Ken Lavelle - May 22, 2021 Form 4 Insider Report for AZZ INC (AZZ)

Role
President & GM - Electrical
Signature
/s/ Tara D. Mackey, attorney-in-fact for Ken Lavelle
Stock symbol
AZZ
Transactions as of
May 22, 2021
Transactions value $
-$12,866
Form type
4
Date filed
5/24/2021, 05:16 PM
Previous filing
May 20, 2021
Next filing
Jul 1, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $0 +957 +6.27% $0.00 16.2K May 22, 2021 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +32 +0.2% $0.00 16.3K May 22, 2021 Direct F1
transaction AZZ COMMON STOCK Tax liability -$12.9K -240 -1.48% $53.61 16K May 22, 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 -957 -50% $0.00 957 May 22, 2021 COMMON STOCK 957 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 that accrued on 957 restricted stock units ("RSUs') granted on 5/22/2019, which AZZ has settled in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
F2 The reporting person disposed of 240 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, which was 5/22/2019.
F5 Once vested, the shares of AZZ common stock are not subject to expiration.