Victor Grizzle - Dec 28, 2023 Form 4 Insider Report for ARMSTRONG WORLD INDUSTRIES INC (AWI)

Role
CEO, Director
Signature
/s/ Alan M. Kidd, Attorney-in-fact
Stock symbol
AWI
Transactions as of
Dec 28, 2023
Transactions value $
-$1,188,013
Form type
4
Date filed
12/29/2023, 04:32 PM
Previous filing
Dec 18, 2023
Next filing
Feb 16, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AWI Common Stock Options Exercise $1.08M +22.9K +6.89% $47.17 355K Dec 28, 2023 Direct F1
transaction AWI Common Stock Sale -$2.27M -22.9K -6.45% $99.02 332K Dec 28, 2023 Direct F1, 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 AWI Stock Options (Right to Buy) Options Exercise $0 -22.9K -100% $0.00* 0 Dec 28, 2023 Common Stock 22.9K $47.17 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Options exercised and shares sold pursuant to a 10b5-1 Plan adopted by the reporting person on August 31, 2023. Options exercised had a ten year exercise term limit and were scheduled to expire on February 25, 2024, as reflected in this Form 4.
F2 The price reported is a weighted average price. These shares were sold in multiple transactions at per share prices ranging from $98.635 to $99.35. The reporting person undertakes to provide upon request to the SEC staff, the Issuer, or any stockholder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3 The stock options were granted on February 25, 2014. Grant has a graded vesting schedule. Date exercisable will vary for each vesting tranche. All options are currently vested and exercisable.