Matrix Service (MTRX) CEO Shawn Payne Sells 13,841 Shares

What Happened

• Shawn P. Payne, President & CEO and a director of Matrix Service Company (MTRX), had multiple restricted‑award settlements in late August 2026 and surrendered shares back to the issuer to cover vesting/tax obligations. In total he disposed of 13,841 shares to the issuer across Aug 27–30, 2026 for aggregate proceeds of about $150,454; separate tax‑withholding dispositions totaled roughly $94,373.
• These transactions reflect the conversion/settlement of restricted stock units (derivative/“M” entries) followed by dispositions to the issuer (“D” entries) and share withholding to pay tax obligations (“F” entries). This is routine settlement/tax withholding rather than an open‑market sale expressing a buy/sell view.

Key Details

• Dates & prices:
  • 2026-08-27: Disposed 6,947 shares to issuer at $10.91 — proceeds ≈ $75,792; tax‑withholding disposals on that date ≈ 5,958 shares for ~$65,002.
  • 2026-08-29: Disposed 4,077 shares to issuer at $10.83 — proceeds ≈ $44,154; tax withholding 1,604 shares for ~$17,371.
  • 2026-08-30: Disposed 2,817 shares to issuer at $10.83 — proceeds ≈ $30,508; tax withholding 1,108 shares for ~$12,000.
  • Total disposed to issuer: 13,841 shares, ≈ $150,454. Total tax‑withheld proceeds: ≈ $94,373.
• Shares owned after the transactions: not specified in the filing excerpt provided.
• Footnotes of note:
  • F1: Certain Restricted Stock Units (RSUs) are settled solely in cash when vested.
  • F2: Shares were disposed to satisfy tax obligations on stock‑settled RSUs.
  • F3–F6: Vesting schedules listed (annual 25% cliffs across various grant dates 2023–2029) for different RSU awards.
• Filing timeliness: Form filed 2026‑08‑31 reporting transactions from 2026‑08‑27 to 2026‑08‑30. The filing itself does not flag a late filing in the provided data.

Context

• Transaction codes explained simply: M = exercise/conversion of a derivative/RSU award; D = disposition to the issuer; F = shares withheld/disposed to pay taxes. Here the shares resulted from vesting/conversion of RSUs and were largely surrendered to the company to satisfy tax withholding and settlement — effectively a cashless outcome for the insider.
• These are routine compensation/settlement transactions and do not necessarily signal personal bullish or bearish trading intent.