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EAGLE MATERIALS INC·4

May 26, 4:09 PM ET

Haack Michael 4

Research Summary

AI-generated summary

Updated

Eagle Materials CEO Michael Haack Exercises Options, Receives RSUs

What Happened

  • Michael Haack, President & CEO and a director of Eagle Materials (EXP), exercised options on May 22, 2026 to acquire 3,527 shares at an exercise-related price of $199.13 per share (cash cost reported as $702,332). To satisfy withholding for taxes/exercise cost, 1,388 shares were surrendered/disposed (valued at $199.13 each, ~$276,392). The filing also reports two restricted stock unit (RSU) awards granted on May 21, 2026 totaling 27,230 RSUs (7,533 and 19,697 RSUs).

Key Details

  • Transaction dates and prices:
    • 2026-05-22: Exercise/conversion (code M) — 3,527 shares acquired at $199.13 (total $702,332).
    • 2026-05-22: Tax/price withholding (code F) — 1,388 shares disposed at $199.13 (total ~$276,392).
    • 2026-05-21: Grants (code A) — 7,533 RSUs and 19,697 RSUs granted at $0 (derivative awards).
    • The filing also shows a technical conversion/disposition entry of 3,527 derivative units at $0 (reported as part of the exercise process).
  • Shares owned after the transactions: Not specified in the provided Form 4 excerpt.
  • Notable footnotes:
    • F1: $199.13 reflects the prior trading day's closing price used for valuation.
    • F2: Each RSU represents a contingent right to one share.
    • F3/F4: The RSUs vest ratably in three installments — on the first anniversary of the grant and on March 31, 2028 and March 31, 2029.
    • F5: A prior RSU grant (10,531 RSUs on 5/22/2025) is noted with a similar vesting pattern.
  • Filing timeliness: Form filed 2026-05-26 for transactions on 2026-05-21/22; the filing date is a few days after the transactions and no late-filing flag is shown in the excerpt.

Context

  • This was effectively a cash exercise with share withholding: Haack paid the exercise-related amount (reported via the $199.13 price) to convert his derivative awards into 3,527 underlying shares, and a portion (1,388 shares) was withheld to cover taxes/charges — a common, administrative way to satisfy tax liabilities rather than a market sale for discretionary reasons.
  • The RSU grants are time-based awards that vest over multi-year schedules and do not represent an immediate cash transaction; they are not direct buy/sell signals on their own.