MICHAEL G. HUEBERT - 19 May 2023 Form 4 Insider Report for ADVANCED DRAINAGE SYSTEMS, INC. (WMS)

Role: Executive Vice President
Signature: /s/ Michael G. Huebert, by Scott A. Cottrill as attorney-in-fact
Issuer symbol: WMS
Transactions as of: 19 May 2023
Net transactions value: -$26,358
Form type: 4
Filing time: 23 May 2023, 21:41:53 UTC
Previous filing: 22 May 2023
Next filing: 13 Jun 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	WMS	Common Stock	Tax liability	$15,545	-161	-0.36%	$96.55	44,879	19 May 2023	Direct	F1
transaction	WMS	Common Stock	Tax liability	$10,814	-112	-0.25%	$96.55	44,767	19 May 2023	Direct	F1
transaction	WMS	Common Stock	Award	$0	+2,031	+4.5%	$0.000000	46,798	22 May 2023	Direct
holding	WMS	Common Stock						28,680	19 May 2023	By KSOP	F2

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	WMS	Option to Purchase Common Stock	Award	$0	+4,463		$0.000000	4,463	22 May 2023	Common Stock	4,463	$96.51	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares withheld to satisfy Reporting Person's tax obligations in connection with the vesting of shares of restricted common stock of the Issuer.
F2	Represents current allocation under KSOP.
F3	The options vest in three equal annual installments beginning on May 21, 2024, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.