Matrix Service GC gets stock awards, disposes shares
Matrix Service’s VP & General Counsel reported August 2026 restricted stock grants, vesting events, and related tax-withholding share dispositions.
Rhea-AI Filing Summary
MATRIX SERVICE CO (MTRX) reported that its VP & General Counsel, David (James) Miller, had multiple equity compensation events in late August 2026. On August 25, 2026, he received 5,432 Restricted Stock Units and 5,432 shares of Common Stock at no cost in connection with service-based restricted stock awards. On August 27, 29, and 30, 2026, several tranches of Restricted Stock Units vested and were exercised into Common Stock, with corresponding Common Stock dispositions back to the company and share withholdings to cover tax obligations. The company states these Restricted Stock Units are economically equivalent to Common Stock and, for cash-settled awards, are settled solely in cash when vested. No transactions are reported as executed under a Rule 10b5-1 trading plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
6,646 shares exercised/converted
Exercise
18 txns
Insider
MILLER DAVID (JAMES)
Role
VP & General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units F2, F8 | 967 | $0.00 | $0.00 |
| Exercise | Common Stock F2 | 967 | -- | -- |
| Disposition | Common Stock | 967 | $10.83 | $10K |
| Tax Withholding | Common Stock F3 | 380 | $10.83 | $4K |
| Exercise | Restricted Stock Units F2, F7 | 2,370 | $0.00 | $0.00 |
| Exercise | Common Stock F2 | 2,370 | -- | -- |
| Disposition | Common Stock | 2,370 | $10.83 | $26K |
| Tax Withholding | Common Stock F3 | 932 | $10.83 | $10K |
| Exercise | Restricted Stock Units F2, F5 | 1,702 | $0.00 | $0.00 |
| Exercise | Restricted Stock Units F2, F6 | 1,607 | $0.00 | $0.00 |
| Exercise | Common Stock F2 | 1,702 | -- | -- |
| Disposition | Common Stock | 1,702 | $10.91 | $19K |
| Tax Withholding | Common Stock F3 | 669 | $10.91 | $7K |
| Exercise | Common Stock F2 | 1,607 | -- | -- |
| Disposition | Common Stock | 1,607 | $10.91 | $18K |
| Tax Withholding | Common Stock F3 | 632 | $10.91 | $7K |
| Grant/Award | Restricted Stock Units F2, F4 | 5,432 | $0.00 | $0.00 |
| Grant/Award | Common Stock F1 | 5,432 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units — 16,024 contracts (Direct);
Common Stock — 23,366 shares (Direct)
Footnotes (8)
- F1. 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, one-third will vest each year for the next three years on the anniversary dates.
- F2. 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.
- F3. Shares disposed to satisfy tax obligation due on vest date for Stock-Settled Restricted Stock Units.
- F4. 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, one-third will vest each year for the next three years on the anniversary dates.
- F5. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 27, 2025 to August 27, 2028.
- F6. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 27, 2026 to August 27, 2029.
- F7. For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 29, 2024 to August 29, 2027.
- F8. 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
Common Stock grant: 5,432 shares at $0.00 per share
Restricted Stock Unit grant: 5,432 units
RSU exercises: 6,646 units
+3 more
6 metrics
Common Stock grant
5,432 shares at $0.00 per share
Common Stock awarded to David (James) Miller on August 25, 2026
Restricted Stock Unit grant
5,432 units
Restricted Stock Units awarded on August 25, 2026, tied to Common Stock
RSU exercises
6,646 units
Total Restricted Stock Units exercised or vested across late August 2026 transactions
Dispositions at $10.91
1,702 shares plus 1,607 shares
Common Stock returned to issuer on August 27, 2026 at $10.91 per share
Dispositions at $10.83
2,370 shares plus 967 shares
Common Stock returned to issuer on August 29 and 30, 2026 at $10.83 per share
Tax-withholding shares
2,613 shares
Shares withheld for tax obligations across August 27–30, 2026 (669, 632, 932, 380)
Key Terms
Restricted Stock Unit, Cash-Settled Restricted Stock Units, tax obligation, economic equivalent
4 terms
Restricted Stock Unit financial
"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."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Cash-Settled Restricted Stock Units financial
"For this service-based award of Cash-Settled Restricted Stock Units, 25% will vest each year from August 27, 2025 to August 27, 2028."
tax obligation financial
"Shares disposed to satisfy tax obligation due on vest date for Stock-Settled Restricted Stock Units."
economic equivalent financial
"Each Restricted Stock Unit is the economic equivalent of one share of Matrix Service Company Common Stock."
FAQ
What equity awards did MTRX grant to David (James) Miller on August 25, 2026?
On August 25, 2026, David (James) Miller received 5,432 Restricted Stock Units and 5,432 shares of Common Stock at $0.00 per share in connection with service-based restricted stock awards that vest over three years according to the company’s footnotes.
How many Restricted Stock Units for MTRX vested or were exercised in late August 2026?
In late August 2026, Miller exercised or had vesting of tranches of 1,702, 1,607, 2,370, and 967 Restricted Stock Units, each tied to an equivalent number of Matrix Service Company Common Stock shares as described in the filing’s transactions and footnotes.
Are Miller’s MTRX Restricted Stock Units settled in stock or cash?
The company discloses that each Restricted Stock Unit is the economic equivalent of one share of Common Stock and that all Restricted Stock Units are settled solely in cash when vested for the cash-settled awards referenced in the footnotes.
Were Miller’s August 2026 MTRX transactions under a Rule 10b5-1 plan?
No. The filing indicates that no Rule 10b5-1 trading plan is reported for these transactions, meaning the company did not affirm they were executed under a pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
