Todd Keith Andrews - Oct 1, 2024 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Role
Chief Accounting Officer
Signature
/s/ Todd Keith Andrews
Stock symbol
ROAD
Transactions as of
Oct 1, 2024
Transactions value $
-$305,654
Form type
4
Date filed
10/3/2024, 04:06 PM
Previous 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 -$306K -4.38K -16.7% $69.80 21.9K Oct 1, 2024 Direct F1, F2

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 858 Oct 1, 2024 Class A Common Stock 858 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction represents the surrender by the reporting person of shares of Class A common stock, $0.001 par value ("Class A common stock"), of Construction Partners, Inc. (the "Issuer") to the Issuer to satisfy tax withholding obligations upon the vesting of restricted shares of Class A common stock previously awarded to the reporting person under the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Incentive Plan"). Pursuant to the terms of the Incentive Plan and the applicable award agreements, the number of shares surrendered was determined using a value of $69.80 per share, the closing price for a share of Class A common stock on September 30, 2024, the vesting date.
F2 Includes 10,542 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 9,220 shares on September 30, 2025, (ii) 1,036 shares on September 30, 2026, and (iii) 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.
F3 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. The reported restricted stock units do not expire and vest in equal installments on each of September 30, 2025, 2026 and 2027.