Trex corrects CEO stock exercise settlement price
No stock appreciation rights remained under the exercised award after settlement.
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Form Type
4/A
Rhea-AI Filing Summary
TREX President and CEO Adam Dante Zambanini’s amendment corrects the settlement price previously reported as $56.01 per share; that amount was the common stock’s fair market value used to calculate settlement. On November 5, 2026, he exercised 2,170 stock appreciation rights at a $17.523 per-share grant price, resulting in 1,491 common shares. On November 9, 2026, he sold 500 shares at a weighted average of $55.84 per share to satisfy taxes arising from the exercise; sale prices ranged from $55.825 to $55.85.
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
3 txns
Insider
Zambanini Adam Dante
Role
President and CEO
Sold
500 shs ($28K)
Approx. gross sale proceeds
$28K
Approx. exercise cost
$38K
Share of Position Sold
0.21%
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F2, F3 | 500 | $55.84 | $28K |
| Exercise | Stock Appreciation Right F4 | 2,170 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 1,491 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Appreciation Right — 0 rights (Direct);
Common Stock — 235,505 shares (Direct)
Holdings Before and After:
Stock Appreciation Right, 2,170 to 0 rights (Direct);
Common Stock, 234,514 to 235,505 shares (Direct)
Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.
Footnotes (4)
- F1. Represents 1,491 shares of common stock issued upon settlement of the exercise of 2,170 stock appreciation rights reported in Table II. The number of shares issued was determined based on the excess of the fair market value of the Issuer's common stock on the exercise date over the SAR grant price.
- F2. The shares were sold to satisfy tax obligations arising from the exercise of the stock appreciation rights reported herein.
- F3. The price reported represents the weighted average sale price. The shares were sold in multiple transactions at prices ranging from $55.825 to $55.85, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, information regarding the number of shares sold at each separate price within the range set forth herein.
- F4. Represents the exercise of 2,170 stock appreciation rights. Each stock appreciation right entitled the Reporting Person, upon exercise, to receive the excess of the fair market value of one share of the Issuer's common stock on the exercise date over the SAR grant price of $17.523 per share. Based on a fair market value of $56.01 per share on the exercise date, the exercise was settled through the issuance of 1,491 shares of common stock, as reported in Table I. Following the exercise, no stock appreciation rights remain outstanding under this award.
Key Figures
Shares sold: 500 shares
Weighted average sale price: $55.84 per share
Stock appreciation rights exercised: 2,170 rights
+3 more
6 metrics
Shares sold
500 shares
November 9, 2026; sold to satisfy tax obligations
Weighted average sale price
$55.84 per share
November 9, 2026
Stock appreciation rights exercised
2,170 rights
November 5, 2026
Grant price
$17.523 per share
Stock appreciation rights exercised November 5, 2026
Common shares issued
1,491 shares
Issued upon settlement of the stock appreciation rights exercise
Fair market value
$56.01 per share
Common stock value used to determine settlement on November 5, 2026
Key Terms
stock appreciation rights, fair market value, weighted average sale price, grant price
4 terms
stock appreciation rights financial
"exercise of 2,170 stock appreciation rights"
Stock appreciation rights (SARs) are a form of employee compensation that give the holder the right to receive the increase in a company's stock price over a set baseline, paid in cash or shares, without having to buy the stock. For investors, SARs matter because they can create future cash outflows or share dilution and signal how a company rewards and motivates executives — similar to giving a bonus tied directly to how well the company’s stock performs.
fair market value financial
"fair market value of the Issuer's common stock"
The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.
weighted average sale price financial
"represents the weighted average sale price"
grant price financial
"SAR grant price of $17.523 per share"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did TREX settle Adam Dante Zambanini’s stock appreciation rights?
On November 5, 2026, he exercised 2,170 stock appreciation rights at a $17.523 per-share grant price, and settlement issued 1,491 common shares. The corrected $56.01 per-share figure was the stock’s fair market value used to calculate settlement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
