[Form 4] DYCOM INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

Philip R. Gallagher, a director of Dycom Industries, Inc. (DY), received 381 restricted stock units (RSUs) on 10/07/2025. Each RSU represents the right to one share of common stock and vests in one annual installment on 10/07/2026. The award was granted at $0.00 consideration, meaning no cash was paid for the RSUs. After the grant, Mr. Gallagher beneficially owns 381 shares through these RSUs, held in a direct ownership form. The Form 4 was filed jointly by one reporting person and signed under power of attorney on 10/08/2025.

Positive

• Alignment with shareholders: 381 RSUs vesting in one year strengthens director incentives toward long‑term performance
• No cash outlay: the RSUs were granted at $0.00, indicating standard compensation rather than a purchase

Negative

• Limited economic significance: the grant of 381 shares is small and unlikely to materially change ownership or influence
• Short vesting horizon: vesting in one year concentrates the time for potential change in ownership within a near term

Insights

Corporate Governance Analyst

Director received time‑based equity intended to align long‑term interests with shareholders.

The grant of 381 RSUs is a routine, time‑based equity award that vests in one year on 10/07/2026, creating a direct equity stake tied to future share performance. The award carries $0.00 cash consideration, indicating it is a compensation grant rather than a purchase.

This award modestly increases the director's stake and aligns incentives, but the size (381 shares) is small relative to typical institutional holdings; monitor future disclosures for additional grants, option activity, or clustered insider sales over the next 12 months that could be more material.

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^*

GALLAGHER PHILIP R

(Last) (First) (Middle)

300 BANYAN BLVD

SUITE 1101

(Street)

WEST PALM BEACH FL 33401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DYCOM INDUSTRIES INC [ DY ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

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

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

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

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
Restricted Stock Units(1)	10/07/2025		A		381(2)	A	$0.00(3)	381	D

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

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to acquire one (1) share of Dycom Industries, Inc. common stock, par value $0.33 1/3 per share.

2. The restricted stock units vest in one annual installment on October 7, 2026.

3. No consideration was paid for the restricted stock units.

Remarks:

	/s/ Ryan F. Urness by POA from GALLAGHER, PHILIP R.	10/08/2025
	** 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.

FAQ

What did Dycom (DY) director Philip R. Gallagher receive on 10/07/2025?

He was granted 381 restricted stock units (RSUs) on 10/07/2025; each RSU represents one share of common stock.

When do the RSUs granted to Philip R. Gallagher vest?

The RSUs vest in one annual installment on 10/07/2026.

Did Philip R. Gallagher pay for the RSUs?

No consideration was paid; the award was granted at $0.00.

How many shares does Gallagher beneficially own following the grant?

Following the reported transaction, he beneficially owns 381 RSUs in a direct ownership form.

What is the filing date of the Form 4 reporting this transaction?

The Form 4 was signed by POA on 10/08/2025.