Form 4: EXP officer accrues dividend‑equivalent RSUs at $0 per unit

Rhea-AI Filing Summary

Eagle Materials Inc. (EXP) officer William R. Devlin, SVP and Controller, reported dividend‑equivalent restricted stock units tied to a cash dividend. On 10/16/2025, he acquired 0.6631 Restricted Stock Units and separately 0.8291 Restricted Stock Units at $0 per unit. Following these transactions, his reported derivative holdings were 633.2019 RSUs for one award and 791.7244 RSUs for another. These awards reflect DEUs that accrue when the company pays a cash dividend on its common stock and are recorded as derivative securities on Form 4.

Insights

Equity Compensation Analyst

Routine DEU accruals; minimal dilution and no cash impact.

The filing lists dividend equivalent units that accrue automatically when a cash dividend is paid. Two RSU entries were added on 10/16/2025 in small amounts, recorded at $0 per unit, consistent with typical DEU mechanics.

The entries update the officer’s derivative balances to 633.2019 and 791.7244 RSUs for the respective awards. As these are small, administrative adjustments with no sale proceeds, market impact is typically limited.

Actual settlement into common shares depends on the underlying RSU terms. Subsequent filings may provide additional detail if future dividends create more DEUs or when RSUs vest.

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

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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)
10/16/2025

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

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)	10/16/2025		A		0.6631		(1)	(1)	Common Stock	0.6631	$0	633.2019	D
Restricted Stock Units	(2)	10/16/2025		A		0.8291		(2)	(2)	Common Stock	0.8291	$0	791.7244	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	10/20/2025
	** 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 Eagle Materials (EXP) disclose in this Form 4?

An officer reported dividend equivalent Restricted Stock Units (DEUs) credited on 10/16/2025 due to a cash dividend on common stock.

How many RSUs were credited to the reporting person?

Two entries: 0.6631 Restricted Stock Units and 0.8291 Restricted Stock Units, each recorded at $0 per unit.

What are the post-transaction RSU balances?

Reported derivative holdings were 633.2019 RSUs for one award and 791.7244 RSUs for another after these credits.

Who is the reporting person and role at EXP?

The reporting person is William R. Devlin, SVP, Controller of Eagle Materials Inc.

Does this Form 4 involve any sales or cash proceeds?

No. The entries reflect DEUs credited at $0 per unit; there were no sales or proceeds.

Why were DEUs credited on this date?

They accrued in connection with a cash dividend paid by the company on its common stock, as described in the footnotes.