Executive at CSW INDUSTRIALS, INC. (CSW) awarded 1,808 performance rights

Rhea-AI Filing Summary

UNDERWOOD JEFF reported acquisition or exercise transactions in this Form 4 filing.

CSW INDUSTRIALS, INC. senior vice president Jeff Underwood reported a compensation-related grant of 1,808 performance rights. Each right represents a contingent claim to receive one share of common stock at vesting.

The award vests between 0% and 200% over a three-year performance cycle from April 1, 2026 to March 31, 2029, based on the company’s total shareholder return compared with the Russell 2000 Index. The company may choose to settle the performance rights in cash or in shares of common stock when they vest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider UNDERWOOD JEFF

Role SVP, GM Contractor Solutions

Type	Security	Shares	Price	Value
Grant/Award	Performance Rights	1,808	$0.00	--

Holdings After Transaction: Performance Rights — 1,808 shares (Direct, null)

Footnotes (1)

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Key Figures

Performance rights granted: 1,808 performance rights Underlying common stock: 1,808 shares Vesting range: 0%–200% +2 more

5 metrics

Performance rights granted 1,808 performance rights Grant to SVP Jeff Underwood

Underlying common stock 1,808 shares Each performance right equals one share at vesting

Vesting range 0%–200% Based on relative total shareholder return

Performance period start April 1, 2026 Beginning of three-year performance cycle

Performance period end March 31, 2029 End of three-year performance cycle

Key Terms

Performance Rights, relative total shareholder return, Russell 2000 Index

3 terms

Performance Rights financial

"Each performance right represents a contingent right to receive one share"

Performance rights are conditional awards that give employees or executives the promise of receiving company shares or cash only if the business meets specific targets or survives for a set period. They work like a bonus you only get when certain goals are hit, so they matter to investors because they can increase the number of shares outstanding (dilution), signal management’s incentives and confidence in future results, and affect per-share earnings and valuation.

relative total shareholder return financial

"based on the issuer's relative total shareholder return in comparison"

Relative total shareholder return measures how much an investor’s gain from a company — including stock price changes and dividends — beats or lags a chosen benchmark or peer group over a set time. Think of it as a race: it shows whether the company outpaced rivals or the market, which helps investors and boards judge performance, compare returns fairly, and link results to pay or investment decisions.

Russell 2000 Index financial

"performance among the Russell 2000 Index over the performance cycle"

A stock-market benchmark that tracks about 2,000 small-cap U.S. companies, the Russell 2000 gives a snapshot of how smaller publicly traded firms are performing. Investors use it like a thermometer or yardstick for the small-company segment of the market—funds and portfolio managers compare returns to it, and its movements can signal changes in economic risk appetite or growth expectations; it is weighted so larger small companies have a bigger influence on the index.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

UNDERWOOD JEFF

(Last) (First) (Middle)

5420 LYNDON B. JOHNSON FWY., SUITE 500

(Street)

DALLAS TEXAS 75240

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CSW INDUSTRIALS, INC. [ CSW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, GM Contractor Solutions

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/06/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Rights	(1)	05/06/2026		A		1,808		(1)	(1)	Common Stock	1,808	$0	1,808	D

Explanation of Responses:

1. 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, 2026 and ending on March 31, 2029 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.

Remarks:

	/s/ Luke E. Alverson, Attorney-in-fact for Jeff Underwood	05/07/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did CSW (CSW) executive Jeff Underwood report in this Form 4?

Jeff Underwood reported receiving 1,808 performance rights as part of compensation. Each performance right is a contingent right to one share of CSW Industrials common stock, subject to future vesting conditions tied to relative shareholder returns.

How many performance rights were granted to the CSW (CSW) executive?

The filing shows a grant of 1,808 performance rights. These rights give a contingent claim to the company’s common stock, with the actual number of shares received depending on future performance over a defined three-year cycle.

What determines vesting of the CSW (CSW) performance rights?

Vesting depends on CSW Industrials’ total shareholder return versus the Russell 2000 Index. Over the April 1, 2026 to March 31, 2029 performance cycle, the payout can range from 0% to 200% of the granted performance rights, based on that relative performance.

When is the performance period for the CSW (CSW) performance rights grant?

The performance period runs from April 1, 2026 through March 31, 2029. Results over this three-year window determine how many of the 1,808 granted performance rights ultimately vest, ranging from no vesting to double the target amount.

How can CSW (CSW) settle these performance rights at vesting?

CSW Industrials may settle the performance rights in either cash or shares of common stock. The decision on settlement method is at the company’s discretion when the rights vest, giving flexibility in how compensation is delivered to the executive.

How many performance rights does the CSW (CSW) executive hold after this transaction?

After this grant, the executive is shown holding 1,808 performance rights. These represent potential future delivery of common shares or cash, depending on company performance and the settlement method chosen at the end of the performance cycle.