Azz Inc DEFA14A, filed Jun 28, 2024

Azz Inc (AZZ)

DEFA14A 2024-06-28

Added on October 17, 2026


¨	Preliminary Proxy Statement

¨	CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE 14a-6(e)(2))

¨	Definitive Proxy Statement

x	Definitive Additional Materials

¨	Soliciting Material Under §240.14a-12


x	No fee required.

¨	Fee paid previously with preliminary materials.

¨	Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

• Chart Industries, Inc.		• Littelfuse, Inc.
• Encore Wire Corporation		• LSI Industries Inc.
• ESCO Technologies Inc.		• Powell Industries, Inc.
• L.B. Foster Company		• Preformed Line Products Company
• Franklin Electric Co., Inc.		• Team, Inc.
• Generac Holdings, Inc.		• Valmont Industries, Inc.
• Haynes International, Inc.		• Woodward, Inc.

Name	Grant Date Target Value		Target # of PSUs Granted at Target		Payout Total # on FY2022 PSU Awards(1)		Market Value(2)
Thomas W. Ferguson	$	750,000		17,500		24,454	$	1,780,251
Philip Schlom	$	112,500		3,038		4,244	$	308,963
Tara D. Mackey	$	150,000		3,092		4,320	$	314,496
Kurt Russell⁽³⁾	$	—		—		—	$	—
Bryan Stovall	$	100,000		2,442		3,412	$	248,393


(1)	Altra Industrial Motion Corp. was acquired on March 27, 2023, during the three-year performance cycle and was no longer publicly traded, and therefore should have been excluded from the TSR industry peer group calculation for the FY2022 PSU awards, but inadvertently was not due to a clerical error.

STOCK AWARDS
Name	Grant Date		Number of Shares or Units of Stock That Have Not Vested (#)			Market Value of Shares or Units of Stock That Have Not Vested ($)(3)		Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#)(4)		Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested ($)(3)
Thomas E. Ferguson		05/04/2021		6,070	⁽¹⁾⁽²⁾		441,896		0		0
		05/04/2021		24,454	⁽⁵⁾		1,780,251		0		0
		05/09/2022		16,360	⁽¹⁾⁽²⁾		1,191,008		20,450		1,488,760
		04/28/2023		27,202	⁽¹⁾⁽²⁾		1,980,305		27,201		1,980,233
Philip Schlom		05/04/2021		1,054	⁽¹⁾⁽²⁾		76,731		0		0
		05/04/2021		4,244	⁽⁵⁾		308,963		0		0
		05/09/2022		4,269	⁽¹⁾⁽²⁾		310,783		4,573		332,914
		04/28/2023		5,408	⁽¹⁾⁽²⁾		393,702		5,407		393,630
Tara D. Mackey		05/04/2021		1,072	⁽¹⁾⁽²⁾		78,042		0		0
		05/04/2021		4,320	⁽⁵⁾		314,496		0		0
		05/09/2022		3,542	⁽¹⁾⁽²⁾		257,858		3,613		263,026
		04/28/2023		5,328	⁽¹⁾⁽²⁾		387,878		5,327		387,806
Kurt Russell		05/13/2022		15,343	⁽¹⁾⁽²⁾		1,116,970		0		0
Kurt Russell		04/28/2023		5,959	⁽¹⁾⁽²⁾		433,815		5,959		433,815
Bryan Stovall		05/04/2021		1,270	⁽¹⁾⁽²⁾		92,456		0		0
		05/04/2021		3,412	⁽⁵⁾		248,393		0		0
		05/09/2022		4,308	⁽¹⁾⁽²⁾		313,622		4,615		335,972
		04/28/2023		5,784	⁽¹⁾⁽²⁾		421,075		5,784		421,075

	(4)	Amounts in this column represent PSUs granted under the Company’s 2014 Plan, based on “target” and accrued dividend equivalents through February 29, 2024. The PSUs were granted on May 9, 2022, and April 28, 2023, as indicated in the table above, which have a three-year performance cycle and will vest and become payable, if at all, on the third anniversary of the grant date. Payouts can range from zero shares to a maximum of 200% of target. The number of shares reflected assumes the target level of performance achievement, which would result in the PSUs vesting at 100% of target.
	(5)	These represent FY2022 PSUs earned under the Company’s 2014 Plan which were earned over a three-year performance period from March 1, 2021 to February 29, 2024 based on the Company’s TSR relative to the FY2022 PSU industry peer group over the performance cycle and include accrued dividend equivalents through February 29, 2024, that will vest if, and when the shares to which such dividend equivalents relate vest. The FY2022 PSUs vest on May 4, 2024, subject to the participant continuing to be an employee through such vesting date. For additional information regarding the FY2022 PSUs and the associated performance metric, see “Compensation Discussion & Analysis — FY2022 Performance Shares Paid Out in FY2024.”

	Termination of Employment Not In Connection with Change in Control(1)										Termination of Employment In Connection with a Change in Control(2)
		Death/ Disability		Termination for Cause or Without Good Reason		Termination Without Cause or For Good Reason			Death/ Disability			Termination for Cause or Without Good Reason			Termination Without Cause or For Good Reason
Thomas Ferguson
Severance		$	—	$	—	$	3,115,068	(6)	$	—	$		—	$		2,811,366	(7)
Accelerated Vesting of RSUs(8)		$	—	$	—	$	3,613, 209		$	—	$		—	$		3,613,209
Accelerated Vesting of PSUs(9)		$	—	$	—	$	0		$	—	$		—	$		0
Health Benefits		$	—	$	—	$	0	(5)	$	—	$		—	$		0	(3)
TOTAL		$	—	$	—	$	6,728,277		$	—	$		—	$		6,424,575	(4)
Philip Schlom
Severance		$	—	$	—	$	788,826	(10)	$	—	$		—	$		1,724,514	(11)
Accelerated Vesting of RSUs(8)		$	—	$	—	$	781,216		$	—	$		—	$		781,216
Accelerated Vesting of PSUs(9)		$	—	$	—	$	0		$	—	$		—	$		0
Health Benefits		$	—	$	—	$	0	(5)	$	—	$		—	$		53,589	(3)
TOTAL		$	—	$	—	$	1,570,042		$	—	$		—	$		2,559,319	(4)
Tara Mackey
Severance		$	—	$	—	$	1,243,161	(12)	$	—	$		—	$		1,574,671	(11)
Accelerated Vesting of RSUs(8)		$	—	$	—	$	723,778		$	—	$		—	$		723,778
Accelerated Vesting of PSUs(9)		$	—	$	—	$	0		$	—	$		—	$		0
Health Benefits		$	—	$	—	$	16,558	(5)	$	—	$		—	$		31,117	(3)
TOTAL		$	—	$	—	$	1,983,497		$	—	$		—	$		2,329,566	(4)
Kurt Russell
Severance		$	—	$	—	$	1,622,250	(12)	$	—	$		—	$		2,039,400	(11)
Accelerated Vesting of RSUs(8)		$	—	$	—	$	1,550,785		$	—	$		—	$		1,550,785
Accelerated Vesting of PSUs(9)		$	—	$	—	$	0		$	—	$		—	$		0
Health Benefits		$	—	$	—	$	25,168	(5)	$	—	$		—	$		43,362	(3)
TOTAL		$	—	$	—	$	3,198,203		$	—	$		—	$		3,633,547	(4)