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AZZ INC — Director's Dealing 2022
May 6, 2022
31310_dirs_2022-05-06_1db2bcdf-285b-44da-abe2-d3bd679ded4d.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: AZZ INC (AZZ)
CIK: 0000008947
Period of Report: 2022-05-04
Reporting Person: Stovall Bryan Lee (COO - Metal Coatings)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2022-05-04 | COMMON STOCK | M | 1495 | — | Acquired | 17889 | Direct |
| 2022-05-04 | COMMON STOCK | M | 14 | — | Acquired | 17903 | Direct |
| 2022-05-04 | COMMON STOCK | F | 487 | $47.67 | Disposed | 17416 | Direct |
| 2022-05-04 | COMMON STOCK | M | 1812 | — | Acquired | 19228 | Direct |
| 2022-05-04 | COMMON STOCK | M | 58 | — | Acquired | 19286 | Direct |
| 2022-05-04 | COMMON STOCK | F | 618 | $47.67 | Disposed | 18668 | Direct |
| 2022-05-04 | COMMON STOCK | M | 1221 | — | Acquired | 19889 | Direct |
| 2022-05-04 | COMMON STOCK | M | 12 | — | Acquired | 19901 | Direct |
| 2022-05-04 | COMMON STOCK | F | 398 | $47.67 | Disposed | 19503 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2022-05-04 | Restricted Stock Units | $ | M | 1495 | Disposed | COMMON STOCK (1495.0) | Direct | |
| 2022-05-04 | Restricted Stock Units | $ | M | 1812 | Disposed | COMMON STOCK (1812.0) | Direct | |
| 2022-05-04 | Restricted Stock Units | $ | M | 1221 | Disposed | COMMON STOCK (1221.0) | Direct |
Footnotes
F1: This represents the vesting of dividend equivalent rights accrued on 1,495 restricted stock units ("RSUs") granted on 5/4/2021, which AZZ has elected to pay in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
F2: The reporting person disposed of shares of common stock to satisfy tax withholding obligations.
F3: This represents the vesting of dividend equivalent rights accrued on 1,812 RSUs granted on 5/4/2021, which AZZ has elected to pay in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
F4: This represents the vesting of dividend equivalent rights accrued on 1,221 RSUs granted on 5/4/2021, which AZZ has elected to pay in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
F5: Each RSU represents a contingent right to receive one share of AZZ common stock.
F6: Mr. Stovall was granted a special one-time equity award on May 2021 that will cliff vest in full one year from the date of grant.
F7: Once vested, the shares of common stock are not subject to expiration.
F8: The RSUs are granted under AZZ's 2014 Long Term Incentive Plan and vest over a three-year period with 1/3rd of the RSUs vesting on each of the first, second and third anniversaries of the grant date beginning on 5/4/2021.
F9: The RSUs are granted under AZZ's 2014 Long Term Incentive Plan and vest over a three-year period with 1/3rd of the RSUs vesting on each of the first, second and third anniversaries of the grant date beginning on 5/4/2022.