Fideuram Intesa Sanpaolo Private Banking S.P.A. Makes New Investment in Zurn Elkay Water Solutions Cor $ZWS
Fideuram Intesa Sanpaolo Private Banking S.P.A. has initiated a new position in Zurn Elkay Water Solutions Cor (NYSE:ZWS), purchasing 81,292 shares valued at approximately $3.78 million in the fourth quarter. This move comes as several other institutional investors also adjusted their holdings in the company. Zurn Elkay Water Solutions recently reported strong quarterly results, beating EPS and revenue estimates, and analysts maintain a "Moderate Buy" consensus rating for the stock.
Zurn Elkay Water Solutions Corp (ZWS) Stock Down 3.4% but Still Overvalued -- GF Score: 89/100
Zurn Elkay Water Solutions Corp (ZWS) stock dropped 3.4% but is still considered overvalued according to GuruFocus's GF Value™ assessment, despite a strong GF Score™ of 89/100. The stock is currently trading at $46.37, while its intrinsic value is estimated at $40.01, indicating a 15.9% overvaluation. Investors are cautioned about the lack of a margin of safety and the potential for reduced returns.
Zurn Elkay Water Solutions (NYSE:ZWS) Could Be A Buy For Its Upcoming Dividend
Zurn Elkay Water Solutions (NYSE:ZWS) is preparing to trade ex-dividend, offering a US$0.11 per share payment on June 5th, resulting in a 0.9% trailing yield. The company's dividend is well-covered by both profits and free cash flow, with payout ratios of 32% and 21% respectively. With earnings per share growing at 19% annually over the last five years and a modest dividend growth of 5.5% per year, the stock appears to be a solid candidate for dividend investors despite a past dividend cut.
ZWS Technical Analysis & Stock Price Forecast
The article provides a technical analysis and stock price forecast for Zurn Elkay Water Solutions Corp (ZWS). It considers various indicators such as Moving Averages, RSI, MACD, and identifies support and resistance levels, concluding with a "Neutral" technical sentiment despite some buy signals from oscillators. The stock is currently trading above its 200-day moving average, often considered a bullish sign for long-term trends.
Horizon Investments LLC Reduces Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS
Horizon Investments LLC significantly reduced its stake in Zurn Elkay Water Solutions by 90.1% during the fourth quarter, retaining 2,575 shares valued at approximately $120,000. This comes amidst notable insider selling, with CEO Todd A. Adams and VP Jeffrey J. Lavalle selling shares totaling about $14.2 million and $315,824, respectively, in February. Despite this, Zurn Elkay Water Solutions reported strong quarterly results, exceeding analyst expectations with EPS of $0.41 and revenue of $433 million, and analysts currently maintain a "Moderate Buy" consensus rating with a price target of $54.88.
Zurn Elkay Water Solutions Insiders Sold US$40m Of Shares Suggesting Hesitancy
The article discusses the significant sale of US$40 million worth of shares by insiders at Zurn Elkay Water Solutions over the past year. This large selling activity, particularly when the stock price was high, suggests potential hesitancy by insiders regarding the company's future prospects. Despite the sales, independent directors hold a substantial 2.2% stake, indicating some level of confidence.
Principal Financial Group Inc. Sells 1,246,458 Shares of Zurn Elkay Water Solutions Cor $ZWS
Principal Financial Group Inc. significantly reduced its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by selling 1,246,458 shares, leaving it with 865,603 shares valued at approximately $40.2 million. This comes as Zurn Elkay Water Solutions reported strong first-quarter earnings, exceeding revenue and EPS estimates, with revenue up 11.4% year over year. Analysts maintain a "Moderate Buy" consensus rating with an average price target of $54.88, while the company also declared a $0.11 quarterly dividend.
Zurn Elkay Water Solutions Cor (NYSE:ZWS) Given Average Recommendation of "Moderate Buy" by Brokerages
Brokerages have given Zurn Elkay Water Solutions Corp (NYSE:ZWS) an average "Moderate Buy" rating, with an average 1-year price target of $54.88. The company recently exceeded Q1 earnings and revenue expectations ($0.41 EPS vs. $0.37 expected, and $433M revenue vs. $419M expected). Insider trading activity shows significant selling of shares totaling approximately $30.3 million over the past 90 days.
Vanguard Group Inc. Has $777.66 Million Stock Holdings in Zurn Elkay Water Solutions Cor $ZWS
Vanguard Group Inc. reduced its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 1.1% in the fourth quarter, now holding 16,727,550 shares valued at $777.66 million, which represents 10.00% of the company. Insiders have also been net sellers, with CEO Todd A. Adams selling shares worth approximately $14.24 million and total insider sales reaching $31.2 million over the past three months. Despite these sales, Zurn Elkay reported strong quarterly results, beating EPS estimates and demonstrating 11.4% year-over-year revenue growth, leading to a "Moderate Buy" consensus analyst rating.
Jennison Associates LLC Has $19.96 Million Stake in Zurn Elkay Water Solutions Cor $ZWS
Jennison Associates LLC significantly reduced its stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) by 51.1% in the fourth quarter, now holding 429,248 shares valued at approximately $19.96 million. Despite this reduction, Zurn Elkay reported strong quarterly earnings, beating analyst estimates with $0.41 EPS and $433.0 million in revenue, leading to a consensus "Moderate Buy" rating among analysts. However, insider selling has been notable, with CEO Todd Adams and other insiders selling a substantial number of shares recently.
Zurn Elkay (ZWS) investors approve directors, pay plan and Ernst & Young
Zurn Elkay Water Solutions Corporation (ZWS) announced that stockholders approved key governance items at their April 30, 2026, Annual Meeting. Shareholders elected three directors, approved executive officer compensation on an advisory basis, and ratified Ernst & Young LLP as the independent registered public accounting firm for fiscal year 2026. Sudhanshu Chhabra will also transition to an advisory role.
Zurn Elkay Water Solutions Cor to Issue Quarterly Dividend of $0.11 (NYSE:ZWS)
Zurn Elkay Water Solutions (NYSE:ZWS) has declared a quarterly dividend of $0.11 per share, representing an annualized dividend of $0.44 and a yield of 0.8%. The company recently exceeded Q1 earnings expectations, reporting an EPS of $0.41 against an estimated $0.37 and revenue of $433 million, an 11.4% year-over-year increase. Analysts anticipate an EPS of $1.90 next year, with the dividend payout ratio expected to remain well within earnings coverage.
Vest Financial LLC Invests $1.50 Million in Zurn Elkay Water Solutions Cor $ZWS
Vest Financial LLC has acquired a new position of 32,361 shares in Zurn Elkay Water Solutions Corporation (NYSE:ZWS), valued at approximately $1.50 million in Q4. Zurn Elkay recently reported strong quarterly earnings, beating analyst estimates with revenue up 11.4% year-over-year, and analysts maintain a consensus "Moderate Buy" rating with a $54.88 price target. Despite insider selling, institutional investors hold a significant portion of the stock, and the company announced a quarterly dividend.
Press Release: Zurn Elkay Water Solutions Declares Quarterly Cash Dividend
Zurn Elkay Water Solutions has declared a quarterly cash dividend of $0.08 per share. This dividend is payable on May 29, 2026, to shareholders of record as of May 15, 2026. The announcement reflects the company's regular practice of returning value to its investors.
Zurn Elkay declares $0.11 quarterly dividend
Zurn Elkay Water Solutions Corporation announced a quarterly cash dividend of $0.11 per share, payable on June 5, 2026, to stockholders of record as of May 20, 2026. This announcement follows strong first-quarter 2026 results where the company exceeded earnings and revenue forecasts, leading Stifel to raise its price target and maintain a Buy rating. KeyBanc also maintained its Sector Weight rating, citing solid performance and limited tariff impact concerns.
Zurn Elkay to pay cash dividend June 5 to holders of record May 20
Zurn Elkay Water Solutions Corporation announced a quarterly common stock dividend of $0.11 per share. This cash dividend is payable on June 5, 2026, to stockholders of record as of May 20, 2026. The company, headquartered in Milwaukee, WI, specializes in water management solutions.
Vanguard Portfolio Management holds 5.37% of Zurn Elkay (ZWS)
Vanguard Portfolio Management has reported a beneficial ownership of 8,998,665 shares, representing 5.37% of Zurn Elkay Water Solutions (ZWS), through a Schedule 13G filing. The filing indicates sole voting power for 142,359 shares and sole dispositive power for all 8,998,665 shares, reflecting holdings managed across various Vanguard affiliates and funds. This is considered a routine passive investment disclosure, with no single external person holding more than 5% of the reported shares.
Zurn Elkay Water Solutions Declares Quarterly Cash Dividend
Zurn Elkay Water Solutions Corporation has declared a quarterly cash dividend. The announcement was made via a press release and was quickly alerted to Quantisnow Plus members. Quantisnow provides real-time market data and news for retail investors, including SEC filings, analyst ratings, and press releases.
Zurn Elkay Water Solutions (ZWS) Is Up 9.8% After Q1 2026 Profit Beat And Margin Expansion
Zurn Elkay Water Solutions (ZWS) saw its stock rise by 9.8% after reporting stronger-than-expected Q1 2026 results. The company's sales increased to US$433 million, net income rose to US$58.9 million, and earnings per share improved, driven by strong organic growth, margin expansion, and supply chain productivity. Additionally, Zurn Elkay expanded its revolving credit facility to US$550 million and conducted share repurchases, providing greater liquidity for growth initiatives focused on higher-margin filtration products.
USA TODAY Again Names Zurn Elkay Water Solutions One of America’s Climate Leaders 2026
Zurn Elkay Water Solutions has been recognized for the second consecutive year as one of America’s Climate Leaders by USA Today and Statista, ranking highly among U.S. companies for reducing greenhouse gas emissions. The company achieved a 21.3% reduction in greenhouse gas intensity between 2022 and 2024, placing it No. 161 overall, No. 6 in the Capital Goods sector, and No. 3 among Wisconsin-based companies. This recognition underscores Zurn Elkay's commitment to sustainability and its efforts in water conservation and quality.
USA TODAY Again Names Zurn Elkay Water Solutions One of America’s Climate Leaders 2026
Zurn Elkay Water Solutions has been recognized for the second consecutive year as one of America’s Climate Leaders 2026 by USA Today and Statista. The company achieved a 21.3% reduction in greenhouse gas intensity between 2022 and 2024, ranking 161st overall among U.S. companies and 6th in the Capital Goods sector. This acknowledgment highlights Zurn Elkay's commitment to reducing its environmental impact and contributing to sustainability efforts.
A 21.3% emissions-intensity cut put Zurn Elkay on USA TODAY's 2026 list
Zurn Elkay Water Solutions (NYSE: ZWS) has been recognized by USA Today and Statista as one of America’s Climate Leaders for 2026, marking its second consecutive year on the list. The company achieved an impressive 21.3% reduction in greenhouse gas intensity between 2022 and 2024. Zurn Elkay ranked 161st overall among 500 companies, 6th in the Capital Goods sector, and 3rd among Wisconsin-based businesses.
Zurn Elkay Water Solutions Cor Q1 Earnings Call Highlights
Zurn Elkay Water Solutions (NYSE: ZWS) reported strong first-quarter 2026 results with 11% organic sales growth and an 18% increase in adjusted EBITDA. The company maintained a "price cost positive" outlook despite tariff developments and plans for 3 points of incremental pricing for the year. Management expressed confidence in its full-year free cash flow target and noted healthy liquidity, with an upsized revolver for M&A opportunities, while deferring a full-year outlook update until after Q2 results.
Zurn Elkay Water Solutions Cor (NYSE:ZWS) Price Target Raised to $59.00 at Stifel Nicolaus
Stifel Nicolaus has increased its price target for Zurn Elkay Water Solutions Corp (NYSE:ZWS) to $59.00 from $53.00, maintaining a "buy" rating, which implies a potential 13.1% upside. This decision follows Zurn Elkay beating quarterly earnings and revenue estimates, reporting $0.41 EPS and $433 million in revenue, an 11.4% year-over-year increase. The company has also seen significant institutional investment, with ownership now at approximately 83.33%.
Zurn Elkay Water Solutions Corporation (NYSE:ZWS) Q1 2026 Earnings Call Transcript
Zurn Elkay Water Solutions (NYSE: ZWS) reported strong Q1 2026 results with 11% organic sales growth and an 18% increase in EBITDA, reaching $116 million. The company's adjusted EBITDA margin expanded to 26.8%, driven by productivity initiatives and a favorable product mix. Zurn Elkay also repurchased $50 million in shares and maintains a robust free cash flow outlook, with plans to revisit its full-year guidance after Q2 due to early outperformance.
Robert W. Baird Has Lowered Expectations for Zurn Elkay Water Solutions Cor (NYSE:ZWS) Stock Price
Robert W. Baird has reduced its price target for Zurn Elkay Water Solutions (NYSE:ZWS) from $56 to $53, maintaining a "neutral" rating, despite the company surpassing its quarterly earnings and revenue estimates. The brokerage's new price target indicates a modest upside of 1.26% from the current stock price. Company insiders have also been actively selling shares, with 599,259 shares valued at approximately $31.2 million sold in the last 90 days.
Employees rank Zurn Elkay a top U.S. workplace for third year
Zurn Elkay Water Solutions (NYSE: ZWS) has been recognized as a Top Workplace USA for the third consecutive year and a Top Workplace Southeast Wisconsin for the second year. This recognition, based on confidential employee feedback through an Energage survey, highlights Zurn Elkay's commitment to a people-first culture. CEO Todd A. Adams emphasized that this honor reflects an environment where employees feel empowered, supported, and connected to their work, driving the company's mission to provide innovative water solutions.
Zurcher Kantonalbank Zurich Cantonalbank Sells 46,300 Shares of Zurn Elkay Water Solutions Cor $ZWS
Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in Zurn Elkay Water Solutions Corp (NYSE:ZWS) by 13.9%, selling 46,300 shares and retaining 285,796 shares valued at $13.29 million. Institutional investors now own approximately 83.33% of the company, while company insiders have been net sellers, divesting 599,259 shares worth $31.23 million in the last 90 days. Zurn Elkay recently exceeded Q1 earnings estimates with $0.41 EPS and $433.0 million in revenue, and pays a quarterly dividend of $0.11.
Stifel raises Zurn Water Solutions price target on strong growth By Investing.com
Stifel has raised its price target for Zurn Water Solutions (NYSE:ZWS) to $59 from $53, maintaining a Buy rating after the company beat first-quarter 2026 results and provided strong second-quarter guidance. Zurn Water Solutions achieved 11% organic growth with contributions from price increases and various water solutions, leading to a 70% stock surge over the past year. Despite the positive momentum, InvestingPro analyses suggest the stock may be overvalued based on its current P/E ratio.
Zurn Elkay Water Solutions Crushes Q1 2026 Profit Estimates by 10.8%
Zurn Elkay Water Solutions Corporation (NYSE: ZWS) reported strong Q1 2026 results, with adjusted diluted earnings of $0.41 per share, beating estimates by 10.8%. The company's revenue increased by 11.0% to $433.0M, driven by core sales growth, indicating healthy demand for its water infrastructure solutions. While analysts maintain a balanced view, investors will be watching for sustained revenue growth and commentary on municipal infrastructure spending.
Zurn Elkay Water Solutions Corporation 2026 Q1 - Results - Earnings Call Presentation (NYSE:ZWS) 2026-04-22
Zurn Elkay Water Solutions Corporation (NYSE:ZWS) released its Q1 2026 earnings, reporting an EPS of $0.41, beating estimates by $0.05. The company's revenue reached $433.00M, surpassing expectations by $14.07M and showing an 11.37% year-over-year increase. The earnings call presentation was published in conjunction with these results.
Stifel reiterates Buy on Zurn Water Solutions stock after Q1 beat By Investing.com
Stifel reiterated a Buy rating and a $53.00 price target on Zurn Water Solutions (NYSE:ZWS) after the company reported strong Q1 2026 results, exceeding revenue and adjusted EBITDA estimates. Despite maintaining its 2026 guidance, Stifel noted Zurn Elkay is outperforming expectations, although InvestingPro data suggests the stock is currently overvalued. The company also expanded its revolving credit facility and declared a quarterly cash dividend.
Earnings call transcript: Zurn Elkay beats Q1 2026 forecasts, stock rises
Zurn Elkay Water Solutions Corporation reported strong financial results for Q1 2026, surpassing both earnings and revenue forecasts, which led to a 4.32% stock increase in premarket trading. The company achieved 11% organic sales growth and expanded its adjusted EBITDA margin to 26.8%, driven by operational execution and strategic initiatives. Despite pausing its full-year outlook due to market uncertainties like tariffs, the company remains confident in its performance and strategic direction, including growth in its Drinking Water segment and M&A appetite.
Zurn Elkay Water Solutions Cor (NYSE:ZWS) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS
Zurn Elkay Water Solutions Corp (NYSE:ZWS) announced stronger-than-expected quarterly earnings, reporting an EPS of $0.41 against an anticipated $0.37 and revenue of $433.0 million, surpassing estimates of $419.0 million. The company's financial health is further highlighted by a net margin of 11.68% and a return on equity of 16.54%. Despite significant insider selling totaling $31.2 million over the past 90 days, the company maintains a "Moderate Buy" consensus rating from analysts with an average target price of $54.00, and declared a quarterly dividend of $0.11.
Zurn Elkay Water Solutions Corporation (ZWS) Stock Rises on Q1 2026 Earnings
Zurn Elkay Water Solutions Corporation (ZWS) reported strong Q1 2026 earnings, with revenues of $433 million, an 11.4% increase year-over-year, and diluted EPS of $0.35, up 45.8%. Despite diluted EPS being slightly below consensus, the stock rose approximately 4.3% since market close due to significant margin expansion. Insider trading showed 24 sales and 0 purchases in the last six months, while hedge funds exhibited mixed activity with some major reductions and additions in Q4 2025.
Water systems maker lifts profit, expands credit line to $550M
Zurn Elkay Water Solutions (NYSE: ZWS) reported strong first-quarter 2026 financial results, with adjusted EPS hitting $0.41 and core sales increasing by 11%. The company also expanded its revolving credit facility from $200 million to $550 million and repurchased 1.0 million shares of common stock. Zurn Elkay anticipates continued growth in the second quarter, projecting core sales to increase by 8% to 9%.
Zurn Elkay Water Solutions Q1: $433.0M Revenue, $0.35 EPS
Zurn Elkay Water Solutions announced strong first-quarter results, reporting net sales of $433.0 million and diluted net income per share of $0.35. This performance represents an 11.4% year-over-year revenue increase, driven by improved core sales across product categories and successful productivity initiatives. The company also highlighted ongoing restructuring, capacity optimization, and monitoring of pension and supply-chain developments.
Earnings jump at Zurn Elkay (NYSE: ZWS) on 11% Q1 sales growth
Zurn Elkay Water Solutions (NYSE: ZWS) reported strong first quarter 2026 results, with net sales increasing 11% to $433.0 million and net income from continuing operations rising to $58.9 million. Adjusted EPS grew to $0.41 from $0.31, and adjusted EBITDA expanded to $116.0 million with margins of 26.8%. The company also repurchased $50 million in common stock and provided a positive outlook for Q2 2026, anticipating 8-9% core sales growth and adjusted EBITDA margins of 27.0-27.5%.
Zurn Elkay (NYSE: ZWS) grows Q1 2026 revenue 11% with higher margins
Zurn Elkay (NYSE: ZWS) reported strong financial results for Q1 2026, with net sales increasing 11.4% to $433.0 million and diluted EPS rising to $0.35 from $0.26 in the prior year. The company achieved significant margin expansion, with income from operations growing 29.5% and operating margin improving to 19.0%. These positive results were driven by core sales growth across product categories, price realization, and productivity initiatives, while the company maintained a healthy balance sheet and actively repurchased shares.
Press Release: Zurn Elkay Water Solutions Reports First Quarter 2026 Financial Results
This press release from Zurn Elkay Water Solutions announces its first-quarter 2026 financial results. The company provides an overview of its performance during this period, likely including key financial metrics and highlights. This information is important for investors and analysts tracking the company's financial health.
Zurn Elkay Water Solutions Reports First Quarter 2026 Financial Results
Zurn Elkay Water Solutions reported strong first-quarter 2026 financial results, with net sales increasing 11% to $433 million and adjusted EBITDA growing 18% to $116 million. The company's diluted EPS from continuing operations rose to $0.35, up from $0.24 in the prior year, attributed to successful growth initiatives and operational execution. Zurn Elkay also provided an optimistic outlook for the second quarter, expecting core sales growth of 8% to 9% and further adjusted EBITDA margin expansion.
Zurn Elkay Water Solutions Reports 10 Percent Organic Sales Growth
Zurn Elkay Water Solutions reported strong financial results for the fourth quarter of 2025, including a 10% organic sales increase and a 14% rise in EBITDA. The company generated $317 million in free cash flow for the full year and significantly reduced its leverage to 0.4x. Chairman and CEO Todd Adams attributed this success to effective supply chain strategies and their Zurn Elkay Business System, highlighting a focus on continued growth for 2026.
Earnings Flash (ZWS) Zurn Elkay Water Solutions Corporation Reports Q1 Revenue $433.0M, vs. FactSet Est of $418.9M
Zurn Elkay Water Solutions Corporation (ZWS) announced its Q1 2026 revenue reached $433.0 million, surpassing FactSet's estimate of $418.9 million. The company also reported Q1 adjusted EPS of $0.41 per share, exceeding the FactSet estimate of $0.36. This news was accompanied by various insider stock sales and an adjustment in RBC Capital's price target for the company.
If EPS Growth Is Important To You, Zurn Elkay Water Solutions (NYSE:ZWS) Presents An Opportunity
Zurn Elkay Water Solutions (NYSE:ZWS) has shown strong EPS growth of 45% annually over the last three years, which is a positive indicator for long-term investors. The company's revenue also grew by 8.3% to US$1.7 billion, and insiders hold a significant stake worth US$178 million, aligning their interests with shareholders. This rapid EPS growth and insider commitment suggest ZWS could be an interesting investment opportunity worth monitoring.
Zurn Elkay Water Sol stock (US98986M1036): Why Google Discover changes matter more now
Google's 2026 Discover Core Update significantly impacts how investors receive information on stocks like Zurn Elkay Water Solutions (ZWS) by prioritizing mobile-first and tailored financial content. This update proactively delivers insights, such as water infrastructure trends and sustainability initiatives, directly to users' Google app feeds. For Zurn Elkay shareholders, this means faster access to validated developments and analysis without active searching, offering a quicker edge in tracking the company's performance and market context.
Robeco Institutional Asset Management B.V. Takes Position in Zurn Elkay Water Solutions Cor $ZWS
Robeco Institutional Asset Management B.V. has acquired a new stake in Zurn Elkay Water Solutions Cor (NYSE:ZWS) during the fourth quarter, purchasing 24,041 shares valued at approximately $1.12 million. Other institutional investors have also adjusted their holdings, with institutional ownership now standing at 83.33%. Zurn Elkay reported strong Q4 results, beating EPS and revenue estimates, and announced a quarterly dividend of $0.11 per share.
Director David Longren receives 607-share stock award at Zurn Elkay (NYSE: ZWS)
Zurn Elkay Water Solutions director David C. Longren was granted 607 shares of common stock as a form of payment for director fees on April 15, 2026, priced at $47.39 per share. These restricted stock units vested immediately, but the payout is deferred until six months after his directorship ends. Following this transaction, Longren's direct holdings in ZWS amount to 98,217 shares.
Director Rosemary Schooler (ZWS) receives 528-share equity grant as board fees
Zurn Elkay Water Solutions director Rosemary Schooler received an equity grant of 528 shares of common stock as compensation for her board fees. The grant, structured as restricted stock units, vested immediately at $47.39 per share, increasing her direct holdings to 61,772 shares. These units will be paid out six months after she ceases serving as a director, indicating a compensation-related award rather than an open-market purchase.
Zurn Elkay (ZWS) director Peggy Troy receives 607-share equity fee grant
Zurn Elkay Water Solutions Corp director Peggy Troy received a grant of 607 shares of Common Stock as an equity-based fee on April 15, 2026. These shares, valued at $47.39 each, were granted as restricted stock units that vested immediately but will be paid out six months after her service as a director ends. Following this transaction, Troy's direct holdings in ZWS amount to 65,124 shares.
Director receives 660-share equity grant at Zurn Elkay (NYSE: ZWS)
Zurn Elkay Water Solutions Corp director George C. Moore was granted 660 shares of common stock at $47.39 per share as part of his board compensation. This grant, totaling $31,277.40, increased his direct holdings to 120,292 shares. The equity grant is in the form of restricted stock units that vested immediately but will only be paid out six months after he ceases service as a director.
