Joseph B. Armes - 05 Apr 2023 Form 4 Insider Report for CSW INDUSTRIALS, INC. (CSWI)

Role: Chairman, President & CEO, Director
Signature: /s/Luke E. Alverson, Attorney in Fact
Issuer symbol: CSWI
Transactions as of: 05 Apr 2023
Transactions value $: -$1,208,413
Form type: 4
Filing time: 06 Apr 2023, 16:53:24 UTC
Previous filing: 17 Mar 2023
Next filing: 18 Apr 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CSWI	Common Stock	Options Exercise	$0	+22.1K	+40.8%	$0.00	76.3K	05 Apr 2023	Direct
transaction	CSWI	Common Stock	Tax liability	-$1.21M	-8.7K	-11.4%	$138.93	67.6K	05 Apr 2023	Direct
holding	CSWI	Common Stock						1.5K	05 Apr 2023	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
transaction	CSWI	Performance Rights	Options Exercise	$0	-12.3K	-47.31%	$0.00	13.7K	05 Apr 2023	Common Stock	12.3K		Direct	F1
holding	CSWI	Restricted Stock Units						19.7K	05 Apr 2023	Common Stock	19.7K		Direct	F2
holding	CSWI	Performance Rights						27.6K	05 Apr 2023	Common Stock	27.6K		Direct	F3

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

Explanation of Responses:

Id	Content
F1	Each performance right represented a contingent right to receive one share of the issuer's common stock at vesting. The performance rights vested at a rate between 0% and 200% during a three-year performance cycle ending on March 31, 2023 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, along with 220 dividend equivalent units, vested at 176.1% of the target award amount and were settled in shares of common stock pursuant to the award agreement terms.
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.