Newby Matt 4

What Happened Matt Newby, EVP and General Counsel of Eagle Materials (EXP), exercised/converted a derivative to acquire 559 common shares on 2026-05-22 at an exercise price equal to the prior-day close ($199.13) for a gross value of ~$111,314. The company withheld 220 of those shares to cover tax liabilities (value ~$43,809), leaving a net of 339 shares delivered to Newby. Separately, on 2026-05-21 he was granted two restricted stock unit (RSU) awards totaling 4,312 RSUs (1,193 and 3,119 RSUs); RSUs carry no immediate cash value at grant and vest over multiple future dates.

Key Details

• Transaction dates/prices: 05/21/2026 (RSU grants at $0); 05/22/2026 (exercise at $199.13/share per F1).
• Exercise: 559 shares exercised (gross $111,314); 220 shares withheld for taxes ($43,809); net shares received = 339.
• Grants: 1,193 RSUs and 3,119 RSUs granted on 05/21/2026 (each RSU = right to one share; see F2).
• Vesting: RSUs vest ratably in three installments (first anniversary of grant, March 31, 2028, and March 31, 2029) per footnotes F3–F4.
• Shares owned after the transactions: not specified in the filing excerpt provided.
• Filing timeliness: Form filed 2026-05-26. The 05/22/2026 exercise was filed within the SEC’s 2-business-day window; the 05/21/2026 RSU grants appear to have been filed one business day late.
• Transaction codes explained: M = exercise/conversion of derivative; F = shares surrendered/withheld to satisfy tax obligations; A = award/grant (RSUs).

Context This was an option exercise with partial withholding for taxes (common practice) and RSU grants that vest over time. The withholding of 220 shares is a tax-related disposition, not an open-market sale. RSU grants are compensation awards and do not necessarily indicate near-term buying or selling intent.