Vellines Jeffrey 4

What Happened Jeffrey Vellines, President & COO of AZZ’s Precoat Metals business, had dividend-equivalent rights on 873 restricted stock units (plus 6 additional shares) settled into common stock on 2026-04-24 (total 879 shares acquired at $0). To satisfy tax withholding obligations, 392 shares were surrendered/treated as disposed at an equivalent value of $143.33 per share, generating $56,185. The filings show conversion/settlement of derivative awards (RSUs) and a routine tax-withholding disposition.

Key Details

• Transaction date: 2026-04-24; Form 4 filed 2026-04-27 (timely).
• Shares acquired: 873 shares (dividend equivalents on RSUs) + 6 shares acquired — all at $0 per share (settlement of derivative awards).
• Shares disposed (withheld for taxes): 392 shares at $143.33 each = $56,185.
• Relevant footnotes:
  • F1/F3: These were dividend-equivalent rights settled in shares; each RSU represents a right to one share.
  • F2: The disposal was to satisfy tax withholding.
  • F4/F5: RSUs were granted 4/24/2025 under the 2023 Long-Term Incentive Plan and vest ratably over three years beginning 4/24/2026; vested shares do not expire.
• Shares owned after the transaction are not specified in the provided filing excerpt.

Context This was not an open-market buy or a discretionary sale of stock for investment purposes. It reflects settlement of compensation (RSU dividend equivalents) and a routine share withholding to cover taxes—common for equity awards. The filing uses transaction codes M (exercise/conversion of derivative) for the settlement and F for tax withholding.