[Form 4] GMS Inc. Insider Trading Activity

Rhea-AI Filing Summary

GMS Inc. insider transaction: The company reported that William Forrest Bell, VP and Chief Accounting Officer, disposed of 842 shares of GMS common stock on 08/15/2025 in a transaction coded G at a reported price of $0, leaving him with 751 shares beneficially owned. The filing was submitted by a single reporting person and signed by an attorney-in-fact.

Positive

• Timely disclosure of insider transaction fulfilling Section 16 reporting requirements
• Clarity on post-transaction ownership: reporting person retains 751 shares after disposal

Negative

• Reduction in executive ownership by 842 shares, which modestly lowers insider alignment
• Transaction coded G at $0 (likely gift/transfer) provides no cash proceeds and lacks recipient details

Insights

Corporate Governance Expert

TL;DR: Insider gift or related-party disposition of 842 shares reduces executive ownership modestly and should be monitored for context.

The filing shows a coded G disposition of 842 shares at a $0 price, which typically indicates a non-sale transfer such as a gift or transfer to a family trust. Such transfers do not generate proceeds and modestly reduce the officer's direct stake to 751 shares. For governance, the action is not inherently negative but investors may request context on the recipient and intent to assess alignment with shareholder interests.

Securities Analyst

TL;DR: Transaction size appears small relative to a public company; insufficient to alter valuation or signal major change.

The disposal of 842 shares at no cash consideration is unlikely to be material to GMS's financials or market capitalization based on the absolute share count disclosed. The report fulfills Section 16 disclosure requirements and clarifies the reporting person now holds 751 shares directly. Without additional context on timing or beneficiary, this is a routine insider transfer rather than a market-impacting sale.

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
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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^*

Bell William Forrest

(Last) (First) (Middle)

GMS INC.

115 PERIMETER CENTER PLACE, SUITE 600

(Street)

ATLANTA GA 30346

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GMS Inc. [ GMS ]

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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
Common Stock	08/15/2025		G		842	D	$0	751	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:

Remarks:

	/s/ Craig D. Apolinsky, Attorney-in-Fact for William Forrest Bell	08/19/2025
	** 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 William Forrest Bell report on the Form 4 for GMS?

He reported a disposition coded G of 842 shares of GMS common stock on 08/15/2025, leaving him with 751 shares beneficially owned.

What does transaction code G mean on a Form 4?

Code G typically indicates a transfer such as a gift or similar non-sale transaction; the filing shows a price of $0 consistent with a non-sale transfer.

Did the reporting person receive cash from the transaction?

No. The reported price is $0, indicating no cash proceeds from the disposition disclosed on the Form 4.

How many GMS shares does the insider own after the transaction?

The filing states the reporting person beneficially owned 751 shares following the reported transaction.

Was this Form 4 filed by multiple reporting persons?

No. The form indicates it was filed by one reporting person.