Bryan L. Stovall - May 18, 2021 Form 4 Insider Report for AZZ INC (AZZ)

Role
COO - Metal Coatings
Signature
/s/ Tara D. Mackey, attorney-in-fact for Bryan L. Stovall
Stock symbol
AZZ
Transactions as of
May 18, 2021
Transactions value $
-$5,458
Form type
4
Date filed
5/20/2021, 06:13 PM
Next filing
May 24, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $0 +397 +2.55% $0.00 15.9K May 18, 2021 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +19 +0.12% $0.00 16K May 18, 2021 Direct F1
transaction AZZ COMMON STOCK Tax liability -$5.46K -101 -0.63% $54.04 15.9K May 18, 2021 Direct F2

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 -397 -100% $0.00* 0 May 18, 2021 COMMON STOCK 397 Direct F3, F4, F5
* 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 accrued on 397 restricted stock units ("RSUs") granted on 5/18/2018, 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 101 shares of common stock to satisfy tax withholding obligations.
F3 Each RSU represents a contingent right to receive one share of AZZ common stock.
F4 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 5/18/2019.
F5 Once vested, the shares of common stock are not subject to expiration.