Eagle Materials (NYSE: EXP) SVP receives dividend equivalent RSUs

Rhea-AI Filing Summary

Eagle Materials Inc. SVP and Controller William R. Devlin reported routine equity accruals tied to dividends rather than open-market trades. On January 12, 2026, he acquired 0.6589 Restricted Stock Units and 0.8239 Restricted Stock Units, both at a price of $0 per unit, as dividend equivalent RSUs connected to cash dividends on the company’s common stock.

After these transactions, one related RSU award reflected 633.8608 Restricted Stock Units beneficially owned, and another reflected 792.5483 Restricted Stock Units, all held directly. The footnotes state these dividend equivalent units accrue in connection with prior RSU awards that were originally disclosed in Form 4 filings dated May 29, 2024 and May 27, 2025.

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

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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^*

Devlin William R

(Last) (First) (Middle)

5960 BERKSHIRE LN, STE 900

(Street)

DALLAS TX 75225

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EAGLE MATERIALS INC [ EXP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/12/2026

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

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
Restricted Stock Units	(1)	01/12/2026		A		0.6589		(1)	(1)	Common Stock	0.6589	$0	633.8608	D
Restricted Stock Units	(2)	01/12/2026		A		0.8239		(2)	(2)	Common Stock	0.8239	$0	792.5483	D

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 award to which the DEUs relate was disclosed in a Form 4 filed on May 29, 2024.

2. Represents dividend equivalent Restricted Stock Units (DEUs) accrued in connection with a cash dividend paid by Issuer on its Common Stock. The underlying RSU award to which the DEUs relate was disclosed in a Form 4 filed on May 27, 2025.

	/s/ Scott M. Wilson as Attorney-in-Fact for William R. Devlin	01/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider activity did Eagle Materials (EXP) report for William R. Devlin?

The report shows that William R. Devlin, SVP and Controller of Eagle Materials Inc., acquired small amounts of Restricted Stock Units on January 12, 2026, all as dividend equivalent RSUs rather than open-market purchases or sales.

How many Restricted Stock Units did Devlin acquire in the latest Eagle Materials Form 4?

Devlin acquired 0.6589 Restricted Stock Units in one transaction and 0.8239 Restricted Stock Units in a second transaction, both recorded on January 12, 2026.

Were the Eagle Materials RSUs acquired by Devlin purchased for cash?

No. Both transactions list a $0 price per unit, indicating the RSUs were dividend equivalent Restricted Stock Units granted in connection with cash dividends on Eagle Materials’ common stock, not cash purchases.

What is Devlin’s RSU balance after the reported Eagle Materials transactions?

Following the transactions, one RSU award shows 633.8608 Restricted Stock Units beneficially owned and another shows 792.5483 Restricted Stock Units, each held directly.

What do the footnotes in this Eagle Materials (EXP) Form 4 explain about the RSUs?

The footnotes state that the reported units are dividend equivalent Restricted Stock Units (DEUs) that accrued due to cash dividends on common stock, and that the underlying RSU awards were originally disclosed in Form 4 filings on May 29, 2024 and May 27, 2025.

Is this Eagle Materials Form 4 a new RSU grant or an adjustment to existing awards?

The transactions represent dividend equivalent RSUs tied to earlier RSU awards, effectively adjusting those existing awards for dividends rather than establishing entirely new, stand-alone grants.