Form 4: Advanced Drainage Systems Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Scott A. Cottrill, EVP, CFO and Secretary of Advanced Drainage Systems, Inc., disposed of 615 shares of common stock to cover tax obligations related to vesting restricted stock.
Summary
- On May 22, 2024, Scott A. Cottrill, the EVP, CFO, and Secretary of Advanced Drainage Systems, Inc. (WMS), disposed of 615 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax obligations in connection with the vesting of restricted common stock.
- The shares were sold at a price of $177.06 per share.
- Following the transaction, Cottrill directly owns 91,442 shares of common stock and indirectly owns 17,469.9623 shares through a KSOP.
Sentiment
Score: 5
Explanation: This is a neutral event. An executive sold shares to cover tax obligations, which is a common and expected practice.
Industry Context
Form 4 filings are a routine part of the stock market and are required by the SEC to provide transparency into the transactions of company insiders. This filing indicates that an executive sold shares to cover tax obligations, which is a common practice.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 05/22/2024 | Date of transaction: Scott A. Cottrill disposed of 615 shares of common stock. |
| 05/24/2024 | Date of signature on the Form 4 filing. |
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