Matrix Service (MTRX) CFO Granted RSUs, Disposes Shares to Cover Taxes
Rhea-AI Filing Summary
Kevin S. Cavanah, VP Finance & CFO of Matrix Service Company (MTRX), reported multiple transactions on 08/27/2025. He was granted 12,035 restricted stock units (RSUs) that convert to one share each upon vesting and are cash-settled, with 25% vesting annually over four years beginning 08/27/2026. He also was granted 4,307 RSUs under a service-based award, with 25% vesting annually from 08/27/2025 to 08/27/2028; those units are cash-settled when vested. To satisfy tax obligations on a stock-settled award, he disposed of 1,597 shares and separately sold 4,307 shares at $15.37 per share. Following the transactions, his reported beneficial ownership in common stock is 189,527 shares.
Positive
- 12,035 RSU grant awarded to the CFO, reinforcing retention through a multi‑year vesting schedule
- 4,307 RSU service award granted with immediate vesting schedule beginning 08/27/2025
- RSUs are cash‑settled where specified, simplifying post‑vesting administration
Negative
- 4,307 shares sold at $15.37, reducing direct shareholdings
- 1,597 shares disposed to satisfy tax obligations on stock‑settled RSUs, further lowering holdings
Insights
TL;DR: CFO received significant time‑vested RSU awards while selling shares to cover taxes; ownership remains material.
The filing shows a compensation-driven issuance of 12,035 and 4,307 RSUs to the CFO, largely cash-settled, indicating ongoing alignment with pay-for-performance and retention via multi-year vesting. The discrete sale of 4,307 shares at $15.37 and surrender of 1,597 shares to cover taxes are routine actions tied to award settlement, not an across‑the‑board cashing out. Post‑transaction beneficial ownership of 189,527 shares remains notable relative to an officer role. No debt, options exercise, or other unusual financing events are disclosed.
TL;DR: Grants follow standard executive compensation mechanics with multi‑year vesting and tax‑satisfaction dispositions.
The structure—25% annual vesting over four years and cash settlement for the RSUs—matches common retention practices. The filing explicitly states cash settlement for certain RSUs and share surrender to meet tax obligations for stock‑settled units, which is administrative and consistent with equity award plans. There are no indications of diversion from plan terms or related‑party transactions. Impact on governance is routine and procedural.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | RESTRICTED STOCK UNITS | 12,035 | $0.00 | -- |
| Exercise | RESTRICTED STOCK UNITS | 4,307 | $0.00 | -- |
| Grant/Award | COMMON STOCK | 12,035 | $0.00 | -- |
| Exercise | COMMON STOCK | 4,307 | $0.00 | -- |
| Disposition | COMMON STOCK | 4,307 | $15.37 | $66K |
| Tax Withholding | COMMON STOCK | 1,597 | $15.37 | $25K |
Footnotes (1)
- RESTRICTED STOCK UNIT - EACH UNIT WILL ENTITLE THE REPORTING PERSON TO ONE SHARE OF MATRIX SERVICE COMPANY COMMON STOCK IF AND WHEN THE CONDITIONS OF THE RESTRICTION HAVE BEEN SATISFIED. FOR THIS GRANT, 25% WILL VEST EACH YEAR FOR THE NEXT FOUR YEARS ON THE ANNIVERSARY DATES. 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. SHARES DISPOSED TO SATISFY TAX OBLIGATION DUE ON VEST DATE FOR STOCK-SETTLED RESTRICTED STOCK UNITS. EACH UNIT WILL ENTITLE THE REPORTING PERSON TO THE CASH EQUIVALENT OF ONE SHARE OF MATRIX SERVICE COMPANY COMMON STOCK IF AND WHEN THE CONDITIONS OF THE RESTRICTION HAVE BEEN SATISFIED. FOR THIS GRANT, 25% WILL VEST EACH YEAR FOR THE NEXT FOUR YEARS ON THE ANNIVERSARY DATES. FOR THIS SERVICE-BASED AWARD OF CASH-SETTLED RESTRICTED STOCK UNITS, 25% WILL VEST EACH YEAR FROM AUGUST 27, 2025 TO AUGUST 27, 2028.
