AZZ executive equity vests; shares withheld for taxes
AZZ INC executive Jeffrey Vellines, President and COO of Precoat Metals, reported multiple equity compensation events.
Rhea-AI Filing Summary
AZZ INC executive Jeffrey Vellines, President and COO of Precoat Metals, reported multiple equity compensation events. He acquired AZZ common stock through the vesting and conversion of performance share units (PSUs) and restricted stock units (RSUs), and some of the resulting shares were withheld to cover tax obligations.
The filing shows 6,834 shares of common stock acquired from PSU and RSU vesting, tied to earlier grants where performance reached 184% of pre-set metrics, and 3,121 shares of common stock disposed of at around $141–$145 per share to satisfy tax withholding. Following the latest reported transaction, he directly holds 6,032 AZZ common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,834 shares exercised/converted
Exercise
14 txns
Insider
Vellines Jeffrey
Role
Pres & COO - Precoat Metals
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 936 | $0.00 | $0.00 |
| Exercise | Performance Share Units | 5,164 | $0.00 | $0.00 |
| Exercise | COMMON STOCK | 936 | $0.00 | $0.00 |
| Exercise | COMMON STOCK | 23 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | COMMON STOCK | 427 | $141.58 | $60K |
| Exercise | COMMON STOCK | 5,164 | $0.00 | $0.00 |
| Exercise | COMMON STOCK | 131 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | COMMON STOCK | 2,363 | $141.58 | $335K |
| Grant/Award | Restricted Stock Units | 1,818 | $0.00 | $0.00 |
| Grant/Award | Performance Share Units | 1,818 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units | 734 | $0.00 | $0.00 |
| Exercise | COMMON STOCK | 734 | $0.00 | $0.00 |
| Exercise | COMMON STOCK | 9 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | COMMON STOCK | 331 | $144.78 | $48K |
Holdings After Transaction:
Restricted Stock Units — 2,552 contracts (Direct);
Performance Share Units — 1,818 contracts (Direct);
COMMON STOCK — 6,032 shares (Direct)
Footnotes (13)
- F1. Reflects the vesting of dividend equivalent rights that accrued on 734 restricted stock units (RSUs) granted on , which AZ4/25/2024Z has settled in shares of AZZ common stock.
- F2. The reporting person disposed of shares of common stock to satisfy tax withholding obligations.
- F3. Reflects the vesting of dividend equivalent rights that accrued on 936 restricted stock units (RSUs) granted on 4/28/2023, which AZZ has settled in shares of AZZ common stock.
- F4. Represents the vesting of dividend equivalent rights that accrued on the target performance share units (PSUs) of 2,807 granted on 4/28/2023, which AZZ has settled in shares of AZZ common stock.
- F5. Each RSU represents a contingent right to receive one share of AZZ common stock.
- F6. The RSUs were granted on 4/25/2024 under AZZs 2023 Long-Term Incentive Plan and vest ratably over a 3-year period beginning on 4/25/2025.
- F7. Once vested, the shares of common stock are not subject to expiration.
- F8. The RSUs were granted on 4/28/2023 under AZZs 2014 Long-Term Incentive Plan and vested ratably over a 3-year period which began on 4/28/2024.
- F9. Each PSU represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results at the end of the 3-year performance cycle.
- F10. Represents the number of shares acquired by the reporting person upon the vesting of PSUs granted on 4/28/2023. This number represents 2,807 target PSUs and 2,357 additional PSUs earned based on the achievement of 184% of pre-established performance metric during the performance cycle.
- F11. The PSUs granted on 4/28/2023 were awarded under AZZs 2014 Long Term Incentive Plan and had a 3-year performance cycle (3/1/2023 to 2/28/2026)
- F12. The RSUs granted on 4/27/2026 under AZZs 2023 Long-Term Incentive Plan as part of the Issuers annual equity award process were awarded and will vest ratably over a 3-year period beginning on 4/27/2027.
- F13. The PSUs granted on 4/27/2026 were awarded under AZZ's 2023 Long Term Incentive Plan as part of the Issuer's annual equity award process. The PSUs represent 100% of the target number of PSUs that could be earned by the Reporting Person at the end of the 3-year performance cycle, which runs from March 1, 2026 to February 28, 2029. The FY2027 PSU performance metrics are AZZ's Total Shareholder Return relative to its executive compensation peer group and Return on Invested Capital. The maximum payout for the FY2027 PSUs shall not to exceed 200% of the target award.
Key Figures
PSU shares vested: 5,164 shares
RSU shares vested (936 grant): 936 shares
RSU shares vested (734 grant): 734 shares
+5 more
8 metrics
PSU shares vested
5,164 shares
Common stock acquired from PSUs granted 4/28/2023, based on 184% metric
RSU shares vested (936 grant)
936 shares
Common stock from RSUs granted 4/28/2023 and settled in shares
RSU shares vested (734 grant)
734 shares
Common stock from RSUs granted 4/25/2024 with dividend equivalents
Shares withheld for taxes
3,121 shares
Form 4 code F tax-withholding dispositions of common stock
Tax-withholding price
$141.58/share
Common stock disposed to cover tax obligations on 4/28/2026
Tax-withholding price
$144.78/share
Common stock disposed to cover tax obligations on 4/25/2026
New PSUs granted
1,818 units
Performance share units granted 4/27/2026 under 2023 Long-Term Incentive Plan
New RSUs granted
1,818 units
Restricted stock units granted 4/27/2026 vesting over three years
Key Terms
Restricted Stock Units, Performance Share Units, dividend equivalent rights, tax withholding obligations, +2 more
6 terms
Restricted Stock Units financial
"Each RSU represents a contingent right to receive one share of AZZ common stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalent rights financial
"Reflects the vesting of dividend equivalent rights that accrued on 936 restricted stock units"
Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.
tax withholding obligations financial
"The reporting person disposed of shares of common stock to satisfy tax withholding obligations."
Long-Term Incentive Plan financial
"The RSUs were granted on 4/25/2024 under AZZs 2023 Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did AZZ (AZZ) executive Jeffrey Vellines report in this Form 4?
Jeffrey Vellines reported equity compensation activity, including vesting of performance share units and restricted stock units into AZZ common stock, and related share dispositions used to cover tax-withholding obligations. These are compensation and tax events, not open-market stock purchases or sales.
Did Jeffrey Vellines receive new AZZ performance and restricted stock unit awards?
Yes. He was granted 1,818 performance share units and 1,818 restricted stock units under AZZ’s 2023 Long-Term Incentive Plan. These awards vest ratably over three years beginning in 2027 and can ultimately settle in shares of AZZ common stock if conditions are met.
AI-generated analysis. How Rhea-AI works. Not financial advice.
