Thomas E. Ferguson - Apr 28, 2023 Form 4 Insider Report for AZZ INC (AZZ)

Role
President and CEO, Director
Signature
/s/ Tara D. Mackey, attorney-in-fact for Thomas E. Ferguson
Stock symbol
AZZ
Transactions as of
Apr 28, 2023
Transactions value $
$0
Form type
4
Date filed
5/2/2023, 04:11 PM
Previous filing
Mar 1, 2023
Next filing
May 8, 2023

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 Award $0 +26.9K $0.00 26.9K Apr 28, 2023 COMMON STOCK 26.9K Direct F1, F2, F3
transaction AZZ Performance Share Units Award $0 +26.9K $0.00 26.9K Apr 28, 2023 COMMON STOCK 26.9K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit ("RSU") represents a contingent right to receive one share of AZZ common stock.
F2 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 4/28/2024.
F3 Once vested, the shares of common stock are not subject to expiration.
F4 Each Performance Share Unit ("PSU") represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.
F5 Represents 100% of the target number of PSUs that could be earned at the end of the 3-year performance cycle (March 1, 2023 - February 28, 2026). The FY2024 PSU performance metric is AZZ's Total Shareholder Return ("TSR") relative to its executive compensation peer group. The maximum payout for the FY2024 PSUs is not to exceed 200%.