Gregory A. Hoffman - Oct 20, 2021 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Signature
/s/ R. Alan Palmer, attorney-in-fact
Stock symbol
ROAD
Transactions as of
Oct 20, 2021
Transactions value $
-$6,574
Form type
4
Date filed
10/22/2021, 01:15 PM
Previous filing
May 14, 2021
Next filing
Jan 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROAD Class A Common Stock Tax liability -$6.57K -197 -0.59% $33.37 33.1K Oct 20, 2021 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class A common stock, par value $0.001 ("Class A common stock"), of Construction Partners, Inc. (the "Issuer") surrendered to the Issuer to satisfy tax withholding obligations upon the vesting of an award of restricted Class A common stock. Pursuant to the Construction Partners, Inc. 2018 Equity Incentive Plan (the "2018 Equity Incentive Plan") and the applicable award agreement, the number of shares withheld was determined using a value of $33.37 per share, based on the closing price for a share of Class A common stock on September 30, 2021, the vesting date.
F2 Includes 32,250 restricted shares of Class A common stock with time-based vesting criteria previously granted to the reporting person under the 2018 Equity Incentive Plan. Of such shares, (i) a remaining award of 2,250 shares vests in equal installments on September 30, 2022, 2023 and 2024 and (ii) an award of 30,000 shares vests in one-half installments on September 30, 2024 and 2025. Under the terms of the respective award agreements, the reporting person has sole voting power with respect to the reported shares.