Hershey Mark A 4

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.