Adam Dante Zambanini, President and CEO of Trex Co Inc, filed a Form 4/A amendment on November 9, 2026, to correct the price reported for shares acquired upon settlement of stock appreciation rights exercised on November 5, 2026.

Key Highlights

  • Amendment purpose: The filing corrects the acquisition price in Table I, which was inadvertently reported as $56.01 per share rather than $0, the correct price for shares issued upon SAR settlement.
  • SAR exercise: Zambanini exercised 2,170 stock appreciation rights on November 5, 2026, with a grant price of $17.523 per share.
  • Shares issued: Based on a fair market value of $56.01 per share on the exercise date, 1,491 shares of common stock were issued in settlement of the SARs.
  • Tax-related sale: On November 9, 2026, Zambanini sold 500 shares at a weighted average price of $55.84, in a range from $55.825 to $55.85, to satisfy tax obligations arising from the SAR exercise.
  • Remaining ownership: Following both transactions, Zambanini directly beneficially owned 235,505 shares of common stock.
  • SAR award fully exercised: According to the filing, "no stock appreciation rights remain outstanding under this award" following the exercise.

Trex CEO Zambanini's SAR Exercise and Corrected Settlement Disclosure

The Form 4/A filed by Adam Dante Zambanini, President and CEO of Trex Co Inc (NYSE:TREX), amends an earlier Form 4 to correct a reporting error. According to the filing, the original submission inadvertently listed $56.01 per share as the acquisition price for the 1,491 shares received upon settlement of stock appreciation rights. The amendment states that $56.01 was the fair market value used to determine the settlement value of the SARs, not the price paid, and the correct price to report is $0. All other information in the original Form 4 remains unchanged, per the filing.

The underlying transactions involve Zambanini's exercise of 2,170 stock appreciation rights on November 5, 2026. Each SAR carried a grant price of $17.523 per share, and the filing states the exercise date fair market value was $56.01 per share. Because SARs settle in the excess value rather than requiring the holder to pay the exercise price, the 2,170 rights were settled through issuance of 1,491 shares, with no cash paid by Zambanini. The SAR expiration date was listed as February 15, 2027, and the filing confirms no rights remain outstanding under the award.

On November 9, 2026, Zambanini disposed of 500 shares at a weighted average sale price of $55.84, with individual transactions occurring at prices ranging from $55.825 to $55.85. The filing identifies this sale as being made to satisfy tax obligations arising from the SAR exercise. The filing was signed by Amy M. Fernandez by power of attorney on November 9, 2026.

What Was Disclosed

This amended filing corrects the reported price for shares acquired via SAR settlement from $56.01 to $0, discloses the exercise of 2,170 SARs yielding 1,491 shares, and reports a 500-share tax-driven sale, leaving Zambanini with 235,505 directly held shares.