Eagle Materials (EXP) EVP Matt Newby Withholds 532 Shares for Taxes

What Happened

• Matt Newby, EVP and General Counsel of Eagle Materials Inc. (EXP), had 532 shares of common stock withheld to satisfy income tax withholding related to the lapse of restrictions on 1,350 restricted shares.
• The withheld shares are reported as disposed at $194.66 per share, for a total value of $103,559. This is a tax-withholding event (routine), not an open-market sale.

Key Details

• Transaction date: 2026-05-18; Form 4 filed: 2026-05-20 (timely).
• Price used: $194.66 per share (closing price on the prior trading day per company plan).
• Shares involved: 1,350 restricted shares lapsed; 532 shares were withheld to cover taxes.
• Effect on ownership: The reporting person's direct ownership was reduced by 532 shares to reflect the withholding (total post-transaction holding not specified in the filing).
• Transaction code: F = payment of exercise price or tax liability (here, tax withholding).
• Footnotes: F1 explains the price is prior-day close under the issuer’s 2023 Equity Incentive Plan; F2 explains the withholding and reduction of reported direct ownership.

Context

• This was a cashless tax-withholding of restricted stock upon vesting — a routine administrative transaction that does not indicate a discretionary open-market sale or purchase decision by the insider.