Gregory A. Hoffman - Oct 1, 2024 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Role: Senior VP, Finance
Signature: /s/ Gregory A. Hoffman
Stock symbol: ROAD
Transactions as of: Oct 1, 2024
Transactions value $: -$567,683
Form type: 4
Date filed: 10/3/2024, 04:06 PM
Previous filing: Dec 21, 2023
Next filing: Oct 22, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ROAD	Class A Common Stock	Tax liability	-$568K	-8.13K	-17.21%	$69.80	39.1K	Oct 1, 2024	Direct	F1, F2

* 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 20,923 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 17,793 shares on September 30, 2025, (ii) 2,005 shares on September 30, 2026, and (iii) 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.

Content

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.

Includes 20,923 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 17,793 shares on September 30, 2025, (ii) 2,005 shares on September 30, 2026, and (iii) 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.