Joseph B. Armes - Oct 2, 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
Oct 2, 2023
Transactions value $
-$612,814
Form type
4
Date filed
10/3/2023, 04:34 PM
Previous filing
Sep 18, 2023
Next filing
Oct 16, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CSWI Common Stock Award $0 +7.06K +13.73% $0.00 58.5K Oct 2, 2023 Direct F1
transaction CSWI Common Stock Tax liability -$613K -3.5K -5.98% $175.24 55K Oct 2, 2023 Direct
holding CSWI Common Stock 1.5K Oct 2, 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
holding CSWI Performance Rights 27.6K Oct 2, 2023 Common Stock 27.6K Direct F2
holding CSWI Restricted Stock Units 19.7K Oct 2, 2023 Common Stock 19.7K Direct F3
holding CSWI Performance Rights 26.2K Oct 2, 2023 Common Stock 26.2K 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 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.
F3 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.
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, 2024, 2025 and 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.