Haddock Alex 4

What Happened

• Alex Haddock, Senior Vice President of Eagle Materials (EXP), exercised/converted derivatives to acquire 354 shares on May 22, 2026, valued at $199.13 per share (total ~ $70,492). To satisfy tax withholding related to the exercise, 140 shares were surrendered at the same $199.13 price (value ~ $27,878). Separately, on May 21, 2026, Haddock was granted 1,130 restricted stock units (RSUs) (recorded at $0 as they are derivative awards).

Key Details

• Transaction dates and prices:
  • May 21, 2026: Grant of 1,130 RSUs (derivative award; $0 reported).
  • May 22, 2026: Exercise/conversion of derivative for 354 shares @ $199.13 (acquired; $70,492).
  • May 22, 2026: 140 shares withheld/surrendered for tax/payment @ $199.13 (disposed; ~$27,878).
• Shares owned after transaction: Not disclosed on the Form 4.
• Notable footnotes:
  • F1: $199.13 equals the closing price on the prior trading day.
  • F2: Each RSU equals a contingent right to one common share.
  • F3/F4: RSUs vest ratably over three installments (details include first anniversary and subsequent March 31 dates per the footnotes).
• Timeliness: Form 4 filed May 26, 2026 for transactions on May 21–22, 2026 — which is after the typical 2-business-day filing window (appears late).

Context

• This appears to be a routine option/derivative exercise with net-share settlement: shares were acquired on exercise and a portion were withheld/surrendered to cover tax obligations. Such withholding is standard and does not necessarily indicate a market-driven sale.
• The 1,130 RSU grant is a forward-looking award that vests over multiple future dates per the footnotes; RSU grants reflect compensation and are not immediate purchases of stock.