rock-20260626
FALSEFALSE00009125620000912562iso4217:USDxbrli:pure00009125622025-01-012025-12-310000912562rock:EBP007Member2025-01-012025-12-310000912562rock:EBP007Memberus-gaap:MutualFundMember2025-12-310000912562rock:EBP007Memberus-gaap:MutualFundMember2024-12-310000912562rock:EBP007Memberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMember2025-12-310000912562rock:EBP007Memberus-gaap:DefinedBenefitPlanCommonCollectiveTrustMember2024-12-310000912562rock:EBP007Memberus-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMember2025-12-310000912562rock:EBP007Memberus-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMember2024-12-310000912562rock:EBP007Memberus-gaap:CashEquivalentsMember2025-12-310000912562rock:EBP007Memberus-gaap:CashEquivalentsMember2024-12-310000912562rock:EBP007Member2025-12-310000912562rock:EBP007Member2024-12-310000912562rock:EBP007Member2024-01-012024-12-310000912562rock:EBP007Member2023-12-310000912562rock:EBP007Memberrock:EBPEmployerMatchingContributionThresholdOneMember2025-01-012025-12-310000912562rock:EBP007Memberrock:EBPEmployerMatchingContributionThresholdTwoMember2025-01-012025-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel1Member2025-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel2Member2025-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel3Member2025-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel12And3Member2025-12-310000912562us-gaap:DefinedBenefitPlanCommonCollectiveTrustMemberrock:EBP007Memberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2025-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel1Member2025-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel2Member2025-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel3Member2025-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel12And3Member2025-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel1Member2025-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel2Member2025-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel3Member2025-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel12And3Member2025-12-310000912562rock:EBP007Memberus-gaap:FairValueInputsLevel1Member2025-12-310000912562rock:EBP007Memberus-gaap:FairValueInputsLevel2Member2025-12-310000912562rock:EBP007Memberus-gaap:FairValueInputsLevel3Member2025-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel1Member2024-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel2Member2024-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel3Member2024-12-310000912562us-gaap:MutualFundMemberrock:EBP007Memberus-gaap:FairValueInputsLevel12And3Member2024-12-310000912562us-gaap:DefinedBenefitPlanCommonCollectiveTrustMemberrock:EBP007Memberus-gaap:FairValueMeasuredAtNetAssetValuePerShareMember2024-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel1Member2024-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel2Member2024-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel3Member2024-12-310000912562us-gaap-ebp:EmployeeBenefitPlanEmployerCommonStockMemberrock:EBP007Memberus-gaap:FairValueInputsLevel12And3Member2024-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel1Member2024-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel2Member2024-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel3Member2024-12-310000912562us-gaap:CashEquivalentsMemberrock:EBP007Memberus-gaap:FairValueInputsLevel12And3Member2024-12-310000912562rock:EBP007Memberus-gaap:FairValueInputsLevel1Member2024-12-310000912562rock:EBP007Memberus-gaap:FairValueInputsLevel2Member2024-12-310000912562rock:EBP007Memberus-gaap:FairValueInputsLevel3Member2024-12-310000912562rock:EBP007Member2022-01-012022-12-310000912562rock:EBP007Member2021-01-012021-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity 500 Index Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Contrafund K62025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20102025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20152025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20202025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20252025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20302025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20352025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20402025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20452025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20502025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20552025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20602025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20652025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Fund K 20702025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Freedom Income K2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Global ex US Index Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Government Money Market Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Small Cap Index Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Strategic Income Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity US Bond Index Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Fidelity Mid Cap Index Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Hartford International Opportunities Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Wasatch Core Growth Fund Institutional Class Shares2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | JHancock Bond R62025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Columbia Dividend Income Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Vanguard Small Cap Value Index Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Blackrock Emerging Market Fund2025-12-310000912562rock:EBP007MemberRegistered Investment Companies and Cash Equivalents | Cohen & Steers Real Estate Securities Fund2025-12-310000912562rock:EBP007Memberrock:EBPOtherInvestmentAndCashEquivalentsMember2025-12-310000912562rock:EBP007MemberCommon Collective Trust | Fidelity Managed Income Portfolio2025-12-310000912562rock:EBP007MemberEmployer Securities | Gibraltar Stock Fund2025-12-310000912562rock:EBP007Membersrt:MinimumMember2025-01-012025-12-310000912562rock:EBP007Membersrt:MaximumMember2025-01-012025-12-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 11-K

(Mark One)
( X )ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2025

OR
( )TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _________________ to ____________________


Commission File Number 000-22462


A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

GIBRALTAR 401(k) PLAN

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

GIBRALTAR INDUSTRIES, INC.
3556 Lake Shore Road
P.O. Box 2028
Buffalo, New York 14219-0228





SIGNATURES
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

GIBRALTAR 401(k) PLAN
(Name of Plan)
 
Date: June 26, 2026
                            /s/ Jeffrey J. Watorek
                            Jeffrey J. Watorek
                            Member, Gibraltar 401(k) Retirement Plan Committee




Gibraltar 401(k) Plan
Gibraltar 401(k) Plan
Financial Statements and Supplemental Schedules
December 31, 2025 and 2024



Gibraltar 401(k) Plan
Index
 
 
  Page(s)
   
Report of Independent Registered Public Accounting Firm - 2025 
Report of Independent Registered Public Accounting Firm - 2024
   
Financial Statements  
Statements of Net Assets Available for Benefits 
Statements of Changes in Net Assets Available for Benefits 
Notes to Financial Statements 
   
Supplemental Schedules  
Schedule H, Line 4i – Schedule of Assets (Held at End of Year) 
Schedule H, Line 4a – Schedule of Delinquent Participant Contributions 
Exhibit  
 
  
   















REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the 401(k) Retirement Plan Committee, Plan Participants
and Plan Administrator of the Gibraltar 401(k) Plan:
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Gibraltar 401(k) Plan (the "Plan") as of December 31, 2025, the related statement of changes in net assets available for benefits for the year ended December 31, 2025, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2025, and the changes in net assets available for benefits for the year ended December 31, 2025, in conformity with accounting principles generally accepted in the United States of America.
Other Matter
The financial statements of the Gibraltar 401(k) Plan as of December 31, 2024 and for the year ended December 31, 2024 were audited by Freed Maxick, P.C. On August 1, 2025, Freed Maxick, P.C. joined with WithumSmith+Brown, P.C. Freed Maxick, P.C. expressed an unqualified opinion on those financial statements dated June 18, 2025.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purposes of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.
Supplemental Information
The supplemental information in the accompanying schedule H, line 4i – schedule of assets (held at end of year) as of December 31, 2025 and schedule H, Line 4a – schedule of delinquent participant contributions for the year ended December 31, 2025, have been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ Withum Smith+Brown, P.C.
We have served as the auditor of the Plan since 2004.
Buffalo, New York
June 26, 2026
PCAOB ID Number 100
1


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the 401(k) Retirement Plan Committee,
Plan Participants and Plan Administrator of
the Gibraltar 401(k) Plan
Opinion on the Financial Statements
We have audited the accompanying statement of net assets available for benefits of the Gibraltar 401(k) Plan (the Plan) as of December 31, 2024, and the related statement of changes in net assets available for benefits for the year then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024, and the changes in net assets available for benefits for the year then ended, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provide a reasonable basis for our opinion.

/s/ Freed Maxick, P.C.
We have served as the Plan's auditor since 2004.
Buffalo, New York
June 18, 2025

2


Gibraltar 401(k) Plan
Statements of Net Assets Available for Benefits
December 31, 2025 and 2024                                        
 December 31,
 20252024
Assets  
Investments at fair value:  
Shares of registered investment companies$179,297,837 $161,335,162 
Common collective trust3,582,040 4,211,546 
Employer securities1,902,650 2,486,444 
Cash equivalents4,413,121 4,685,217 
 189,195,648 172,718,369 
Receivables:  
Notes receivable from participants2,632,943 2,573,684 
Net assets available for benefits$191,828,591 $175,292,053 

The accompanying notes are an integral part of these financial statements.

3


Gibraltar 401(k) Plan
Statements of Changes in Net Assets Available for Benefits
For the Years Ended December 31, 2025 and 2024         
 Year Ended December 31,
 20252024
Additions:  
Participant contributions$10,390,086 $9,942,686 
Participant rollover contributions864,532 1,833,439 
Employer contributions4,937,971 4,831,045 
Net appreciation in fair value of investments20,131,592 18,314,116 
Interest and dividends8,482,155 4,388,908 
Total additions44,806,336 39,310,194 
Deductions:  
Benefits paid to participants(28,311,479)(23,403,553)
Refunds to the plan41,681 44,955 
Total deductions(28,269,798)(23,358,598)
Net increase in net assets available for benefits16,536,538 15,951,596 
Net assets available for benefits:
Beginning of year175,292,053 159,340,457 
End of year$191,828,591 $175,292,053 

The accompanying notes are an integral part of these financial statements.
4




Gibraltar 401(k) Plan
Notes to Financial Statements                                      

1. DESCRIPTION OF PLAN

The following is a brief description of the Gibraltar 401(k) Plan (the Plan) and is provided for general information purposes only. Participants should refer to the Plan Document and Summary Plan Description for more complete information.
General
The Plan is a defined contribution plan as permitted under Section 401(k) of the Internal Revenue Code. The Plan is sponsored by Gibraltar Steel Corporation of New York (the Company), a subsidiary of Gibraltar Industries, Inc., for the benefit of eligible employees of the Company and its affiliates. The Company is the Plan Administrator, through the Gibraltar 401(k) Retirement Plan Committee. The Plan is subject to the Employee Retirement Income Security Act of 1974, as amended. The 401(k) Retirement Plan Committee is responsible for oversight of the Plan and determines the appropriateness of the Plan’s investment offerings, monitors investment performance and reports to the Company's Board of Directors.
Eligibility
All employees of the Company, those affiliates of the Company which have adopted the Gibraltar 401(k) Plan, and employees subject to a collective bargaining agreement that provides for coverage under the Plan, are eligible to participate in the Plan immediately upon hire. Upon completion of six months of service, employees are eligible to begin receiving the employer match.
Participant Contributions
Participants may contribute up to 100% of their annual compensation, not to exceed the ceiling imposed by the Internal Revenue Service of $23,500 and $23,000 for 2025 and 2024, respectively, as prescribed by the Plan Document. If a participant is age 50 or over, the ceiling is increased to $31,000 and $30,500 for 2025 and 2024, respectively. The Plan provides an Automatic Enrollment feature for employees who do not affirmatively make an elective deferral after six months of employment to the Plan, to automatically have three percent (3%) pre-tax deferral withheld each pay period and contributed to the Plan's Qualified Default Investment Alternative (QDIA) until changed by the participant.

The Plan accepts participant-directed Roth Elective Deferrals, Roth Rollovers, Roth In-Plan Conversions, Pre-Tax Deferrals and Pre-Tax Rollovers.

Participant Rollover Contributions
For the years ended December 31, 2025 and 2024, the rollovers into the Plan were the result of newly hired employees rolling their balances from other qualified retirement plans. An aggregate of $864,532 and $1,833,439 was rolled into the Plan during the years ended December 31, 2025 and 2024, respectively, and is included in participant rollover contributions on the statements of changes in net assets available for benefits.

Employer Contribution
The Company matches contributions to the Plan equal to 100% of the first 3% of the participants’ elective deferrals and 50% of the following 2% of the participants’ elective deferrals at the time of salary reduction. The Company match for employees subject to a collective bargaining agreement follows the terms of their respective agreement.



5


Gibraltar 401(k) Plan
Notes to Financial Statements                                     

1. DESCRIPTION OF PLAN (CONTINUED)

Administration
Fidelity Management Trust Company is the Plan Trustee, record keeper, and served as the custodian of the Plan’s assets for the years ended December 31, 2025 and 2024. The Administrator of the Plan may specify whether the investments of the Trust Fund shall be managed in whole or in part by the Trustee, one or more investment managers, the Administrator, or the participants as provided for by the Trust Agreement.

Plan Termination
Although it has not expressed any intent to do so, the Company has the right to terminate, amend, or modify the Plan at any time subject to the provisions of ERISA.

Participant Accounts
Separate accounts are maintained for each plan participant. Each participant’s account is credited with the participant’s contribution and an allocation of the Company’s contribution and Plan earnings. Participant accounts are charged with an allocation of administrative expenses that are paid by the Plan. Allocations are based on an annual fixed fee, participant earnings, account balances, or specific participant transactions. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested account.

Vesting and Forfeitures
Salary reduction contributions and the earnings thereon are at all times fully vested and non-forfeitable. All active participants are 100% vested in employer contributions.

Benefit Payments
Upon retirement, termination of employment, death or disability, participants or their beneficiaries may elect to receive their account balances in a single sum or systematic installments.

Notes Receivable from Participants
Participants may borrow against their vested account balance a minimum of $1,000 up to a maximum equal to the lesser of $50,000 or 50% of their vested account balance. Notes receivable shall not exceed five years, except for a maximum of ten years for the purchase of a primary residence. The notes receivable are secured by the vested balance in the participant's account and bear interest at the prime rate plus 1%. Principal and interest are required to be repaid in equal installments over the term of the receivable.



6


Gibraltar 401(k) Plan
Notes to Financial Statements                                     

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Accounting
The financial statements of the Plan are prepared on the accrual basis of accounting.
Use of Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of additions and deductions during the reporting period. Actual results could differ from those estimates.
Investment Valuation and Income Recognition
Participants direct the investment of their contributions into various investment options offered by the Plan. Participants may change their investment allocation on a daily basis. The Plan's investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan’s 401(k) Retirement Plan Committee determines the Plan’s valuation policies utilizing information provided by the investment advisers and custodian. See Note 3 for discussion of the fair value measurements used to value the Plan’s investments. Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation included the Plan’s gains and losses on investments bought and sold as well as held during the years.
Contributions
Contributions from Plan participants and the matching contributions from the employer are recorded in the year in which the employee contributions are withheld from compensation.
Benefits
Benefits are recorded when paid.
Plan Expenses
All of the costs of administration of the Plan and Trust are paid by the Company or the Participants. Brokerage commissions and similar costs of acquiring or selling securities (if any) that are incurred by the investment funds are borne by the participant. Origination fees for each loan are also borne by the participant. Investment related expenses are included in net appreciation in fair value of investments.
Notes Receivable from Participants
Notes receivable from participants are valued at their unpaid principal balance plus any accrued but unpaid interest at December 31, 2025 and 2024. Interest income is recorded on the accrual basis. Related fees are recorded as administrative expenses and are expensed when they are incurred. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan Document.
Subsequent Events
The Plan administrator has evaluated subsequent events through the date and time the financial statements were issued.

7



Gibraltar 401(k) Plan
Notes to Financial Statements                                     

3. FAIR VALUE MEASUREMENTS

Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 820, “Fair Value Measurements,” defines fair value and establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Plan can access at the measurement date. Level 2 inputs are quoted prices to similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on our own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. Following is a description of the valuation techniques used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2025 and 2024.
Shares of Registered Investment Companies
These investments are valued at the net asset value of shares held by the registered investment companies at year-end. The investments are measured at fair value using quoted prices for identical assets, which are readily available Level 1 inputs.
Common Collective Trust
This investment is comprised of fully benefit-responsive investment contracts issued by insurance companies and other financial institutions (Contracts), fixed income securities, and money market funds. Under the terms of the Contracts, the assets of the fund are invested in fixed income securities (which may include, but are not limited to, U.S. Treasury and agency bonds, corporate bonds, mortgage-backed securities, commercial mortgage-backed securities, asset backed securities, and collective investment vehicles and shares of investment companies that invest primarily in fixed income securities) and shares of money market funds. The net asset value (NAV) is used as a practical expedient to estimate fair value. This practical expedient would not be used if it is determined to be probable that the common collective trust will sell the investment for an amount different from the reported NAV. Participant transactions (purchases and sales) may occur daily.
Employer Securities
These investments consist of a unitized stock fund which consists of employer securities valued at the closing price reported on the active market on which the individual securities are traded, and a small money market fund for liquidity purposes. As a result, the value of the investment is based on Level 1 inputs.
Cash Equivalents
These investments are primarily composed of money market funds. Money market funds are public investment vehicles valued using $1 for the net asset value and are classified within Level 1 of the valuation hierarchy.

The following table provides the assets carried at fair value measured on a recurring basis as of December 31, 2025:
Level 1Level 2Level 3Total
Shares of registered investment companies$179,297,837 $ $ $179,297,837 
Common collective trust (1)— — — 3,582,040 
Employer securities1,902,650   1,902,650 
Cash equivalents4,413,121   4,413,121 
Total assets at fair value$185,613,608 $ $ $189,195,648 
8


Gibraltar 401(k) Plan
Notes to Financial Statements                                     

3. FAIR VALUE MEASUREMENTS (CONTINUED)

The following table provides the assets carried at fair value measured on a recurring basis as of December 31, 2024:
Level 1Level 2Level 3Total
Shares of registered investment companies$161,335,162 $ $ $161,335,162 
Common collective trust (1)— — — 4,211,546 
Employer securities2,486,444   2,486,444 
Cash equivalents4,685,217   4,685,217 
Total assets at fair value$168,506,823 $ $ $172,718,369 

NOTE (1): In accordance with FASB ASC 820-10, certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits.

The following table summarizes investments measured at fair value based on NAV per share as of December 31, 2025 and 2024, respectively. There are no participant redemption restrictions for these investments; the redemption notice period is applicable only to the Plan.
December 31, 2025
Fair ValueUnfunded CommitmentsRedemption Frequency (if currently eligible)Redemption Notice Period
Common collective trust$3,582,040 N/ADaily12 months
December 31, 2024
Fair ValueUnfunded CommitmentsRedemption Frequency (if currently eligible)Redemption Notice Period
Common collective trust$4,211,546 N/ADaily12 months

4. TAX STATUS

The Plan adopted a non-standardized pre-approved profit-sharing plan sponsored by Fidelity. The non-standardized pre-approved plan has received an opinion letter dated June 30, 2020 form the IRS as to the non-standardized pre-approved plan's qualified status. The opinion letter has been relied upon by this Plan. The Plan Administrator believes the Plan is designed and is being operated in compliance with the applicable provisions of the IRC.

Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the plan and recognize a tax liability if the plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

9


Gibraltar 401(k) Plan
Notes to Financial Statements                                     

5. PARTIES IN INTEREST

At December 31, 2025 and 2024, certain Plan investments are managed by Fidelity Management Trust Company (Fidelity), the Plan’s trustee, and therefore these transactions qualify as party in interest transactions. The Plan also holds notes receivable representing participant loans. Additionally, the Plan allows participants to elect to invest in the common stock of Gibraltar Industries, Inc. Transactions in such investments qualify as party in interest transactions which are exempt from the prohibited transaction rules. Fidelity provides certain administrative services to the Plan pursuant to a Trust Agreement between the Company and Fidelity. Fidelity receives revenue from mutual fund service providers for services Fidelity provides to the funds. This revenue is used to offset certain amounts owed to Fidelity for its administrative services to the Plan.

Each participant account is subject to administrative fees. Any revenue sharing that Fidelity receives is credited to the participant's account that resulted in the revenue share, less any amounts to cover the participant's administrative fees. Fidelity remits this excess on a quarterly basis. Each participant account, the Plan, or the Company may make a payment to Fidelity for administrative expenses not covered by revenue sharing.

6. PROHIBITED TRANSACTION

The Company inadvertently failed to deposit approximately $1,035 and $2,691 of participant elective deferral contributions and loan payments for the years ended December 31, 2022 and 2021, respectively, within the required time frame as stated by United States Department of Labor (DOL) regulations. The Company will correct the errors by contributing earnings related to the delinquent contributions and loan repayments and filing a Voluntary Fiduciary Correction Program (VFCP) application with the DOL.

7. RISKS AND UNCERTAINTIES

The Plan provides for various investment options. Investment securities are exposed to various risks, such as interest, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in the statements of net assets available for benefits.
10


Gibraltar 401(k) Plan
EIN 16-0991536
Plan #007
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2025
(a)(b)(c)(d)
Identity of Issuer, Borrower, Lessor or Similar PartyDescription of Investment Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity ValueCurrent Value
Fidelity 500 Index FundMutual Fund$29,216,035 
Fidelity Contrafund K6Mutual Fund26,869,615 
Fidelity Freedom Fund K 2010Mutual Fund241,155 
Fidelity Freedom Fund K 2015Mutual Fund429,923 
Fidelity Freedom Fund K 2020Mutual Fund2,986,414 
Fidelity Freedom Fund K 2025Mutual Fund7,387,530 
Fidelity Freedom Fund K 2030Mutual Fund13,711,307 
Fidelity Freedom Fund K 2035Mutual Fund13,165,401 
Fidelity Freedom Fund K 2040Mutual Fund12,480,566 
Fidelity Freedom Fund K 2045Mutual Fund9,775,013 
Fidelity Freedom Fund K 2050Mutual Fund7,499,747 
Fidelity Freedom Fund K 2055Mutual Fund8,033,022 
Fidelity Freedom Fund K 2060Mutual Fund4,577,839 
Fidelity Freedom Fund K 2065Mutual Fund1,461,306 
Fidelity Freedom Fund K 2070Mutual Fund263,454 
Fidelity Freedom Income KMutual Fund517,569 
Fidelity Global ex US Index FundMutual Fund3,660,529 
Fidelity Government Money Market FundMoney Market Fund4,413,121 
Fidelity Small Cap Index FundMutual Fund4,648,859 
Fidelity Strategic Income FundMutual Fund935,391 
Fidelity US Bond Index FundMutual Fund5,518,146 
Fidelity Mid Cap Index FundMutual Fund6,737,943 
Hartford International Opportunities FundMutual Fund4,273,034 
Wasatch Core Growth Fund Institutional Class SharesMutual Fund3,628,339 
JHancock Bond R6Mutual Fund1,656,090 
Columbia Dividend Income FundMutual Fund6,352,086 
Vanguard Small Cap Value Index FundMutual Fund1,004,496 
Blackrock Emerging Market FundMutual Fund1,571,546 
Cohen & Steers Real Estate Securities FundMutual Fund695,482 
Registered Investment Companies and Cash Equivalents Total183,710,958
 
Common Collective Trust: 
*Fidelity Managed Income PortfolioCommon/Collective Trust Fund3,582,040
Employer Securities: 
*Gibraltar Stock FundCommon Stock1,902,650
Notes Receivable from Participants: 
*
Participant Loans (Interest rates are fixed at prime plus 1% and currently range from 4.25% to 9.50%)
Participant loans bearing various dates and interest rates2,632,943 
 $191,828,591
* Denotes an investment issued or managed by an entity known to be a party-in-interest to the Plan, as defined by ERISA.
Column (d) cost information omitted for participant-directed investments.
 



11


Gibraltar 401(k) Plan
EIN 16-0991536
Plan #007
Schedule H, Line 4a – Schedule of Delinquent Participant Contributions
December 31, 2025


Participant Contributions Transferred Late to PlanTotal that Constitute Nonexempt Prohibited TransactionTotal Fully Corrected Under VFCP and PTE 2002-51
Check here if Late Participant Loan Repayments are included:
Contributions Not CorrectedContributions Corrected Outside VFCPContributions Pending Correction in VFCP
$3,726$$$
12
Document




Exhibit 23.1


CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


We consent to the incorporation by reference in the Registration Statement No. 33-87034 on Form S-8 of Gibraltar Industries, Inc., formerly known as Gibraltar Steel Corporation, of our report dated June 18, 2025, relating to our audit of the financial statements of the Gibraltar 401(k) Plan, which appears in this Annual Report on Form 11-K of the Gibraltar 401(k) Plan for the year ended December 31, 2025.

/s/ Freed Maxick, P.C.

Buffalo, New York
June 26, 2026



Document




Exhibit 23.2


CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


We consent to the incorporation by reference in Registration Statement No. 33-87034 on Form S-8 of Gibraltar Industries, Inc., formerly known as Gibraltar Steel Corporation, of our report dated June 26, 2026, relating to our audit of the financial statements and supplemental schedules of the Gibraltar 401(k) Plan as of and for the year ended December 31, 2025, which appears in this Annual Report on Form 11-K of the Gibraltar 401(k) Plan for the year ended December 31, 2025.

/s/ WithumSmith+Brown, P.C.

Buffalo, New York
June 26, 2026