Ken Lavelle - May 4, 2022 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 4, 2022
Transactions value $
-$42,855
Form type
4
Date filed
5/6/2022, 04:42 PM
Previous filing
Jul 1, 2021
Next filing
May 24, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $0 +1.51K +9.13% $0.00 18K May 4, 2022 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +48 +0.27% $0.00 18.1K May 4, 2022 Direct F1
transaction AZZ COMMON STOCK Tax liability -$27.9K -586 -3.24% $47.67 17.5K May 4, 2022 Direct F2
transaction AZZ COMMON STOCK Options Exercise $0 +814 +4.65% $0.00 18.3K May 4, 2022 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +8 +0.04% $0.00 18.3K May 4, 2022 Direct F3
transaction AZZ COMMON STOCK Tax liability -$14.9K -313 -1.71% $47.67 18K May 4, 2022 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 -1.51K -50% $0.00 1.51K May 4, 2022 COMMON STOCK 1.51K Direct F4, F5, F6
transaction AZZ Restricted Stock Units Options Exercise $0 -814 -33.32% $0.00 1.63K May 4, 2022 COMMON STOCK 814 Direct F4, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This represents the vesting of dividend equivalent rights accrued on 1,510 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 AZZ common stock to satisfy tax withholding obligations.
F3 This represents the vesting of dividend equivalent rights accrued on 814 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 Each RSU represents a contingent right to receive one share of AZZ common stock.
F5 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.
F6 Once vested, the shares of common stock are not subject to expiration.
F7 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.