Matrix Service (NASDAQ: MTRX) CFO reports cash-settled RSUs, tax-share trades
Rhea-AI Filing Summary
MATRIX SERVICE CO (MTRX) reported multiple equity-related transactions by VP Finance & CFO Kevin S. Cavanah over August 27–30, 2026. He exercised derivative awards covering 18,061 Restricted Stock Units economically equivalent to common stock, with corresponding common stock entries acquired and then disposed to the issuer. Footnotes state these Restricted Stock Units are cash-settled and vest in 25% annual installments beginning between August 2023 and August 2026. In related code F transactions, a total of 6,299 common shares were delivered or withheld at prices of $10.83 and $10.91 per share for payment of tax liabilities on vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 6,299 shares
Net Sell
16 txns
Insider
Cavanah Kevin S
Role
VP Finance & CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F6 | 4,569 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 4,569 | -- | -- |
| Disposition | Common Stock | 4,569 | $10.83 | $49K |
| Tax Withholding | Common Stock F2 | 1,576 | $10.83 | $17K |
| Exercise | Restricted Stock Units F1, F5 | 6,176 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 6,176 | -- | -- |
| Disposition | Common Stock | 6,176 | $10.83 | $67K |
| Tax Withholding | Common Stock F2 | 2,130 | $10.83 | $23K |
| Exercise | Restricted Stock Units F1, F3 | 4,307 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F4 | 3,009 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 4,307 | -- | -- |
| Disposition | Common Stock | 4,307 | $10.91 | $47K |
| Tax Withholding | Common Stock F2 | 1,485 | $10.91 | $16K |
| Exercise | Common Stock F1 | 3,009 | -- | -- |
| Disposition | Common Stock | 3,009 | $10.91 | $33K |
| Tax Withholding | Common Stock F2 | 1,108 | $10.91 | $12K |
Holdings After Transaction:
Restricted Stock Units — 23,815 shares (Direct);
Common Stock — 80,814 shares (Direct)
Footnotes (6)
- F1. Each Restricted Stock Unit is the economic equivalent of one share of Matrix Service Company Common Stock. All Restricted Stock Units are settled solely in Cash when vested.
- F2. Shares disposed to satisfy tax obligation due on vest date for Stock-Settled Restricted Stock Units.
- F3. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 27, 2025 to August 27, 2028.
- F4. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 27, 2026 to August 27, 2029.
- F5. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 29, 2024 to August 29, 2027.
- F6. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 30, 2023 to August 30, 2026.
Key Figures
Derivative exercises (Restricted Stock Units): 18,061 units
Shares delivered or withheld for tax liability: 6,299 shares
Common Stock disposition price: $10.83 per share
+5 more
8 metrics
Derivative exercises (Restricted Stock Units)
18,061 units
Total exerciseShares in August 27–30, 2026 transactions
Shares delivered or withheld for tax liability
6,299 shares
exercisePriceOrTaxLiabilityShares in code F transactions
Common Stock disposition price
$10.83 per share
Code D and F transactions on August 29–30, 2026
Common Stock disposition price
$10.91 per share
Code D and F transactions on August 27, 2026
RSU tranche vesting schedule (F3)
25% per year August 27, 2025–August 27, 2028
Service-based Cash-Settled Restricted Stock Units
RSU tranche vesting schedule (F4)
25% per year August 27, 2026–August 27, 2029
Service-based Cash-Settled Restricted Stock Units
RSU tranche vesting schedule (F5)
25% per year August 29, 2024–August 29, 2027
Service-based Cash-Settled Restricted Stock Units
RSU tranche vesting schedule (F6)
25% per year August 30, 2023–August 30, 2026
Service-based Cash-Settled Restricted Stock Units
Key Terms
Restricted Stock Units, Cash-Settled Restricted Stock Units, Disposition to issuer, Payment of tax liability by delivering or withholding securities, +1 more
5 terms
Restricted Stock Units financial
"Each Restricted Stock Unit is the economic equivalent of one share"
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.
Cash-Settled Restricted Stock Units financial
"For this service-based award of Cash-Settled Restricted Stock Units"
Disposition to issuer financial
"transaction_code_description":"Disposition to issuer"
Payment of tax liability by delivering or withholding securities financial
"transaction_code_description":"Payment of tax liability by delivering or withholding"
Rule 10b5-1 regulatory
"aff_10b5_one is the filing's document-level Rule 10b5-1 checkbox"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
What insider transactions did MTRX CFO Kevin S. Cavanah report on this Form 4?
He reported exercises of derivative awards covering 18,061 Restricted Stock Units economically equivalent to Matrix Service Company common stock between August 27–30, 2026, with related acquisitions and dispositions of common stock and shares delivered or withheld to cover tax liabilities.
How many Matrix Service (MTRX) Restricted Stock Units were involved in the August 2026 transactions?
The filing shows derivative exercises of 18,061 Restricted Stock Units in total, reported as three groups of 4,569, 6,176, and 7,316 units over August 27–30, 2026, each unit being the economic equivalent of one share of common stock.
Are the Restricted Stock Units in this MTRX Form 4 settled in stock or cash?
A footnote states that each Restricted Stock Unit is the economic equivalent of one share of Matrix Service Company common stock, and that all Restricted Stock Units are settled solely in cash when vested, even though they are reported with underlying common stock equivalents.
Were the August 2026 MTRX insider transactions under a Rule 10b5-1 plan?
The filing indicates the Rule 10b5-1 checkbox is not checked (aff_10b5_one is false), and the footnotes do not state that the transactions were effected pursuant to a Rule 10b5-1 trading plan.
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