CSW Industrials (CSW) CAO nets stock from performance-based awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

CSW Industrials VP and Chief Accounting Officer Fang Wang exercised performance-based equity awards and increased her shareholdings. She converted 311 Performance Rights into 311 shares of common stock as part of a three-year performance cycle ending on March 31, 2026.

The awards, including 12 dividend equivalent units, vested at 190.7% of the target amount and were settled in common shares. In a related tax-withholding transaction, 174 shares were delivered at $260.34 per share to cover obligations. Following these transactions, Wang directly holds 3,118 common shares and has an additional 888 shares held indirectly through an ESOP.

Insider Trade Summary

311 shares exercised/converted

Mixed 4 txns

Insider WANG FANG

Role VP, Chief Accounting Officer

Type	Security	Shares	Price	Value
Exercise	Performance Rights	311	$0.00	--
Exercise	Common Stock	616	$0.00	--
Tax Withholding	Common Stock	174	$260.34	$45K
holding	Common Stock	--	--	--

Holdings After Transaction: Performance Rights — 0 shares (Direct); Common Stock — 3,292 shares (Direct); Common Stock — 888 shares (Indirect, by ESOP)

Footnotes (1)

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Key Figures

Performance Rights Exercised: 311 rights Common Shares Acquired: 616 shares Shares Withheld for Taxes: 174 shares at $260.34 +4 more

7 metrics

Performance Rights Exercised 311 rights Converted into common stock on April 2, 2026

Common Shares Acquired 616 shares Settlement of performance-based awards on April 2, 2026

Shares Withheld for Taxes 174 shares at $260.34 Tax-withholding disposition of common stock

Direct Holdings After Transactions 3,118 shares Common stock directly owned by Fang Wang

Indirect ESOP Holdings 888 shares Common stock held indirectly through ESOP

Vesting Level 190.7% of target Performance rights and 12 dividend equivalents over three-year cycle

Performance Cycle End March 31, 2026 Three-year performance cycle for performance rights

Key Terms

Performance Rights, dividend equivalent units, relative total shareholder return, Russell 2000 Index, +1 more

5 terms

Performance Rights financial

"Each performance right represented a contingent right to receive one share of the issuer's common stock"

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.

dividend equivalent units financial

"The performance rights, along with 12 dividend equivalent units, vested at 190.7% of the target award amount"

relative total shareholder return financial

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

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

"in comparison to the total shareholder return 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.

ESOP financial

"total shares following transaction 888.0000, nature_of_ownership by ESOP"

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

Form 4 Insider Transactions: What Each Field Means →

04/07/2026 - 05:28 PM

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^*

WANG FANG

(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)
	VP, Chief Accounting Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/02/2026		M		616⁽¹⁾	A	$0	3,292	D
Common Stock	04/02/2026		F		174	D	$260.34	3,118	D
Common Stock								888	I	by ESOP

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Rights	⁽¹⁾	04/02/2026		M			311	⁽¹⁾	⁽¹⁾	Common Stock	311	$0	0	D

Explanation of Responses:

1. 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, 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, along with 12 dividend equivalent units, vested at 190.7% of the target award amount and were settled in shares of common stock pursuant to the award agreement terms.

Remarks:

	/s/ Luke E. Alverson, Attorney-in-Fact for Fang Wang	04/07/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did CSW (CSW) executive Fang Wang report in this Form 4?

Fang Wang reported exercising performance-based equity awards and receiving common shares. She converted 311 Performance Rights into common stock, with related tax withholding, and updated her direct and indirect ownership positions in CSW Industrials shares.

How many CSW Industrials shares did Fang Wang acquire in the latest filing?

Fang Wang acquired 616 shares of CSW Industrials common stock in connection with performance-based awards. These shares reflect vested performance rights and dividend equivalents that settled in stock under the company’s equity compensation arrangements.

How many CSW Industrials shares were withheld for taxes in Fang Wang’s Form 4?

The filing shows 174 CSW Industrials common shares were withheld to satisfy tax obligations. These shares were valued at a transaction price of $260.34 per share and represent a non-market disposition tied to the equity award vesting.

What are Fang Wang’s CSW Industrials shareholdings after these transactions?

After the reported transactions, Fang Wang directly owns 3,118 CSW Industrials common shares. She also has 888 additional shares held indirectly through an employee stock ownership plan (ESOP), as reflected in the indirect ownership section of the filing.

How did CSW performance rights vest for Fang Wang’s award cycle?

Each performance right was a contingent claim to one CSW share, vesting over a three-year period. For the cycle ending March 31, 2026, the performance rights, plus 12 dividend equivalent units, vested at 190.7% of the target award based on relative total shareholder return.