Hershey Mark A 4
4 · ARMSTRONG WORLD INDUSTRIES INC · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Armstrong (AWI) COO Mark Hershey Exercises RSUs (Net 2,216 Shares)
What Happened Mark A. Hershey, Chief Operating Officer of Armstrong World Industries (AWI), had 3,532 restricted stock units (RSUs) convert into common shares on Feb 27, 2026. The RSUs converted at an implied market value of $173.50 per share for a gross value of about $612,802. The company withheld 1,316 shares to cover tax obligations (worth about $228,326), leaving Hershey with a net 2,216 shares (net value ≈ $384,476).
Key Details
- Transaction date: 2026-02-27; Form 4 filed 2026-03-02 (appears timely).
- Conversion: 3,532 RSUs → 3,532 common shares (reported as derivative conversion, code M).
- Tax withholding: 1,316 shares withheld to satisfy withholding obligations (code F).
- Gross value: ~ $612,802; Shares withheld value: ~ $228,326; Net shares retained: 2,216 (~$384,476).
- Footnotes: RSUs convert one-for-one into common stock (F1); withholding was to satisfy tax liabilities on vesting (F2); grant dated March 1, 2023 with 3-year vesting schedule (F3); derivative strike/price $0 (typical for RSUs) (F4).
- Shares owned after transaction: not disclosed in the filing.
Context This was a standard RSU vesting and withholding transaction, not an open-market purchase or sale. The conversion of RSUs (derivative securities with no exercise price) and the withholding of shares to cover taxes is routine for equity compensation and does not by itself indicate the insider's market view.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-02-27$173.50/sh+3,532$612,802→ 58,509 total - Tax Payment
Common Stock
[F2]2026-02-27$173.50/sh−1,316$228,326→ 57,193 total - Exercise/Conversion
Restricted Stock Units
[F1][F4][F3]2026-02-27−3,532→ 0 total→ Common Stock (3,532 underlying)
Footnotes (4)
- [F1]Restricted Stock Units convert into common stock on a one-for-one basis.
- [F2]Represents the number of shares withheld by the Issuer to satisfy the Reporting Person's tax obligations incurred upon the vesting of certain restricted stock units granted to the Reporting Person under the 2022 Equity and Cash Incentive Plan.
- [F3]On March 1, 2023, the Reporting Person was granted 3,532 Restricted Stock Units, which vest on the third anniversary of the grant (contingent upon the Reporting Person's employment with the Issuer on the scheduled vesting date, except as provided for under the Issuer's 2022 Equity and Cash Incentive Plan).
- [F4]Price of Derivative Security is $0.