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MYR GROUP INC.·4

Mar 24, 4:05 PM ET

Swartz Richard S. Jr. 4

Research Summary

AI-generated summary

Updated

MYR Group CEO Richard Swartz Receives RSU Shares; Withholds for Taxes

What Happened

  • Richard S. Swartz Jr., President and CEO of MYR Group Inc. (MYRG), had previously awarded Restricted Stock Units (RSUs) vest and convert to common stock between March 21–23, 2026. A total of 7,965 shares were issued on settlement.
  • To satisfy tax withholding obligations, 3,486 shares were withheld and disposed, generating cash value of $924,809 (1,322 shares on 3/21 at $259.68 = $343,297; 834 shares on 3/22 at $259.68 = $216,573; 1,330 shares on 3/23 at $274.39 = $364,939). Net delivered to Swartz ≈ 4,479 shares.
  • Separately, Swartz received a new award of 4,482 RSUs on March 23, 2026 (these are derivative awards that vest over time and are not immediate shares).

Key Details

  • Transaction dates and items:
    • 2026-03-21: 3,021 RSUs converted to shares; 1,322 shares withheld for taxes @ $259.68 (cash value $343,297).
    • 2026-03-22: 1,905 RSUs converted to shares; 834 shares withheld for taxes @ $259.68 (cash value $216,573).
    • 2026-03-23: 3,039 RSUs converted to shares; 1,330 shares withheld for taxes @ $274.39 (cash value $364,939).
    • 2026-03-23: New grant of 4,482 RSUs awarded (derivative; vesting schedule applies).
  • Totals: 7,965 shares settled from vested RSUs; 3,486 shares withheld for taxes (total cash value ~$924,809); net ~4,479 shares delivered.
  • Shares owned after the transactions: not stated in the filing.
  • Footnotes: Vesting and settlement relate to RSUs awarded under the Issuer's 2017 Long-Term Incentive Plan (grants from 2023–2025 vest ratably over three years and settle one-for-one into common stock). Withheld shares were used to satisfy tax obligations.
  • Filing timeliness: Form 4 filed 2026-03-24 covering transactions dated 2026-03-21 to 2026-03-23 — filing appears to be timely.

Context

  • These transactions are RSU vesting and settlement events (derivative conversion), not open-market purchases or discretionary sales. The withheld-share disposals are routine tax-withholding actions common when RSUs vest (functionally similar to a net settlement rather than an independent sale decision).
  • The new 4,482-RSU grant is a derivative award that vests ratably over three years beginning the first anniversary of the grant and does not represent immediate share ownership.