Chris M. Bacius - Jul 22, 2021 Form 4 Insider Report for AZZ INC (AZZ)

Role
VP, Corporate Development
Signature
/s/ Tara D. Mackey, attorney-in-fact for Chris M. Bacius
Stock symbol
AZZ
Transactions as of
Jul 22, 2021
Transactions value $
-$3,839
Form type
4
Date filed
7/26/2021, 04:17 PM
Previous filing
Jul 1, 2021
Next filing
May 6, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $126K +2.72K +16.04% $46.34 19.7K Jul 22, 2021 Direct
transaction AZZ COMMON STOCK Disposed to Issuer -$126K -2.42K -12.3% $52.09 17.3K Jul 22, 2021 Direct F1
transaction AZZ COMMON STOCK Tax liability -$3.8K -73 -0.42% $52.09 17.2K Jul 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 STOCK APPRECIATION RIGHTS Options Exercise $0 -2.72K -100% $0.00* 0 Jul 22, 2021 COMMON STOCK 2.72K Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares forfeited for the conversion of stock appreciation rights ("SARs"), which were settled in shares of AZZ common stock in an amount equal to the excess value of the grant date price ($46.34) over the exercise prices ($52.09).
F2 The reporting person forfeited 73 shares of common stock to satisfy tax withholding obligations on the exercised SARs.
F3 The conversion of SARs are settled in shares of AZZ common stock in an amount equal to the excess value of the grant date price of ($46.34) over the exercise price of ($52.09) on the exercise date.
F4 On September 1, 2014, the reporting person was granted SARs, which vested ratably over a three-year period beginning on March 1, 2015.
F5 The SARs granted on September 1, 2014 have an expiration date of September 1, 2021.