MTRX CFO Kevin Cavanah Exercises RSUs, Sells Shares for ~$196K

What Happened

• Kevin S. Cavanah, Vice President Finance & Chief Financial Officer of Matrix Service Co. (MTRX), had multiple restricted stock unit (RSU) vesting/conversion events Aug 27–30, 2026. A total of 18,061 RSU-equivalent units were exercised/converted and immediately settled; parts of those shares were surrendered/disposed to the issuer and additional shares were withheld to satisfy tax obligations.
• The filing shows dispositions to the issuer totaling about $196,185 (proceeds from share dispositions) and tax withholding payments of about $68,425. The transactions were reported as exercise/conversion of derivatives (code M), dispositions (D), and tax withholding (F).

Key Details

• Transaction dates & amounts (aggregate by date):
  • Aug 27, 2026: 7,316 RSU equivalents converted (4,307 + 3,009); dispositions to issuer = 7,316 shares at $10.91 (total $79,817); tax-withheld shares = 2,593 at $10.91 (total $28,289).
  • Aug 29, 2026: 6,176 RSU equivalents converted; disposition to issuer = 6,176 shares at $10.83 ($66,886); tax-withheld = 2,130 shares at $10.83 ($23,068).
  • Aug 30, 2026: 4,569 RSU equivalents converted; disposition to issuer = 4,569 shares at $10.83 ($49,482); tax-withheld = 1,576 shares at $10.83 ($17,068).
• Totals reported: 18,061 RSU equivalents exercised/converted; proceeds from dispositions ≈ $196,185; tax withholding ≈ $68,425.
• Shares owned after the transactions: not disclosed in this filing.
• Footnotes of note:
  • F1: Each Restricted Stock Unit is economically equivalent to one share; several awards are cash-settled when vested.
  • F2: Some shares were disposed to satisfy tax obligations for stock-settled RSUs.
  • F3–F6: Vesting schedules described (25% vesting annually across different award grant dates).
• Timeliness: Transactions occurred Aug 27–30, 2026; Form 4 was filed Aug 31, 2026 — the filing is within the standard 2 business-day reporting window and appears timely.

Context

• These transactions reflect RSU vesting and immediate settlement/withholding rather than an open-market purchase or voluntary sale. M = exercise/conversion of a derivative (the RSU award), D = disposition to issuer (shares surrendered/settled), and F = shares withheld to pay tax obligations. Because several awards are cash-settled RSUs, no new freely tradable shares may have been issued to the insider; the reported dispositions/withholdings are routine for vesting events and tax payments, not necessarily a directional bet by the insider.