Form 4: Advanced Drainage Systems EVP Darin S. Harvey Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Darin S. Harvey, EVP of Supply Chain & Logistics at Advanced Drainage Systems, reports transactions involving common stock, including acquisition of performance-based units and shares withheld for tax obligations.
Summary
- On May 15, 2024, Darin S. Harvey, EVP of Supply Chain & Logistics at Advanced Drainage Systems, reported changes in beneficial ownership of the company's common stock.
- Harvey acquired 4,403 shares of common stock related to performance-based units earned after the company determined that certain performance goals for the period ended March 31, 2024, had been met, including 59 shares from dividend equivalents.
- He also acquired 125 shares through the Employee Stock Purchase Plan.
- Additionally, 1,319 shares were withheld to satisfy tax obligations related to the vesting of restricted common stock at a price of $176.18.
- Another 27 shares were withheld for tax obligations at a price of $176.18.
- Following these transactions, Harvey directly owns 7,353 shares of common stock and indirectly owns 15,233.3258 shares through the KSOP.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reflects routine transactions related to compensation and tax obligations. The acquisition of performance-based units is a slightly positive indicator, but the tax withholding is a minor negative.
Positives
- The acquisition of performance-based units suggests that the company met certain performance goals, which could be viewed positively.
Negatives
- The withholding of shares to cover tax obligations could be seen as a minor negative, as it reduces the number of shares directly held by the reporting person.
Industry Context
This filing is a routine disclosure related to insider transactions and doesn't necessarily indicate a significant shift in the company's outlook or performance relative to its industry peers.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely insignificant.
Key Dates
| Date | Description |
|---|---|
| 03/31/2024 | End of the performance period for the performance-based units. |
| 05/15/2024 | Date of the reported transactions. |
| 05/17/2024 | Date of signature on the Form 4 filing. |
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