Grizzle Victor 4

What Happened
Victor Grizzle, CEO and director of Armstrong World Industries (AWI), had 25,744 restricted stock units convert into common shares on February 27, 2026, generating a gross value of $4,466,584 (25,744 × $173.50). To satisfy tax withholding, the issuer withheld 10,337 shares (value $1,793,470), leaving Grizzle with approximately 15,407 net shares (net value ≈ $2,673,114). This was a vesting/conversion event (not an open-market purchase or sale).

Key Details

• Transaction date: February 27, 2026; Form 4 filed March 2, 2026.
• Conversion: 25,744 RSUs → 25,744 common shares, priced at $173.50 per share (gross value $4,466,584).
• Tax withholding: 10,337 shares were withheld by the issuer to satisfy tax obligations (value $1,793,470).
• Net shares received: ~15,407 shares (net value ≈ $2,673,114).
• Footnotes: RSUs convert 1-for-1; the RSUs were originally granted March 1, 2023 and scheduled to vest on the third anniversary; the derivative price is listed as $0, consistent with RSU conversion. The F-code (tax withholding) explains the share-withhold was to cover taxes.
• Shares owned after transaction: not disclosed in this filing.
• Filing timeliness: Form filed March 2, 2026 for the Feb 27 transaction (no late filing indicated in the record).

Context
This transaction reflects routine vesting and tax-withholding of equity compensation rather than an open-market sale or purchase. Withholding shares to cover taxes is common for RSU vesting and does not, by itself, indicate the insider’s view on the company’s stock. The action is effectively a conversion of award units into stock rather than a purchase financed by cash or option exercise with a cash strike.