STOCK 1,013 Direct F5, F6, F7
transaction AZZ Performance Share Units Options Exercise $0 -4,070 -100% $0.000000* 0 04 May 2024 COMMON STOCK 4,070 Direct F7, F8, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the vesting of dividend equivalent rights that accrued on 1,013 restricted stock units ("RSUs") granted on 5/4/2021, which AZZ has settled in shares of AZZ common stock.
F2 The reporting person disposed of shares of common stock to satisfy tax withholding obligations.
F3 Pursuant to the Issuers 2014 Long Term Incentive Plan, as amended, should the vesting date fall on a weekend, the closing price shall be the last trading day prior to the vesting date.
F4 Represents the vesting of dividend equivalent rights that accrued on the target performance share units ("PSUs") of 3,038 granted on 5/4/2021, which AZZ has settled in shares of AZZ common stock.
F5 Each RSU represents a contingent right to receive one share of AZZ common stock.
F6 The RSUs granted on 5/4/2021, vest ratably over a 3-year period beginning on 5/4/2022.
F7 Once vested, the shares of common stock are not subject to expiration.
F8 Each PSU represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.
F9 Represents the number of shares acquired by the reporting person upon the vesting of PSUs granted on 5/4/2021. This number represents 3,038 target PSUs and 1,032 additional PSUs earned based upon the achievement of 134% of pre-established performance goals during the performance cycle.
F10 The PSUs were granted under AZZ's 2014 Long Term Incentive Plan and had a three-year performance cycle (3/1/2021- 2/29/2024).

Remarks:

Pursuant to New York Stock Exchange (NYSE) rules, in the event a vesting date of RSUs falls on a weekend or holiday, the affected RSUs will vest on the next following NYSE business day.