Form 4: Construction Partners Director Converts Class B Common Stock to Class A

Mark R. Matteson, a director at Construction Partners, Inc., converted 128,000 shares of Class B common stock into Class A common stock on August 14, 2024.

Summary

• On August 14, 2024, Mark R. Matteson, a director of Construction Partners, Inc. (ROAD), converted 128,000 shares of Class B common stock into Class A common stock.
• The conversion was executed at a price of $0.00 per share.
• Following the transaction, Matteson directly owns 30,731 shares of Class A common stock, including 5,667 restricted shares that will vest on January 1, 2025.
• Matteson also indirectly owns shares through AMDG Associates Limited Partnership, SunTx Capital Partners II, L.P., and SunTx Capital Partners II Dutch Investors, L.P.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock conversion, and does not inherently convey positive or negative sentiment.

Industry Context

This filing reflects insider activity related to the company's stock. Such filings are common and provide transparency into the actions of company insiders.

Stakeholder Impact

• The conversion of Class B shares to Class A shares could have a minor impact on the voting power distribution, as Class B shares have 10 votes per share compared to Class A shares' one vote per share.

Key Dates