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AZZ INC — Director's Dealing 2024
May 8, 2024
31310_dirs_2024-05-08_6172f510-1290-4361-90db-415e6d535f6c.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: 2024-05-04
Reporting Person: Stovall Bryan Lee (COO - Metal Coatings)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2024-05-04 | COMMON STOCK | M | 1221 | — | Acquired | 31158 | Direct |
| 2024-05-04 | COMMON STOCK | M | 52 | — | Acquired | 31210 | Direct |
| 2024-05-04 | COMMON STOCK | F | 435 | $75.02 | Disposed | 30775 | Direct |
| 2024-05-04 | COMMON STOCK | M | 3272 | — | Acquired | 34047 | Direct |
| 2024-05-04 | COMMON STOCK | M | 140 | — | Acquired | 34187 | Direct |
| 2024-05-04 | COMMON STOCK | F | 1103 | $75.02 | Disposed | 33084 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2024-05-04 | Restricted Stock Units | $ | M | 1221 | Disposed | COMMON STOCK (1221) | Direct | |
| 2024-05-04 | Performance Share Units | $ | M | 3272 | Disposed | COMMON STOCK (3272) | Direct |
Footnotes
F1: Represents the vesting of dividend equivalent rights that accrued on 1,221 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 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 2,442 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 2,442 target PSUs and 830 additional PSUs earned based upon the achievement of 134% of pre-established performance goals during the performance cycle.
F10: The PSUs were granted under Issuers 2014 Long Term Incentive Plan and had a three-year performance cycle (3/1/2021- 2/29/2024).