Todd Keith Andrews - Dec 19, 2023 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Role
Chief Accounting Officer
Signature
/s/ Todd Keith Andrews
Stock symbol
ROAD
Transactions as of
Dec 19, 2023
Transactions value $
-$7,481
Form type
4
Date filed
12/21/2023, 04:17 PM
Previous filing
Dec 15, 2023
Next filing
May 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROAD Class A Common Stock Tax liability -$7.48K -171 -0.61% $43.75 27.7K Dec 19, 2023 Direct F1, F2, F3

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
holding ROAD Restricted Stock Units 1.14K Dec 19, 2023 Class A Common Stock 1.14K Direct F4, F5
* 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 grant of immediately vested shares of Class A common stock on December 13, 2023.
F2 Pursuant to the terms of the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Plan") and the applicable award agreement, the number of shares withheld was determined using a value of $43.75 per share, based on the closing price for a share of Class A common stock on the vesting date.
F3 Includes 20,410 restricted shares of Class A common stock with time-based vesting criteria granted under the Plan that vest as follows: (i) 9,868 shares on September 30, 2024, (ii) 9,220 shares on September 30, 2025, (iii) 1,036 shares on September 30, 2026, and (iv) 286 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.
F4 Each restricted stock unit represents a contingent right to receive cash in an amount equal to the value of one share of Class A common stock on the applicable vesting date.
F5 The restricted stock units vest in one-fourth installments beginning on the first September 30 following the grant date and on September 30 of each of the next three succeeding years.