Form 4 - Statement of changes in beneficial ownership of securities

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schlom Philip A

(Last)

(First)

(Middle)

ONE MUSEUM PLACE

3100 W. 7TH STREET, SUITE 500

(Street)

FORT WORTH

76107

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AZZ INC [ AZZ ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SVP, Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK	05/04/2024		M		1,013	A	$0	18,033	D
COMMON STOCK	05/04/2024		M		43⁽¹⁾	A	$0	18,076	D
COMMON STOCK	05/04/2024		F		373⁽²⁾	D	$75.02⁽³⁾	17,703	D
COMMON STOCK	05/04/2024		M		4,070	A	$0	21,773	D
COMMON STOCK	05/04/2024		M		174⁽⁴⁾	A	$0	21,947	D
COMMON STOCK	05/04/2024		F		1,372⁽²⁾	D	$75.02⁽³⁾	20,575	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽⁵⁾	05/04/2024		M			1,013	⁽⁶⁾	⁽⁷⁾	COMMON STOCK	1,013	$0	0	D
Performance Share Units	⁽⁸⁾	05/04/2024		M			4,070⁽⁹⁾	⁽¹⁰⁾	⁽⁷⁾	COMMON STOCK	4,070	$0	0	D

Explanation of Responses:

1. Represents the vesting of dividend equivalent rights that accrued on 1,013 restricted stock units ("RSUs") granted on 5/4/2021, which AZZ has settled in shares of AZZ common stock.

2. The reporting person disposed of shares of common stock to satisfy tax withholding obligations.

3. Pursuant to the Issuers 2014 Long Term Incentive Plan, as amended, should the vesting date fall on a weekend, the closing price shall be the last trading day prior to the vesting date.

4. Represents the vesting of dividend equivalent rights that accrued on the target performance share units ("PSUs") of 3,038 granted on 5/4/2021, which AZZ has settled in shares of AZZ common stock.

5. Each RSU represents a contingent right to receive one share of AZZ common stock.

6. The RSUs granted on 5/4/2021, vest ratably over a 3-year period beginning on 5/4/2022.

7. Once vested, the shares of common stock are not subject to expiration.

8. Each PSU represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.

9. Represents the number of shares acquired by the reporting person upon the vesting of PSUs granted on 5/4/2021. This number represents 3,038 target PSUs and 1,032 additional PSUs earned based upon the achievement of 134% of pre-established performance goals during the performance cycle.

10. The PSUs were granted under AZZ's 2014 Long Term Incentive Plan and had a three-year performance cycle (3/1/2021- 2/29/2024).

Remarks:

Pursuant to New York Stock Exchange (NYSE) rules, in the event a vesting date of RSUs falls on a weekend or holiday, the affected RSUs will vest on the next following NYSE business day.

	/s/Tara D. Mackey, attorney-if-fact for Philip A. Schlom	05/08/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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