Tara D. Mackey - May 4, 2023 Form 4 Insider Report for AZZ INC (AZZ)

Role
Chief Legal Officer
Signature
Tara D Mackey
Stock symbol
AZZ
Transactions as of
May 4, 2023
Transactions value $
-$76,956
Form type
4
Date filed
5/8/2023, 07:02 PM
Previous filing
May 2, 2023
Next filing
May 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AZZ COMMON STOCK Options Exercise $0 +1.81K +8.33% $0.00 23.6K May 4, 2023 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +87 +0.37% $0.00 23.7K May 4, 2023 Direct F1
transaction AZZ COMMON STOCK Tax liability -$21.7K -597 -2.52% $36.30 23.1K May 4, 2023 Direct F2
transaction AZZ COMMON STOCK Options Exercise $0 +1.03K +4.47% $0.00 24.1K May 4, 2023 Direct
transaction AZZ COMMON STOCK Options Exercise $0 +26 +0.11% $0.00 24.1K May 4, 2023 Direct F3
transaction AZZ COMMON STOCK Tax liability -$12K -331 -1.37% $36.30 23.8K May 4, 2023 Direct F2
transaction AZZ COMMON STOCK Options Exercise $0 +3.59K +15.07% $0.00 27.4K May 4, 2023 Direct F4
transaction AZZ COMMON STOCK Options Exercise $0 +172 +0.63% $0.00 27.6K May 4, 2023 Direct F5
transaction AZZ COMMON STOCK Tax liability -$43.3K -1.19K -4.32% $36.30 26.4K May 4, 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 -1.81K -100% $0.00* 0 May 4, 2023 COMMON STOCK 1.81K Direct F6, F7, F8
transaction AZZ Restricted Stock Units Options Exercise $0 -1.03K -100% $0.00* 0 May 4, 2023 COMMON STOCK 1.03K Direct F8, F9, F10
transaction AZZ Performance Share Units Options Exercise $0 -3.59K -49.25% $0.00 3.7K May 4, 2023 COMMON STOCK 3.59K Direct F8, F11, F12
* 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 Represent the vesting of divedend 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 Each RSU represents a contingent right to receive one share of AZZ common stock.
F10 The RSUs granted on 5/4/2021, vest ratably over a 3-year period beginning on 5/4/2022.
F11 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.
F12 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).