RICHEY VICTOR L JR 4

What Happened

• Victor L. Richey, a director of CECO Environmental Corp. (CECO), acquired 6,378 shares of CECO common stock on June 1, 2026 as part of the closing of CECO’s merger with Thermon. This acquisition was in exchange for his previously held Thermon shares (he elected the stock consideration under the merger agreement).
• On the same date he was also granted 2,215 restricted stock units (RSUs) under CECO’s Deferred Compensation Plan for Non‑Employee Directors. The RSUs are derivative awards (reported at $0.00) and each RSU represents a contingent right to one share.

Key Details

• Transaction date(s): June 1, 2026; Form 4 filed June 3, 2026.
• Transaction codes: A = Award/Grant (6,378 shares reported as acquired via merger consideration; 2,215 RSUs reported as derivative grant at $0.00).
• Price/consideration: 6,378 shares received in merger consideration (no per‑share cash price reported); RSUs granted at $0.00 (derivative award).
• Vesting and distribution: RSUs vest on May 15, 2027. Conversion/distribution of RSUs to common stock is deferred until termination of director service under the plan.
• Footnotes: Shares were received under the Merger Agreement between CECO and Thermon; Mr. Richey elected the Stock Election Consideration (see filing).
• Timeliness: Report filed within two business days of the reported transaction date (no late‑filing flag).

Context

• This was not an open‑market purchase or sale: the 6,378 shares were received as merger consideration for Thermon shares, and the 2,215 RSUs are deferred compensation for a non‑employee director. Such awards reflect transaction mechanics and compensation policy rather than an immediate personal buy/sell decision.
• RSUs are derivative awards that convert to stock only upon vesting and distribution; they are commonly used to retain directors and defer compensation.