Thomas E. Ferguson - 22 May 2022 Form 4 Insider Report for AZZ INC (AZZ)

Reporting relationship: President and CEO, Director
Issuer ticker: AZZ
Reported as of: 22 May 2022
Net transaction value: -$578,053
SEC form: 4
Accepted by SEC: 24 May 2022, 18:44:02 UTC
Prior SEC filing: 06 May 2022
Next SEC filing: 08 Jul 2022
Source filing: View source filing
Reporting owner signature: /s/ Tara D. Mackey, attorney-in-fact for Thomas E. Ferguson

Key filing fact

Thomas E. Ferguson filed Form 4 for AZZ INC (AZZ) on 24 May 2022.

Key facts

This page summarizes Thomas E. Ferguson's Form 4 filing for AZZ INC (AZZ).
8 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 24 May 2022, 18:44.

Change

Previous filing in this sequence was filed on 06 May 2022.
Current net transaction value: -$578,053.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

AZZ transaction

COMMON STOCK

Options Exercise

Transaction value: $0
Shares: +26,532
Change %: +18%
Price: $0.000000
Shares after: 171,037
Date: 22 May 2022
Ownership: Direct

AZZ transaction

COMMON STOCK

Options Exercise

Transaction value: $0
Shares: +1,277
Change %: +0.75%
Price: $0.000000
Shares after: 172,314
Date: 22 May 2022
Ownership: Direct
Footnotes: F1

AZZ transaction

COMMON STOCK

Tax liability

Transaction value: $475,211
Shares: -10,942
Change %: -6.4%
Price: $43.43
Shares after: 161,372
Date: 22 May 2022
Ownership: Direct
Footnotes: F2

AZZ transaction

COMMON STOCK

Options Exercise

Transaction value: $0
Shares: +5,743
Change %: +3.6%
Price: $0.000000
Shares after: 167,115
Date: 22 May 2022
Ownership: Direct

AZZ transaction

COMMON STOCK

Options Exercise

Transaction value: $0
Shares: +276
Change %: +0.17%
Price: $0.000000
Shares after: 167,391
Date: 22 May 2022
Ownership: Direct
Footnotes: F3

AZZ transaction

COMMON STOCK

Tax liability

Transaction value: $102,842
Shares: -2,368
Change %: -1.4%
Price: $43.43
Shares after: 165,023
Date: 22 May 2022
Ownership: Direct
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

AZZ transaction Derivative

Performance Share Units

Options Exercise

Transaction value: $0
Shares: -26,532
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 22 May 2022
Ownership: Direct
Underlying class: COMMON STOCK
Underlying amount: 26,532
Exercise price
Footnotes: F5, F6, F7, F8

AZZ transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -5,743
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 22 May 2022
Ownership: Direct
Underlying class: COMMON STOCK
Underlying amount: 5,743
Exercise price
Footnotes: F8, F9, F10

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 10 footnotes

Footnote F1

Represent the vesting of dividend equivalent rights that accrued on the target performance share units ("PSUs") of 17,229 granted on 5/22/2019, which AZZ has settled in shares of AZZ common stock.

Footnote F2

The reporting person disposed of 10,942 shares of common stock to satisfy tax withholding obligations.

Footnote F3

Represents the vesting of dividend equivalent rights accrued on 5,743 restricted stock units ("RSUs") granted on 5/22/2019, which AZZ has elected to pay in shares of AZZ common stock.

Footnote F4

The reporting person disposed of 2,368 shares of common stock to satisfy tax withholding obligations.

Footnote F5

Each PSU represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.

Footnote F6

Represents the number of shares acquired by the reporting person upon the vesting of PSUs granted on 5/22/2019. This number represents 17,229 target PSUs and 9,303 additional PSUs earned based upon the achievement of 154% of pre-established performance goals during the performance cycle.

Footnote F7

The PSUs were granted under AZZ's 2014 Long Term Incentive Plan (the "2014 Plan") and had a three-year performance cycle (3/1/2019- 2/28/2022).

Footnote F8

Once vested, the shares of common stock are not subject to expiration.

Footnote F9

Each RSU represents a contingent right to receive one share of AZZ common stock.

Footnote F10

The RSUs were granted under the 2014 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.