SunTx Capital Management Corp. - May 9, 2022 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Signature
NED N. FLEMING, III, /s/ Ned N. Fleming, III
Stock symbol
ROAD
Transactions as of
May 9, 2022
Transactions value $
$0
Form type
4
Date filed
5/11/2022, 06:39 PM
Previous filing
Dec 17, 2021
Next filing
Sep 14, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding ROAD Class A Common Stock 157K May 9, 2022 Direct F1, F2, F3
holding ROAD Class A Common Stock 4K May 9, 2022 By spouse of Ned N. Fleming, III
holding ROAD Class A Common Stock 55.2K May 9, 2022 Direct F4, F5
holding ROAD Class A Common Stock 56.2K May 9, 2022 Direct F6, F7
holding ROAD Class A Common Stock 37.2K May 9, 2022 By SunTx Fulcrum Fund Prime, L.P. F8, F9, F10, F11
holding ROAD Class A Common Stock 429K May 9, 2022 By SunTx Capital Partners II, L.P. F8, F9, F10, F12
holding ROAD Class A Common Stock 234K May 9, 2022 By SunTx Capital Partners II Dutch Investors, L.P. F8, F9, F10, F13

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ROAD Class B Common Stock Other $0 -2.28M -95.2% $0.00 115K May 9, 2022 Class A Common Stock 2.28M By SunTx Capital Partners, L.P. F8, F9, F10, F14, F15, F16
transaction ROAD Class B Common Stock Other $0 -175K -9.81% $0.00 1.61M May 9, 2022 Class A Common Stock 175K By SunTx Fulcrum Fund Prime, L.P. F8, F9, F10, F11, F14, F17
transaction ROAD Class B Common Stock Other $0 -125K -18.38% $0.00 553K May 9, 2022 Class A Common Stock 125K By SunTx Fulcrum Dutch Investors Prime, L.P. F8, F9, F10, F14, F18, F19
transaction ROAD Class B Common Stock Other $0 -2.7K -100% $0.00* 0 May 9, 2022 Class A Common Stock 2.7K By SunTx Capital Management Corp. F8, F9, F10, F14, F20, F21
transaction ROAD Class B Common Stock Other $0 +300K +260.69% $0.00 415K May 9, 2022 Class A Common Stock 300K By SunTx Capital Partners, L.P. F8, F9, F10, F14, F16, F22, F23
transaction ROAD Class B Common Stock Other $0 +1.23M +279.59% $0.00 1.66M May 9, 2022 Class A Common Stock 1.23M By Malachi Holdings Limited Partnership F14, F15, F24
transaction ROAD Class B Common Stock Other $0 +350K +379.68% $0.00 442K May 9, 2022 Class A Common Stock 350K By CJCT Associates Limited Partnership F14, F15, F25
transaction ROAD Class B Common Stock Other $0 +470K +322.16% $0.00 615K May 9, 2022 Class A Common Stock 470K By AMDG Associates Limited Partnership F14, F15, F26
transaction ROAD Class B Common Stock Other $0 +2.7K $0.00 2.7K May 9, 2022 Class A Common Stock 2.7K Direct F3, F14, F20
holding ROAD Class B Common Stock 272 May 9, 2022 Class A Common Stock 272 By Boyle Fleming & Co. Inc. F14, F27
holding ROAD Class B Common Stock 674 May 9, 2022 Class A Common Stock 674 By SunTx Capital II Management Corp. F8, F9, F10, F14, F28
holding ROAD Class B Common Stock 2.5M May 9, 2022 Class A Common Stock 2.5M By SunTx Capital Partners II, L.P. F8, F9, F10, F12, F14
holding ROAD Class B Common Stock 1.23M May 9, 2022 Class A Common Stock 1.23M By SunTx Capital Partners II Dutch Investors, L.P. F8, F9, F10, F13, F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by Ned N. Fleming, III, Craig Jennings, Mark R. Matteson, SunTx Fulcrum Fund Prime, L.P., SunTx Capital Partners, L.P., SunTx Fulcrum Dutch Investors Prime, L.P., SunTx Capital Management Corp., SunTx Capital Partners II, L.P., SunTx Capital Partners II Dutch Investors, L.P., and SunTx Capital II Management Corp. (collectively, the "Reporting Persons").
F2 Includes 42,500 restricted shares of Class A Common Stock of Construction Partners, Inc. (the "Issuer") granted to Ned N. Fleming, III under the Construction Partners, Inc. 2018 Equity Incentive Plan of which 28,333 shares will vest on January 1, 2024, and 14,167 shares will vest on January 1, 2025.
F3 Securities held directly by Ned N. Fleming, III.
F4 Includes 17,000 restricted shares of Class A Common Stock of the Issuer granted to Craig Jennings under the Construction Partners, Inc. 2018 Equity Incentive Plan of which 11,333 shares will vest on January 1, 2024, and 5,667 shares will vest on January 1, 2025.
F5 Securities held directly by Craig Jennings.
F6 Includes 17,000 restricted shares of Class A Common Stock of the Issuer granted to Mark R. Matteson under the Construction Partners, Inc. 2018 Equity Incentive of which 11,333 shares will vest on January 1, 2024, and 5,667 shares will vest on January 1, 2025.
F7 Securities held directly by Mark R. Matteson.
F8 The general partner of each of SunTx Fulcrum Fund Prime, L.P. ("SunTx Fulcrum Fund") and SunTx Fulcrum Dutch Investors Prime, L.P. ("SunTx Fulcrum Dutch Fund") is SunTx Capital Partners, L.P. ("SunTx Partners GP"). The general partner of SunTx Partners GP is SunTx Capital Management Corp. ("SunTx Capital Management"). The general partner of each of SunTx Capital Partners II, L.P. ("SunTx Partners II") and SunTx Capital Partners II Dutch Investors, L.P. ("SunTx Partners Dutch LP" and together with SunTx Fulcrum Fund, SunTx Fulcrum Dutch Fund, and SunTx Partners II, the "SunTx Funds") is SunTx Capital Partners II GP, L.P. ("SunTx Partners II GP"). The general partner of SunTx Partners II GP is SunTx Capital II Management Corp.
F9 (Continued from Footnote 8) ("SunTx Capital II Management," and together with SunTx Partners GP, SunTx Capital Management, and SunTx Partners II GP, the "SunTx Group"). Mr. Fleming, a director of the Issuer, is the sole shareholder and director of SunTx Capital Management and the majority shareholder and sole director of SunTx Capital II Management. Mr. Jennings and Mr. Matteson, each a director of the Issuer, are each executive officers of SunTx Capital Management and shareholders of SunTx Capital II Management. Mr. Fleming, Mr. Jennings, and Mr. Matteson may each be deemed to beneficially own securities of the Issuer held by certain entities in the SunTx Group, and each of SunTx Partners GP, SunTx Capital Management, SunTx Partners II GP, and SunTx Capital II Management may be deemed to beneficially own securities of the Issuer held by certain entities of the SunTx Funds.
F10 (Continued from Footnote 9) Each such entity and person disclaims beneficial ownership of such securities except to the extent of its or his pecuniary interest therein, and this report shall not be deemed an admission that any such entity or person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.
F11 These securities of the Issuer are directly held by SunTx Fulcrum Fund.
F12 These securities of the Issuer are directly held by SunTx Partners II.
F13 These securities of the Issuer are directly held by SunTx Partners Dutch LP.
F14 Each share of Class B common stock, par value $0.001 per share ("Class B common stock"), of the Issuer is convertible into one share of Class A common stock, par value $0.001 per share ("Class A common stock") of the Issuer (i) at any time at the option of the holder or (ii) upon any transfer, except for certain transfers described in the Issuer's amended and restated certificate of incorporation. In addition, upon the election of the holders of a majority of the then-outstanding shares of Class B common stock, all outstanding shares of Class B common stock will be converted into shares of Class A common stock. The holders of Class A common stock and Class B common stock vote as a single class on all matters submitted to a vote of stockholders. The holders of Class A common stock are entitled to one vote per share, and the holders of the Class B common stock are entitled to 10 votes per share. The shares of Class B common stock do not expire.
F15 SunTx Partners GP distributed these shares for no consideration.
F16 These securities of the Issuer are directly held by SunTx Partners GP.
F17 SunTx Fulcrum Fund distributed these shares for no consideration.
F18 SunTx Fulcrum Dutch Fund distributed these shares for no consideration.
F19 These securities of the Issuer are directly held by SunTx Fulcrum Dutch Fund.
F20 SunTx Capital Management distributed these shares for no consideration.
F21 These securities of the Issuer are directly held by SunTx Capital Management.
F22 SunTx Fulcrum Fund distributed 175,459 of these shares, and SunTx Fulcrum Dutch Fund distributed 124,541 of these shares, and in each case for no consideration.
F23 This amount represents the total shares held by SunTx Partners GP following the distributions reported in this Form 4.
F24 These securities of the Issuer are directly held by Malachi Holdings Limited Partnership, a limited partnership controlled by Ned N. Fleming, III. Mr. Fleming may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Fleming disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Fleming is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.
F25 These securities of the Issuer are directly held by CJCT Associates Limited Partnership, a limited partnership controlled by Craig Jennings. Mr. Jennings may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Jennings disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Jennings is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act of 1934, as amended, or for any other purpose.
F26 These securities of the Issuer are directly held by AMDG Associates Limited Partnership, a limited partnership controlled by Mark R. Matteson. Mr. Matteson may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Matteson disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Matteson is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act of 1934, as amended, or for any other purpose.
F27 These securities of the Issuer are directly held by Boyle Fleming & Co. Inc., a corporation controlled by Ned N. Fleming, III. Mr. Fleming may be deemed to beneficially own securities of the Issuer held by such corporation. Mr. Fleming disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Fleming is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose.
F28 These securities of the Issuer are directly held by SunTx Capital II Management.

Remarks:

Each of Ned N. Fleming, III, Craig Jennings and Mark R. Matteson serves on the Board of Directors of the Issuer. For purposes of Section 16 of the Exchange Act, the Reporting Persons other than Mr. Fleming, Mr. Jennings and Mr. Matteson are deemed directors by deputization by virtue of their representation on the Board of Directors of the Issuer.