CSW Industrials grants 211 performance rights to VP

WANG FANG reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

WANG FANG reported acquisition or exercise transactions in this Form 4 filing.

CSW INDUSTRIALS, INC. vice president and chief accounting officer Fang Wang received a grant of 211 performance rights tied to the company’s common stock. Each right represents a potential share, depending on future performance.

The grant covers a three-year performance cycle from April 1, 2026 through March 31, 2029. Vesting can range from 0% to 200% based on CSW Industrials’ relative total shareholder return compared with companies in the Russell 2000 Index. The company may settle the award in cash or in shares at its discretion.

Insider Trade Summary

Grant/Award: 211 shares

Grant/Award 1 txn

Insider WANG FANG

Role VP, Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Performance Rights	211	$0.00	$0.00

Holdings After Transaction: Performance Rights — 211 contracts (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Performance rights granted: 211 performance rights Underlying shares: 211 shares of common stock Vesting range: 0% to 200% +3 more

6 metrics

Performance rights granted 211 performance rights Grant to VP, Chief Accounting Officer Fang Wang

Underlying shares 211 shares of common stock Each right represents one potential share

Vesting range 0% to 200% Dependent 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

Exercise price $0.00 per right No exercise cost to the executive

Key Terms

Performance Rights, relative total shareholder return, Russell 2000 Index, three-year performance cycle, +1 more

5 terms

Performance Rights financial

"Each performance right represents 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.

relative total shareholder return financial

"based on the issuer's relative total shareholder return in comparison to the total shareholder return performance among the Russell 2000 Index"

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.

three-year performance cycle financial

"during a three-year performance cycle beginning on April 1, 2026 and ending on March 31, 2029"

settled in cash or shares financial

"The performance rights may be settled, at the issuer's discretion, in cash or shares of common stock."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did CSW (CSW INDUSTRIALS, INC.) report for Fang Wang?

CSW Industrials reported that vice president and chief accounting officer Fang Wang received 211 performance rights. These rights are a form of equity-based compensation that may convert into common shares, depending on the company’s future stock performance over a defined period.

How many performance rights were granted to CSW executive Fang Wang?

Fang Wang was granted 211 performance rights linked to CSW Industrials’ common stock. Each performance right represents a contingent claim on one share, subject to meeting performance goals during a three-year period tied to relative total shareholder return outcomes.

What determines vesting of Fang Wang’s CSW performance rights?

Vesting of the 211 performance rights depends on CSW Industrials’ relative total shareholder return versus the Russell 2000 Index. Over the three-year cycle, vesting can range from 0% to 200%, meaning the final number of shares earned will reflect comparative stock performance.

What is the performance period for CSW’s new performance rights grant?

The performance rights granted to Fang Wang use a three-year performance cycle beginning April 1, 2026 and ending March 31, 2029. During this time, CSW Industrials’ stock returns are measured against the Russell 2000 Index to determine how many rights ultimately vest.

How can CSW Industrials settle the granted performance rights?

CSW Industrials can settle the performance rights in either cash or shares of common stock at its discretion. Each vested performance right corresponds to one share value, but the company chooses whether to deliver that value in stock or an equivalent cash payment.

Do the CSW performance rights have an exercise price or cost to the executive?

The performance rights granted to Fang Wang have a stated price of zero, so there is no exercise cost. Instead, the award’s value depends on how many rights vest based on relative stock performance, and how the company’s share price behaves over the performance period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/09/2026 - 04:05 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^*

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)
04/09/2026

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)	04/09/2026		A		211		(1)	(1)	Common Stock	211	$0	211	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 Fang Wang	04/09/2026
	** 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)