Michael Haack, President and CEO of Eagle Materials Inc. (EXP), has filed 57 Form 4 transactions with the SEC, all involving the company’s common stock. The aggregate value of open-market sales totals $18.2 million, with no corresponding open-market purchases or acquisitions recorded during the reporting period. The transaction pattern is overwhelmingly one-directional: sales back to the issuer (code D) and open-market sales (code S) dominate the dollar volume, while the most recent filings show a mix of compensatory grants (code A), option exercises (code M), and automatic tax-withholding dispositions (code F).
The most recent activity, dated July 20, 2026, consists of three zero-value grants (code A), which are compensation awards rather than discretionary trades. In the preceding months, Haack executed option exercises and offsetting tax-related sales: on May 22, 2026, he exercised options valued at $702,331.51 and had shares worth $276,392.44 withheld for taxes; on March 31, 2026, he exercised options valued at $722,551.50 while $867,751.50 in shares were withheld for tax obligations. These transactions are mechanical in nature—exercises paired with automatic F-code dispositions—rather than indicative of directional conviction.
The absence of any open-market purchases (code P) across all 57 filings, combined with the $18.2 million in total sell value, points to a consistent net-selling posture over the reporting window. However, the recent cluster of A-code grants and M/F-code pairs suggests the current activity is largely driven by equity compensation cycles and tax withholding mechanics, not discretionary portfolio shifts. The last open-market sale occurred prior to the most recent grant-heavy period, and no new S-code transactions appear in the latest filings.
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