4//SEC Filing
Flowers Robert P. 4
Accession 0001718227-23-000123
CIK 0001718227other
Filed
Dec 20, 7:00 PM ET
Accepted
Dec 21, 4:17 PM ET
Size
9.6 KB
Accession
0001718227-23-000123
Insider Transaction Report
Form 4
Flowers Robert P.
Senior Vice President
Transactions
- Tax Payment
Class A Common Stock
2023-12-19$43.75/sh−327$14,306→ 70,225 total
Holdings
- 1,838
Restricted Stock Units
→ Class A Common Stock (1,838 underlying) - 5,990
Class B Common Stock
→ Class A Common Stock (5,990 underlying)
Footnotes (6)
- [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 58,702 restricted shares of Class A common stock with time-based vesting criteria granted under the Plan that vest as follows: (i) 28,814 shares on September 30, 2024, (ii) 27,766 shares on September 30, 2025, (iii) 1,664 shares on September 30, 2026, and (iv) 460 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 share of Class B common stock, $0.001 par value ("Class B common stock"), of the Company is convertible into one share of Class A common stock (i) at any time at the option of the holder or (ii) upon any transfer, except for certain transfers described in the Company's amended and restated certificate of incorporation. In addition, upon the election of the holders of a majority of the then-outstanding shares of Class B common stock, all outstanding shares of Class B common stock will be converted into shares of Class A common stock. The holders of Class A common stock and Class B common stock vote as a single class on all matters submitted to a vote of stockholders. The holders of Class A common stock are entitled to one vote per share, and the holders of the Class B common stock are entitled to 10 votes per share. The shares of Class B common stock do not expire.
- [F5]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.
- [F6]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.
Documents
Issuer
Construction Partners, Inc.
CIK 0001718227
Entity typeother
Related Parties
1- filerCIK 0001739620
Filing Metadata
- Form type
- 4
- Filed
- Dec 20, 7:00 PM ET
- Accepted
- Dec 21, 4:17 PM ET
- Size
- 9.6 KB