Matrix Service (MTRX) Officer Receives RSUs; Sold Shares to Cover Taxes
Rhea-AI Filing Summary
Douglas J. Montalbano, President, Matrix NAC and an officer of Matrix Service Company (MTRX), reported multiple equity-related transactions on 08/27/2025. The Form 4 shows the grant of 7,909 restricted stock units (RSUs) (cash-settled, vesting 25% annually beginning 08/27/2026) and an award of 2,462 RSUs (service-based cash-settled, 25% vesting annually from 08/27/2025 to 08/27/2028). Some shares were sold to satisfy withholding/tax obligations: 2,462 shares sold at $15.37 and 1,058 shares sold at $15.37. After the reported activity, the filing shows 55,843 shares of common stock beneficially owned by the reporting person.
Positive
- Clear disclosure of RSU grant sizes, vesting schedules, and cash settlement terms
- Transactions explained — share disposals explicitly noted as tax withholding to satisfy obligations
- Post-transaction beneficial ownership is reported (55,843 shares), improving transparency
Negative
- No open-market purchase activity—grants are compensation-related rather than investment by the officer
- Cash settlement of RSUs means dilution/economic impact differs from share issuance, which may be less favorable to equity holders
Insights
TL;DR: Officer received time‑vesting RSUs and disposed of shares to cover tax withholding, leaving ~55.8k common shares.
The filing documents compensation-related equity grants rather than open‑market purchases: a 7,909 RSU grant with a four‑year annual vesting schedule and a 2,462 RSU service award with staged vesting from 2025–2028. Dispositions of 2,462 and 1,058 shares at $15.37 are explicitly described as satisfying tax obligations. Reporting shows total beneficial ownership reported as 55,843 shares following these transactions. For investors, this is routine officer compensation and tax‑related share withholding, not an open‑market investment signal.
TL;DR: Compensation committee actions reflected by structured RSU grants; vesting and cash settlement terms are clearly disclosed.
The Form 4 provides clear disclosure of the nature and settlement terms of the awards: RSUs are cash‑settled and are described as economic equivalents of common shares, with specified vesting anniversaries and settlement windows. The filing identifies the reporting person’s role as President, Matrix NAC, aligning the grants with executive compensation practices. Disposals to satisfy tax withholding are noted, and the Form includes post‑transaction beneficial ownership figures for transparency.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | RESTRICTED STOCK UNITS | 7,909 | $0.00 | -- |
| Exercise | RESTRICTED STOCK UNITS | 2,462 | $0.00 | -- |
| Grant/Award | COMMON STOCK | 7,909 | $0.00 | -- |
| Exercise | COMMON STOCK | 2,462 | $0.00 | -- |
| Disposition | COMMON STOCK | 2,462 | $15.37 | $38K |
| Tax Withholding | COMMON STOCK | 1,058 | $15.37 | $16K |
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.
