Joseph B. Armes - May 4, 2023 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
May 4, 2023
Transactions value $
$0
Form type
4
Date filed
5/5/2023, 04:09 PM
Previous filing
Apr 18, 2023
Next filing
May 31, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CSWI Common Stock 66.6K May 4, 2023 Direct
holding CSWI Common Stock 1.5K May 4, 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 Award $0 +12.4K +90.44% $0.00 26.2K May 4, 2023 Common Stock 12.4K Direct F1
holding CSWI Restricted Stock Units 19.7K May 4, 2023 Common Stock 19.7K Direct F2
holding CSWI Performance Rights 27.6K May 4, 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 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 beginning on April 1, 2023 and ending on March 31, 2026 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.
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.