MATTHEW VARLEY EMERY - 04 May 2023 Form 4 Insider Report for AZZ INC (AZZ)

Role
Chief Information & HR Officer
Signature
/s/ Tara D. Mackey, attorney-in-fact for Matthew V. Emery
Issuer symbol
AZZ
Transactions as of
04 May 2023
Net transactions value
-$64,251
Form type
4
Filing time
08 May 2023, 19:01:39 UTC
Previous filing
02 May 2023
Next filing
11 May 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $0 +1,511 +7.2% $0.000000 22,456 04 May 2023 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +72 +0.32% $0.000000 22,528 04 May 2023 Direct F1
transaction AZZ COMMON STOCK Tax liability $18,041 -497 -2.2% $36.30 22,031 04 May 2023 Direct F2
transaction AZZ COMMON STOCK Options Exercise $0 +895 +4.1% $0.000000 22,926 04 May 2023 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +23 +0.1% $0.000000 22,949 04 May 2023 Direct F3
transaction AZZ COMMON STOCK Tax liability $10,454 -288 -1.3% $36.30 22,661 04 May 2023 Direct F2
transaction AZZ COMMON STOCK Options Exercise $0 +2,990 +13% $0.000000 25,651 04 May 2023 Direct F4
transaction AZZ COMMON STOCK Options Exercise $0 +143 +0.56% $0.000000 25,794 04 May 2023 Direct F5
transaction AZZ COMMON STOCK Tax liability $35,756 -985 -3.8% $36.30 24,809 04 May 2023 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 -1,511 -100% $0.000000* 0 04 May 2023 COMMON STOCK 1,511 Direct F6, F7, F8
transaction AZZ Restricted Stock Units Options Exercise $0 -895 -100% $0.000000* 0 04 May 2023 COMMON STOCK 895 Direct F6, F8, F9
transaction AZZ Performance Share Units Options Exercise $0 -2,990 -100% $0.000000* 0 04 May 2023 COMMON STOCK 2,990 Direct F8, F10, F11
* 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 on restricted stock units (RSUs) granted on 5/4/2020, which AZZ has elected to pay in shares of AZZ common stock.
F2 The reporting person disposed of common stock to satisfy tax withholding obligations.
F3 Represents the vesting of dividend equivalent rights on RSUs granted on 5/4/2021, which AZZ has elected to pay in shares of AZZ common stock.
F4 This number represents the number of shares issued to the Reporting Person based upon the achievement of 66% of the pre-established performance goals over the three-year performance cycle. This target PSU award was previously granted on 5/4/2020.
F5 Represents the vesting of dividend equivalent rights on performance share units (PSUs) granted on 5/4/2020, which AZZ has elected to pay in shares of AZZ common stock.
F6 Each RSU represents a contingent right to receive one share of AZZ common stock.
F7 The RSUs granted on 5/4/2020, vest ratably over a 3-year period beginning on 5/4/2021.
F8 Once vested, the shares of common stock are not subject to expiration.
F9 The RSUs granted on 5/4/2021, vest ratably over a 3-year period beginning on 5/4/2022.
F10 Each PSU represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.
F11 The PSUs were granted under AZZ's 2014 Long Term Incentive Plan (the "2014 Plan") and had a three-year performance cycle (3/1/2020 - 2/28/2023).