4//SEC Filing
AZZ INC 4
Accession 0000008947-17-000062
$AZZCIK 0000008947operating
Filed
Apr 30, 8:00 PM ET
Accepted
May 1, 7:54 PM ET
Size
20.4 KB
Accession
0000008947-17-000062
Insider Transaction Report
Form 4
AZZ INCAZZ
Pendley Timothy E
VP GALVANIZING
Transactions
- Tax Payment
COMMON STOCK
2017-04-27$60.20/sh−381$22,936→ 33,926 total - Award
Performance Share Units
2017-04-27+1,868→ 1,868 total→ COMMON STOCK (1,868 underlying) - Exercise/Conversion
COMMON STOCK
2017-04-27+776→ 33,635 total - Exercise/Conversion
COMMON STOCK
2017-04-27+5→ 34,307 total - Award
Restricted Stock Units
2017-04-27+1,868→ 1,869 total→ COMMON STOCK (1,868 underlying) - Exercise/Conversion
COMMON STOCK
2017-04-27+652→ 34,287 total - Exercise/Conversion
COMMON STOCK
2017-04-27+15→ 34,302 total - Exercise/Conversion
Restricted Stock Units
2017-04-27−776→ 776 total→ COMMON STOCK (776 underlying) - Exercise/Conversion
Restricted Stock Units
2017-04-27−652→ 1,305 total→ COMMON STOCK (652 underlying)
Footnotes (10)
- [F1]Represents the vesting of dividend equivalent rights accrued on 776 restricted stock units ("RSUs") granted on 4/27/2015, which AZZ has elected to pay in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
- [F10]The RSUs are granted under AZZ's 2014 Plan and vest over a 3-year period with 1/3rd of the RSUs vesting on each of the first, second and third anniversaries of the grant date beginning on 4/27/2018.
- [F2]Represents the vesting of dividend equivalent rights accrued on 652 RSUs granted on 4/27/2016, which AZZ has elected to pay in shares of AZZ common stock. These dividend equivalent rights vest when, and if, the underlying RSUs vest.
- [F3]The reporting person disposed of 381 shares of common stock to satisfy tax withholding obligations.
- [F4]Each RSU represents a contingent right to receive one share of AZZ common stock.
- [F5]The RSUs granted on 4/27/2015, vest ratably over a 3-year period beginning on 4/27/2016.
- [F6]Once vested, the shares of common stock are not subject to expiration.
- [F7]The RSUs granted on 4/27/2016, vest ratably over a 3-year period beginning on 4/27/2017.
- [F8]Each Performance Share Unit ("PSU") represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.
- [F9]The PSUs are issued under AZZ's 2014 Long Term Incentive Plan (the "2014 Plan"). The PSUs will vest and become payable, if at all, on the third anniversary from the date of grant, ranging from 0% to 200% based on AZZ achieving a target average adjusted return on assets from March 1, 2017 to February 28, 2020. Actual payout will be subject to a multiplier up to a maximum of 250% of the target award if AZZ's total shareholder return for the 3-year period ranks within the top quartile relative to each company in a custom industry peer group for the same period.
Documents
Issuer
AZZ INC
CIK 0000008947
Entity typeoperating
IncorporatedTX
Related Parties
1- filerCIK 0000008947
Filing Metadata
- Form type
- 4
- Filed
- Apr 30, 8:00 PM ET
- Accepted
- May 1, 7:54 PM ET
- Size
- 20.4 KB