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

Role: Senior VP, Finance
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.

Content

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.

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.