SEC Form 4 · accession 0000008947-18-000064
AZZ INC · AZZ
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ken Lavelle
Officer — President & GM - Electrical
Period of report
Apr 27, 2018
Accepted (ET)
May 1, 2018 · 6:02 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000008947
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| COMMON STOCK | Apr 27, 2018 | M | 289 | $0.00 | A | 289 | D | |
| COMMON STOCKF1 | Apr 27, 2018 | M | 2 | $0.00 | A | 291 | D | |
| COMMON STOCKF2 | Apr 27, 2018 | F | 97 | $45.75 | D | 194 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F4,F5 | — | Apr 27, 2018 | M | 289 | D | — | — | COMMON STOCK | 289 | 579 | D |
Explanation of responses
- F1Represents the vesting of dividend equivalent rights accrued on 289 restricted stock units ("RSUs") granted on 8/1/2017, which AZZ has elected to pay in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
- F2The reporting person disposed of 97 shares of common stock to satisfy tax withholding obligations.
- F3Each RSU represents a contingent right to receive one share of AZZ common stock.
- F4The RSUs granted on 8/1/2017, vest over a 3-year period with 1/3rd vesting on 4/27/2018, 4/27/2019 and 4/27/2020.
- F5Once vested, the shares of common stock are not subject to expiration.