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

Role
Senior VP, Finance
Signature
/s/ Gregory A. Hoffman
Stock symbol
ROAD
Transactions as of
Dec 13, 2023
Transactions value $
-$44,044
Form type
4
Date filed
12/15/2023, 04:03 PM
Previous filing
Nov 4, 2022
Next filing
Dec 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROAD Class A Common Stock Award $0 +3.45K +8.67% $0.00 43.2K Dec 13, 2023 Direct F1
transaction ROAD Class A Common Stock Award $0 +767 +1.77% $0.00 44K Dec 13, 2023 Direct F2
transaction ROAD Class A Common Stock Award $0 +4.5K +10.23% $0.00 48.5K Dec 13, 2023 Direct F3, F4
transaction ROAD Class A Common Stock Tax liability -$44K -1.02K -2.1% $43.35 47.5K Dec 14, 2023 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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.
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.
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.
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.
F5 Represents shares of Class A common stock surrendered to the Issuer to satisfy tax withholding obligations upon the vesting of the PSUs.