Bella Todd Michael 4

What Happened

• Bella Todd Michael, President — Metal Coatings of AZZ (AZZ), had dividend‑equivalent shares and RSU conversions settled into common stock on 2026-04-24. The filing shows acquisitions of 351 shares (dividend equivalents) and 2 additional shares at $0.00 per share. To satisfy tax withholding, she disposed of 132 shares at $143.33 per share for proceeds of $18,920. The transactions were reported on 2026-04-27.

Key Details

• Transaction date: 2026-04-24; Filing date: 2026-04-27 (timely).
• Acquisitions: 351 shares (settlement of dividend equivalents on RSUs) and 2 shares, at $0.00 per share (derivative conversion/settlement).
• Disposal: 132 shares sold for tax withholding at $143.33 per share, total $18,920 (transaction code F).
• Transaction codes: M = exercise/conversion of derivative (RSU conversion/dividend settlement), F = shares disposed to satisfy tax withholding.
• Footnotes: Dividend equivalents on 351 RSUs (granted 4/24/2025) were settled in shares (F1). Each RSU equals one share (F3). The underlying RSUs were granted under the 2023 LTIP and vest ratably over 3 years beginning 4/24/2026 (F4). Filing does not specify total shares owned after these transactions.

Context

• This was not an open‑market investment decision: the share receipts reflect settlement of compensation (RSU/dividend equivalents), and the 132‑share sale was to cover tax withholding — a routine administrative sale rather than a discretionary sale signaling a view on the stock. For retail investors, purchases or exercised awards that are followed by only tax‑withholding disposals are common and generally not a directional insider buy/sell signal.