Haack Michael 4

What Happened

• Michael Haack, President & CEO and a Director of Eagle Materials (EXP), had restricted stock units vest on March 31, 2026. The filing shows conversion/exercise of 3,981 derivative awards into 3,981 shares (reported value using prior close $181.50 = $722,552).
• To satisfy tax withholding obligations tied to vesting/lapsing restrictions, the issuer disposed/withheld shares: 4,781 shares (valued at $867,752) and an additional 1,567 shares (valued at $284,411). Combined, 6,348 shares were withheld (approx. $1,152,163).

Key Details

• Transaction date: March 31, 2026; filing date: April 2, 2026 (filed timely).
• Prices used: $181.50 per share (closing price on prior trading day, per footnote).
• Acquired: 3,981 shares via exercise/conversion of RSUs (derivative code M).
• Withheld/Disposed for taxes: 4,781 shares and 1,567 shares (code F) at $181.50 each.
• Footnotes:
  • F1: $181.50 is prior trading day close.
  • F2: 4,781 shares were withheld by the issuer to satisfy income tax withholding related to lapsing restrictions on earlier awards; the filing notes the reporting person’s direct ownership was reduced by 4,781 shares to reflect this withholding.
  • F3/F4: Each RSU equals one share; the award (11,857 RSUs granted 5/24/24) vests ratably, including a tranche that vested on 3/31/26.
• Shares owned after transaction: the filing states the reporting person's direct ownership was reduced by 4,781 shares to reflect withholding; a total post-transaction share count is not provided in the Form 4.

Context

• This was a vesting/settlement of restricted stock units (RSUs), not an open-market sale or purchase. The RSUs converted to shares and the company withheld a portion to cover tax obligations — a routine administrative step that does not itself signal a buy/sell decision by the insider.
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = shares withheld/disposed to satisfy tax withholding.