Gregory A. Hoffman - 13 Dec 2023 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Reporting relationship: Senior VP, Finance
Issuer ticker: ROAD
Reported as of: 13 Dec 2023
Net transaction value: -$44,044
SEC form: 4
Accepted by SEC: 15 Dec 2023, 16:03:10 UTC
Prior SEC filing: 04 Nov 2022
Next SEC filing: 21 Dec 2023
Source filing: View source filing
Reporting owner signature: /s/ Gregory A. Hoffman

Key filing fact

Gregory A. Hoffman filed Form 4 for Construction Partners, Inc. (ROAD) on 15 Dec 2023.

Key facts

This page summarizes Gregory A. Hoffman's Form 4 filing for Construction Partners, Inc. (ROAD).
4 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 15 Dec 2023, 16:03.

Change

Previous filing in this sequence was filed on 04 Nov 2022.
Current net transaction value: -$44,044.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ROAD transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +3,450
Change %: +8.7%
Price: $0.000000
Shares after: 43,220
Date: 13 Dec 2023
Ownership: Direct
Footnotes: F1

ROAD transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +767
Change %: +1.8%
Price: $0.000000
Shares after: 43,987
Date: 13 Dec 2023
Ownership: Direct
Footnotes: F2

ROAD transaction

Class A Common Stock

Award

Transaction value: $0
Shares: +4,500
Change %: +10%
Price: $0.000000
Shares after: 48,487
Date: 13 Dec 2023
Ownership: Direct
Footnotes: F3, F4

ROAD transaction

Class A Common Stock

Tax liability

Transaction value: $44,044
Shares: -1,016
Change %: -2.1%
Price: $43.35
Shares after: 47,471
Date: 14 Dec 2023
Ownership: Direct
Footnotes: F4, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote F1

On December 29, 2021, the reporting person was granted 4,000 performance-based restricted stock units ("PSUs") pursuant to the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Plan"). The PSUs vested in a single lump-sum based on the satisfaction by Construction Partners, Inc. (the "Issuer") of certain performance criteria for the three-year period comprising the 2021, 2022 and 2023 fiscal years. The performance criteria for were partially met, resulting in the vesting of 3,450 PSUs.

Footnote F2

The reported transaction represents a grant of immediately vested shares of Class A common stock, $0.001 par value ("Class A common stock"), of the Issuer under the Plan.

Footnote F3

The reported transaction represents a grant of restricted shares of Class A common stock of the Issuer with time-based vesting criteria under the Plan. The shares of Class A common stock subject to the reported award vest in one-fourth installments on September 30, 2024, 2025, 2026 and 2027. Under the terms of the award agreement, the reporting person has sole voting power with respect to the reported shares.

Footnote F4

Includes 39,464 restricted shares of Class A common stock with time-based vesting criteria granted under the Plan that vest as follows: (i) 18,541 shares on September 30, 2024, (ii) 17,793 shares on September 30, 2025, (iii) 2,005 shares on September 30, 2026, and (iv) 1,125 shares on September 30, 2027. Under the terms of the respective award agreements, the reporting person has sole voting power with respect to the reported shares.

Footnote F5

Represents shares of Class A common stock surrendered to the Issuer to satisfy tax withholding obligations upon the vesting of the PSUs.