Anil Seetharam - Mar 7, 2023 Form 4 Insider Report for ADVANCED DRAINAGE SYSTEMS, INC. (WMS)

Role
Director
Signature
/s/ Anil Seetharam
Stock symbol
WMS
Transactions as of
Mar 7, 2023
Transactions value $
$0
Form type
4
Date filed
3/9/2023, 03:51 PM
Previous filing
Sep 15, 2022
Next filing
Jul 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WMS Common Stock Other $0 -1.77M -54.63% $0.00 1.47M Mar 7, 2023 See Footnote F1, F2, F5
transaction WMS Common Stock Other $0 -30.6K -100% $0.00* 0 Mar 7, 2023 Berkshire Investors III LLC F3, F5
transaction WMS Common Stock Other $0 -28.9K -100% $0.00* 0 Mar 7, 2023 Berkshire Investors IV LLC F4, F5
transaction WMS Common Stock Other $0 +2.13K +30.84% $0.00 9.04K Mar 7, 2023 Direct F6
transaction WMS Common Stock Other $0 +466 +63.84% $0.00 1.2K Mar 7, 2023 By Family Trusts F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares held directly or indirectly by Berkshire Fund IX, L.P. ("BF IX"), Berkshire Fund IX-A, L.P. ("BF IX-A"), Stockbridge Fund, L.P. ("SF") and certain other accounts (collectively, the "Berkshire Entities"). Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC ("SA") is the general partner of SF. Berkshire Partners LLC ("BP") is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC ("SP") is the investment adviser to SF and such certain other accounts. Berkshire Partners Holdings LLC ("BPH") is the general partner of BPSP, L.P. ("BPSP"), which is the managing member of BP and SP.
F2 (continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by the Berkshire Entities. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
F3 Represents shares held by Berkshire Investors III LLC ("BI III"). The Reporting Person is a managing member of BI III. By virtue of the relationship described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BI III. The Reporting Person disclaims beneficial ownership of the shares held by BI III, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
F4 Represents shares held by Berkshire Investors IV LLC ("BI IV"). The Reporting Person is a managing member of BI IV. By virtue of the relationship described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BI IV. The Reporting Person disclaims beneficial ownership of the shares held by BI IV, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
F5 Represents Common Stock of the Issuer distributed by the Berkshire Entities (as defined aboove) to certain of their limited partners and members. The Reporting Person disclaims beneficial ownership in the reported securities except to the extent of his pecuniary interest, if any, therein.
F6 Represents Common Stock received as part of the distribution by the Berkshire Entities referred to in note (5) above.