Matrix Service (NASDAQ: MTRX) cash-settled RSUs drive share disposals
Rhea-AI Filing Summary
MATRIX SERVICE CO (MTRX) reported a series of Form 4 transactions by Justin D. Sheets, SVP, Enterprise Services, involving cash-settled Restricted Stock Units (RSUs) economically equivalent to common stock. On August 27, 29 and 30, 2026, RSUs covering a total of 10,184 units were exercised or converted into associated common stock entries, while the corresponding RSU derivative entries were reported as disposed. Multiple non-derivative entries show dispositions of common stock back to the issuer at $10.83 and $10.91 per share. Additional Form 4 entries with code F document 3,802 shares delivered or withheld to satisfy tax obligations upon vesting of stock-based awards, as described in the footnotes. All RSUs referenced are stated to be settled solely in cash when vested.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 3,802 shares
Net Sell
16 txns
Insider
SHEETS JUSTIN D
Role
SVP, Enterprise Services
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F1, F6 | 2,576 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 2,576 | -- | -- |
| Disposition | Common Stock | 2,576 | $10.83 | $28K |
| Tax Withholding | Common Stock F2 | 962 | $10.83 | $10K |
| Exercise | Restricted Stock Units F1, F5 | 3,482 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 3,482 | -- | -- |
| Disposition | Common Stock | 3,482 | $10.83 | $38K |
| Tax Withholding | Common Stock F2 | 1,300 | $10.83 | $14K |
| Exercise | Restricted Stock Units F1, F3 | 2,429 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F1, F4 | 1,697 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 2,429 | -- | -- |
| Disposition | Common Stock | 2,429 | $10.91 | $27K |
| Tax Withholding | Common Stock F2 | 907 | $10.91 | $10K |
| Exercise | Common Stock F1 | 1,697 | -- | -- |
| Disposition | Common Stock | 1,697 | $10.91 | $19K |
| Tax Withholding | Common Stock F2 | 633 | $10.91 | $7K |
Holdings After Transaction:
Restricted Stock Units — 13,429 shares (Direct);
Common Stock — 69,474 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
Restricted Stock Units exercised: 10,184 units
Shares delivered or withheld for tax obligations: 3,802 shares
Disposition price per share: $10.83 per share
+3 more
6 metrics
Restricted Stock Units exercised
10,184 units
Total derivative exercises (M/C/X) reported in transaction summary
Shares delivered or withheld for tax obligations
3,802 shares
Code F transactions for payment of tax liability
Disposition price per share
$10.83 per share
Common stock dispositions to issuer and tax-withholding entries
Disposition price per share
$10.91 per share
Common stock dispositions to issuer and tax-withholding entries
RSU tranche vesting schedule (example)
25% per year from August 27, 2025 to August 27, 2028
Service-based award of cash-settled Restricted Stock Units (F3)
RSU tranche vesting schedule (example)
25% per year from August 27, 2026 to August 27, 2029
Service-based award of cash-settled Restricted Stock Units (F4)
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_action": "issuer disposition""
Payment of tax liability by delivering or withholding securities financial
"transaction_code_description": "Payment of tax liability by delivering..."
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 did insider Justin D. Sheets report trading in MTRX on this Form 4?
Justin D. Sheets reported exercises of 10,184 cash-settled Restricted Stock Units economically equivalent to Matrix Service common stock, along with multiple dispositions of common stock to the issuer and share withholdings to cover tax obligations between August 27 and 30, 2026.
What prices are associated with the MTRX common stock dispositions?
Common stock dispositions reported by Justin D. Sheets were recorded at per-share prices of $10.83 and $10.91, in multiple entries coded as dispositions to the issuer and tax-withholding transactions on August 27–30, 2026.
Are the RSUs in this MTRX Form 4 stock-settled or cash-settled?
Footnote F1 states that each Restricted Stock Unit is the economic equivalent of one share of Matrix Service common stock and that all such RSUs are settled solely in cash when vested, even though related entries reference common stock.
Were the MTRX insider transactions reported under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is marked false, indicating it does not affirm that these transactions were executed pursuant to a Rule 10b5-1 trading arrangement in that checkbox field.
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