X0306
4
2017-07-11
0
0000008947
AZZ INC
AZZ
0001601686
Fehlman Paul Wesley
ONE MUSEUM PLACE, SUITE 500
3100 WEST 7TH STREET
FORT WORTH
TX
76107
0
1
0
0
SVP & CFO
COMMON STOCK
2017-07-11
4
P
0
1500
49.314
A
9287
D
Restricted Stock Units
2017-07-11
4
A
0
765
0
A
COMMON STOCK
765.0
765
D
Performance Share Units
2017-07-11
4
A
0
765
0
A
COMMON STOCK
765.0
765
D
The price reported in Column 4 is a weighted average price.
Each restricted stock unit ("RSU") represents a contingent right to receive one share of AZZ common stock.
The RSUs are granted under AZZ's 2014 Long Term Incentive Plan (the "2014 Plan") and vest over a three-year period with one-third of the RSUs vesting on 4/27/2018 4/27/2019 and 4/27/2020.
Each performance share unit ("PSU") represents a contingent right to receive shares of AZZ common stock with the actual number varying based on achieved results.
The PSUs are issued under AZZ's 2014 Plan. The PSUs will vest and become payable, if at all, on February 29, 2020, ranging from 0% to 200% based on AZZ achieving a target average adjusted return on assets from March 1, 2017 to February 29, 2020. Actual payout will be subject to a multiplier up to a maximum of 250% of the target award if AZZ's total shareholder return for the 3-year period ranks within the top quartile relative to each company in a custom industry peer group for the same period.
/s/ Tara D. Mackey, attorney-in-fact for Paul W. Fehlman
2017-07-12