Trex CEO Zambanini sells 500 shares to cover taxes

The 500-share sale was used to satisfy tax obligations from the SAR exercise; no rights remained under that award afterward.

Available on EDGAR 11/09/2026 - 04:29 PM EST Accepted by SEC EDGAR 11/09/2026 - 04:29 PM EST Learn about SEC filing dates

The filer has since corrected this document, so the figures below are the ones originally reported and some of them may have changed. Read the amended Form 4/A for what the company says now.

Rhea-AI Filing Summary

TREX President and CEO Adam Dante Zambanini exercised 2,170 stock appreciation rights on November 5, 2026; settlement issued 1,491 common shares, based on a $56.01 fair market value and a $17.523 SAR grant price. He sold 500 shares on November 9, 2026, at a weighted average $55.84 to satisfy tax obligations from the exercise; sale prices ranged from $55.825 to $55.85. No rights remained under that award after exercise, while he continued to hold rights under other awards.

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, F5	2,170	$0.00	$0.00
Exercise	Common Stock F1	1,491	$56.01	$84K

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: 1 other insider reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (5)

1. 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.
2. F2. The shares were sold to satisfy tax obligations arising from the exercise of the stock appreciation rights reported herein.
3. 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.
4. 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.
5. F5. Following the reported exercise, no stock appreciation rights remain outstanding under this award. The Reporting Person continues to hold stock appreciation rights under other awards previously reported.

Key Figures

Stock appreciation rights exercised: 2,170 rights Common shares issued upon settlement: 1,491 shares SAR grant price: $17.523 per share +4 more

7 metrics

Stock appreciation rights exercised 2,170 rights November 5, 2026

Common shares issued upon settlement 1,491 shares November 5, 2026

SAR grant price $17.523 per share Exercised award

Fair market value $56.01 per share Exercise date, November 5, 2026

Shares sold 500 shares November 9, 2026

Weighted average sale price $55.84 per share November 9, 2026

Sale price range $55.825 to $55.85 per share Multiple transactions

Key Terms

stock appreciation rights, fair market value, SAR grant price, weighted average sale 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 one share"

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.

SAR grant price financial

"SAR grant price of $17.523 per share"

weighted average sale price financial

"weighted average sale price"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TREX shares did its CEO sell, and at what price?

Adam Dante Zambanini, TREX's President and CEO, sold 500 shares on November 9, 2026, at a weighted average price of $55.84. The shares were sold in multiple transactions at prices from $55.825 to $55.85, inclusive, to satisfy tax obligations arising from the SAR exercise. No Rule 10b5-1 plan is reported.

What did TREX's CEO receive for exercising stock appreciation rights?

On November 5, 2026, Adam Dante Zambanini exercised 2,170 stock appreciation rights. Each right entitled him to the excess of the $56.01 fair market value per share over the $17.523 grant price; settlement issued 1,491 common shares. No rights remained under that award, although he continued to hold rights under other awards.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Zambanini Adam Dante

(Last) (First) (Middle)

2500 TREX WAY

C/O TREX COMPANY, INC.

(Street)

WINCHESTER VIRGINIA 22601

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TREX CO INC [ TREX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/05/2026		M		1,491(1)	A	$56.01	236,005	D
Common Stock	11/09/2026		S(2)		500	D	$55.84(3)	235,505	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Right	$17.523	11/05/2026		M			2,170(4)	02/15/2018	02/15/2027	Common Stock	2,170	$0	0(5)	D

Explanation of Responses:

1. 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.

2. The shares were sold to satisfy tax obligations arising from the exercise of the stock appreciation rights reported herein.

3. 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.

4. 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.

5. Following the reported exercise, no stock appreciation rights remain outstanding under this award. The Reporting Person continues to hold stock appreciation rights under other awards previously reported.

	/s/ Amy M. Fernandez by power of attorney	11/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)