Alan Palmer - Oct 15, 2021 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Role: EVP, Chief Financial Officer
Signature: /s/ R. Alan Palmer
Stock symbol: ROAD
Transactions as of: Oct 15, 2021
Transactions value $: $0
Form type: 4
Date filed: 10/15/2021, 02:54 PM
Previous filing: Jun 24, 2021
Next filing: Oct 27, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ROAD	Class A Common Stock	Options Exercise	$0	+10K	+42.55%	$0.00	33.5K	Oct 15, 2021	Direct	F1, 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	ROAD	Class B Common Stock	Conversion of derivative security	$0	-10K	-7.13%	$0.00	130K	Oct 15, 2021	Class A Common Stock	10K		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	As permitted by the amended and restated certificate of incorporation of Construction Partners, Inc. (the "Issuer"), the reporting person has elected to convert the reported number of shares of Class B common stock, par value $0.001 per share ("Class B common stock") on a one-for-one basis into shares of Class A common stock, par value $0.001 per share ("Class A common stock").
F2	Includes 20,000 restricted shares of Class A common stock with time-based vesting criteria previously granted to the reporting person under the Issuer's 2018 Equity Incentive Plan that vest in one-half installments on September 30, 2024 and 2025. Under the terms of the award agreement, the reporting person has sole voting power with respect to the reported shares.
F3	Each share of Class B common stock is convertible into one share of Class A common stock (i) at any time at the option of the holder or (ii) upon any transfer, except for certain transfers described in the Company'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.