Joseph B. Armes - Oct 1, 2021 Form 4 Insider Report for CSW INDUSTRIALS, INC. (CSWI)

Role: Chairman, President & CEO, Director
Signature: /s/Luke E. Alverson, Attorney in Fact
Stock symbol: CSWI
Transactions as of: Oct 1, 2021
Transactions value $: -$782,670
Form type: 4
Date filed: 10/4/2021, 06:34 PM
Previous filing: Sep 16, 2021
Next filing: Oct 18, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CSWI	Common Stock	Award	$0	+6.94K	+11.43%	$0.00	67.7K	Oct 1, 2021	Direct	F1
transaction	CSWI	Common Stock	Tax liability	-$783K	-5.99K	-8.85%	$130.75	61.7K	Oct 1, 2021	Direct
holding	CSWI	Common Stock						9.5K	Oct 1, 2021	JBA Family Partners, L.P.

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
holding	CSWI	Option (right to buy)						42.4K	Oct 1, 2021	Common Stock	42.4K	$25.23	Direct
holding	CSWI	Restricted Stock Units						19.7K	Oct 1, 2021	Common Stock	19.7K		Direct	F2
holding	CSWI	Performance Rights						27.6K	Oct 1, 2021	Common Stock	27.6K		Direct	F3
holding	CSWI	Performance Rights						31.9K	Oct 1, 2021	Common Stock	31.9K		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares of restricted common stock granted to the reporting person pursuant to the issuer's Equity and Incentive Compensation Plan. The shares vest ratably over a three-year period on each annual anniversary of the grant.
F2	Each restricted stock unit represents a contingent right to receive one share of the issuer's common stock at vesting. 40% of the restricted stock units vest no earlier than April 26, 2025 upon the successful recruitment and hiring of a successor Chief Executive Officer; the remaining 60% vest upon the successful first employment anniversary of a successor Chief Executive Officer.
F3	Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vest in three equal amounts, at a rate between 0% and 200%, during three performance cycles ending on each of March 31, 2025, 2026, and 2027 based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.
F4	Each performance right represents a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vest at a rate between 0% and 200% during a three-year performance cycle ending on each of March 31, 2022, 2023 and 2024 based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index over the performance cycle. The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock.