James Hardie Issues Unquoted Shares to Settle AZEK Merger Equity Awards

James Hardie ( (AU:JHX) ) has provided an update.

On 12 January 2026, James Hardie Industries issued 4,074 unquoted ordinary shares (ASX code JHXAM) at US$0.6885 per share, as disclosed in an Appendix 3G lodged on 19 January 2026. The new shares were issued in respect of the settlement of certain outstanding AZEK equity awards following the completion of James Hardie’s merger with The AZEK Company on 1 July 2025, under an agreement first flagged to the market in March 2025; these securities are not quoted, and form part of the broader post‑transaction capital structure, which now comprises 430,436,032 quoted CHESS Depositary Interests and 149,602,365 unquoted ordinary shares alongside other unquoted equity instruments. The company also confirmed it had previously secured a waiver from ASX Listing Rule 2.4 in July 2025 to facilitate issuance of these unquoted securities, underscoring the ongoing integration of AZEK and modest dilution for existing holders as James Hardie aligns legacy AZEK incentive arrangements with its own capital base.

The most recent analyst rating on (AU:JHX) stock is a Buy with a A$41.70 price target. To see the full list of analyst forecasts on James Hardie stock, see the AU:JHX Stock Forecast page.

More about James Hardie

James Hardie Industries plc is a global building materials manufacturer best known for its fiber cement siding and related exterior products, with shares traded on the ASX via CHESS Depositary Interests. The company is focused on residential and commercial construction markets across key regions, and has recently expanded its portfolio and scale through the acquisition of The AZEK Company Inc., including assuming and settling AZEK equity-based awards.

Average Trading Volume: 4,756,711

Technical Sentiment Signal: Hold

Current Market Cap: A$20.16B

Learn more about JHX stock on TipRanks’ Stock Analysis page.