Hershey Mark A 4

What Happened
Mark A. Hershey, President & CEO of Armstrong World Industries (AWI), had 13,423 performance restricted stock units (PRSUs) convert into 13,423 shares of AWI common stock on April 8, 2026 (no exercise price). To satisfy tax withholding, 5,839 of those shares were withheld by the company, a disposition valued at $172.77 per share totaling $1,008,804. The conversion followed certification of the performance metrics for the PRSUs.

Key Details

• Transaction date: April 8, 2026; Form 4 filed April 10, 2026 (filed within the 2‑business‑day reporting window).
• Conversions/Acquisitions: 13,423 PRSUs converted to 13,423 shares (reported as derivative conversion, code M) at $0.00 exercise price.
• Withholding/Disposition: 5,839 shares withheld to satisfy tax obligations (code F) at $172.77/share, total $1,008,804.
• Footnotes: PRSUs convert 1:1 to common shares (F1, F3); the PRSUs were granted Mar 1, 2023 for the 2023–2025 performance period and certified by the Compensation Committee on Apr 8, 2026 (F4). The withheld shares represent tax withholding (F2).
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Filing timeliness: Timely (transaction Apr 8; Form 4 filed Apr 10).

Context
This was not an open‑market sale or purchase but the settlement of performance‑based equity compensation after achievement and certification of pre‑established goals. The withholding of shares to cover taxes is a routine administrative action and should not be interpreted as an additional voluntary sale by the insider.