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Dividend equivalent RSUs boost Eagle Materials (NYSE: EXP) director’s equity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

NICOLAIS MICHAEL R reported acquisition or exercise transactions in this Form 4 filing.

Eagle Materials Inc. director Michael R. Nicolais reported an automatic grant of 5.033 dividend equivalent Restricted Stock Units (RSUs) on the company’s common stock. These units accrued in connection with a cash dividend paid on the common shares, rather than through any market purchase.

Following this grant, Nicolais directly holds a total of 3,995.6939 RSUs. Dividend equivalent RSUs increase the size of prior stock-based awards when the company pays cash dividends, aligning director compensation with shareholder returns without involving open-market trading.

Positive

  • None.

Negative

  • None.
Insider NICOLAIS MICHAEL R
Role Director
Type Security Shares Price Value
Grant/Award Restricted Stock Units 5.033 $0.00 --
Holdings After Transaction: Restricted Stock Units — 3,995.694 shares (Direct)
Footnotes (1)
  1. [object Object]
Dividend equivalent RSUs granted 5.033 units Grant on April 13, 2026 as dividend equivalents
RSU holdings after transaction 3,995.6939 units Total Restricted Stock Units directly held after grant
Grant price per RSU $0.00 per unit Compensation-related award, not an open-market purchase
Transaction code A Grant, award, or other acquisition of derivative security
Underlying security Common Stock RSUs settle in Eagle Materials common shares
Restricted Stock Units financial
"Represents dividend equivalent Restricted Stock Units (DEUs) accrued in connection"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalent Restricted Stock Units financial
"Represents dividend equivalent Restricted Stock Units (DEUs) accrued in connection"
Form 4 regulatory
"underlying RSU awards to which the DEUs relate were disclosed in Form 4s"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
cash dividend financial
"accrued in connection with a cash dividend paid by Issuer on its Common Stock"
A cash dividend is a payment made by a company to its shareholders directly in money, usually on a regular schedule. It is a way for investors to receive a portion of the company's profits, similar to earning interest or a bonus for holding the company's stock. Cash dividends provide income to shareholders and can indicate the company's financial health and stability.
Common Stock financial
"cash dividend paid by Issuer on its Common Stock"
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
NICOLAIS MICHAEL R
(Last)(First)(Middle)
5960 BERKSHIRE LN, SUITE 900
(Street)
DALLAS TEXAS 75225
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
EAGLE MATERIALS INC [ EXP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units(1)04/13/2026A5.033 (1) (1)Common Stock5.033$03,995.6939D
Explanation of Responses:
1. Represents dividend equivalent Restricted Stock Units (DEUs) accrued in connection with a cash dividend paid by Issuer on its Common Stock. The underlying RSU awards to which the DEUs relate were disclosed in Form 4s filed on July 28, 2004; August 9, 2005; and July 31, 2006.
/s/ Scott M. Wilson as Attorney-in-Fact for Michael R. Nicolais04/15/2026
** Signature of Reporting PersonDate
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 Michael R. Nicolais report in the Eagle Materials (EXP) Form 4?

He reported an automatic grant of 5.033 dividend equivalent RSUs linked to a cash dividend on Eagle Materials common stock. These units increase his existing restricted stock unit awards rather than reflecting an open-market purchase or sale of shares.

How many Restricted Stock Units did the Eagle Materials (EXP) director receive?

Michael R. Nicolais received 5.033 dividend equivalent Restricted Stock Units on April 13, 2026. These RSUs were credited because Eagle Materials paid a cash dividend on its common stock, increasing the size of his previously granted RSU awards by the same amount.

What are dividend equivalent RSUs (DEUs) in the Eagle Materials (EXP) filing?

Dividend equivalent RSUs are additional restricted stock units credited when the company pays a cash dividend. In this case, 5.033 DEUs were added to prior RSU awards, so the director’s stock-based compensation grows in line with shareholder dividend payments without any separate cash transaction.

Did Michael R. Nicolais buy or sell Eagle Materials (EXP) shares on the market?

No, the filing shows no open-market buy or sell. It reports a grant of 5.033 dividend equivalent RSUs at a stated price of $0.00, reflecting an automatic, compensation-related adjustment rather than a discretionary stock purchase or sale on the public market.

What is Michael R. Nicolais’s RSU position after this Eagle Materials (EXP) transaction?

After the 5.033 dividend equivalent RSU grant, he directly holds 3,995.6939 Restricted Stock Units tied to Eagle Materials common stock. This total represents accumulated stock-based compensation awards, including the newly credited dividend equivalents from the recent cash dividend payment.

What does the Form 4 footnote reveal about earlier Eagle Materials (EXP) RSU awards?

The footnote states these dividend equivalent RSUs relate to underlying RSU awards originally disclosed in Form 4s filed in 2004, 2005, and 2006. That means older equity awards continue to accrue additional RSUs whenever Eagle Materials pays eligible cash dividends on its common stock.