[Form 4] CSW INDUSTRIALS, INC. Insider Trading Activity

Rhea-AI Filing Summary

CSW INDUSTRIALS, INC. EVP and CFO James E. Perry exercised equity awards and settled related taxes using shares. He exercised 3,037 performance rights, each converting into one share of common stock, and a related entry shows 5,870 common shares tied to derivative exercise activity.

To cover tax obligations, 2,321 common shares were withheld at $260.34 per share in a tax-withholding disposition, rather than an open-market sale. Following these transactions, Perry holds 27,753 common shares directly and 523 shares indirectly through an ESOP.

The footnote explains that the performance rights vested over a three-year period ending March 31, 2026 based on relative total shareholder return versus the Russell 2000 Index, vesting at 190.7% of the target award, including 41 dividend equivalent units.

Insights

Equity compensation analyst

Routine equity award vesting with tax withholding; neutral signal.

The CSW INDUSTRIALS, INC. EVP and CFO exercised 3,037 performance rights, which converted into common stock after a three-year performance cycle tied to relative total shareholder return versus the Russell 2000 Index. The award ultimately vested at 190.7% of its target level, including 41 dividend equivalent units settled in shares.

A separate Form 4 entry shows 2,321 common shares withheld at $260.34 per share to satisfy tax obligations, coded as a tax-withholding disposition rather than an open-market sale. After these events, the executive directly holds 27,753 shares and indirectly holds 523 shares via an ESOP, indicating this is a compensation-related, largely mechanical transaction rather than a discretionary buy or sell.

Insider Trade Summary

Net Buyer: 3,549 shares

Net Buy 4 txns

Insider Perry James E

Role EVP, CFO

Type	Security	Shares	Price	Value
Exercise	Performance Rights	3,037	$0.00	$0.00
Exercise	Common Stock	5,870	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	2,321	$260.34	$604K
holding	Common Stock	--	--	--

Holdings After Transaction: Performance Rights — 0 shares (Direct); Common Stock — 27,753 shares (Direct); Common Stock — 523 shares (Indirect, by ESOP)

Footnotes (1)

1. F1. 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 41 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.

Key Figures

Performance rights exercised: 3,037 rights/shares Tax-withheld shares: 2,321 shares at $260.34 Direct holdings after transaction: 27,753 shares +3 more

6 metrics

Performance rights exercised 3,037 rights/shares Exercised into common stock on 2026-04-02

Tax-withheld shares 2,321 shares at $260.34 Shares withheld to satisfy tax liability

Direct holdings after transaction 27,753 shares Common stock directly owned after 2026-04-02

Indirect ESOP holdings 523 shares Common stock held indirectly by ESOP

Vesting performance factor 190.7% of target Performance rights vesting relative to target award

Dividend equivalent units 41 units Units vested and settled in shares

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 at vesting."

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 41 dividend equivalent units, vested at 190.7% of the target award amount"

Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.

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": "523.0000", "direct_or_indirect": "I", "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.

FAQ

What did CSW Industrials (CSW) CFO James E. Perry do in this Form 4?

He exercised performance-based equity awards converting into 3,037 common shares, then had 2,321 shares withheld to cover taxes. These actions are compensation-related, not open-market buying or selling of CSW Industrials stock.

How many CSW Industrials (CSW) shares does the CFO hold after these transactions?

After the reported activity, the CFO directly holds 27,753 common shares and indirectly holds 523 shares through an ESOP. These holdings reflect his remaining equity stake following the award vesting and associated tax-withholding share disposition.

What are the performance rights reported in the CSW Industrials (CSW) Form 4?

Each performance right was a contingent right to receive one CSW Industrials common share at vesting. The rights vested over three years based on relative total shareholder return versus the Russell 2000 Index and ultimately paid out at 190.7% of target, including dividend equivalents.

Why were 2,321 CSW Industrials (CSW) shares disposed of at $260.34 in this filing?

The 2,321 shares shown at $260.34 per share were withheld to pay tax liabilities related to the award vesting. This is coded as a tax-withholding disposition, not an open-market sale by the CSW Industrials CFO on the stock market.

How was CSW Industrials (CSW) performance measured for these awards?

The performance rights vested over a three-year period ending March 31, 2026 based on CSW Industrials’ relative total shareholder return. That return was compared with companies in the Russell 2000 Index, leading to vesting at 190.7% of the target award level.

What are dividend equivalent units mentioned in the CSW Industrials (CSW) Form 4?

Dividend equivalent units mimic dividends that would have been paid on unvested awards. Here, 41 dividend equivalent units accrued alongside the performance rights and vested on the same terms, then were settled in additional CSW Industrials common shares at vesting.

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Accepted by SEC EDGAR 04/07/2026 - 05:29 PM Learn about SEC filing dates

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^*

Perry James E

(Last) (First) (Middle)

5420 LBJ FREEWAY, STE 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)
	EVP, CFO

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/02/2026		M		5,870(1)	A	$0	30,074	D
Common Stock	04/02/2026		F		2,321	D	$260.34	27,753	D
Common Stock								523	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Rights	(1)	04/02/2026		M			3,037	(1)	(1)	Common Stock	3,037	$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 41 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 James E. Perry	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)