John L. Harper - Dec 13, 2023 Form 4 Insider Report for Construction Partners, Inc. (ROAD)

Role
Senior Vice President
Signature
/s/ John L. Harper
Stock symbol
ROAD
Transactions as of
Dec 13, 2023
Transactions value $
$0
Form type
4
Date filed
12/15/2023, 04:04 PM
Previous filing
Oct 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ROAD Class A Common Stock Award $0 +6.25K +4.54% $0.00 144K Dec 13, 2023 Direct F1, F2
transaction ROAD Class A Common Stock Award $0 +1.39K +0.96% $0.00 145K Dec 13, 2023 Direct F3
transaction ROAD Class A Common Stock Award $0 +3.71K +2.55% $0.00 149K Dec 13, 2023 Direct F4, F5
holding ROAD Class A Common Stock 1K Dec 13, 2023 By spouse
holding ROAD Class A Common Stock 15K Dec 13, 2023 By Frances Harper Trust F6
holding ROAD Class A Common Stock 15K Dec 13, 2023 By Family Trust F7
* 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 7,250 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 6,253 PSUs.
F2 On October 4, 2023, the reporting person filed an ownership report indicating 137,096 shares of the Issuer's Class A common stock, par value $0.001 ("Class A common stock") held by the reporting person following the completion of a share withholding transaction described therein. Due to an inadvertent administrative error, the number of withheld shares was reported as 1,025 shares but should have been 369 shares. Accordingly, the beginning balance in this report has been corrected to 137,752 shares of Class A common stock.
F3 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.
F4 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.
F5 Includes 60,850 restricted shares of Class A common stock with time-based vesting criteria granted under the Plan that vest as follows: (i) 29,413 shares on September 30, 2024, (ii) 28,326 shares on September 30, 2025, (iii) 2,183 shares on September 30, 2026, and (iv) 928 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.
F6 The reported shares are held by a trust for which the reporting person serves as sole trustee, and in such capacity holds the sole power to vote and direct the disposition of such shares.
F7 The reported shares are held by a trust for which the reporting person serves as co-trustee, and in such capacity shares the power to vote and direct the disposition of such shares.