Alan Palmer - Jan 14, 2022 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
Jan 14, 2022
Transactions value $
-$1,850,000
Form type
4
Date filed
1/14/2022, 02:57 PM
Previous filing
Oct 27, 2021
Next filing
Aug 26, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding ROAD Class A Common Stock 31.5K Jan 14, 2022 Direct F1

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 Sale -$1.85M -50K -38.4% $37.00 80.2K Jan 14, 2022 Class A Common Stock 50K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 20,000 restricted shares of Class A common stock, $0.001 par value ("Class A common stock") of Construction Partners, Inc. (the "Company") with time-based vesting criteria granted under the Construction Partners, Inc. 2018 Equity Incentive Plan that vest in one-half increments 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.
F2 Each share of Class B common stock, $0.001 par value ("Class B common stock"), of the Company 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.
F3 The reported transaction represents a privately negotiated sale of Class B common stock to another holder of Class B common stock.