Form 4: Construction Partners Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Judson Ryan Brooks, Senior Vice President, Legal at Construction Partners, Inc., sold shares to cover tax obligations upon vesting of restricted stock.
Summary
- On October 1, 2024, Judson Ryan Brooks, Senior Vice President, Legal at Construction Partners, Inc., sold 6,676 shares of Class A Common Stock to cover tax withholding obligations.
- The sale price was $69.80 per share, based on the closing price on September 30, 2024.
- Following the transaction, Brooks directly owns 29,641 shares of Class A Common Stock, including 15,812 restricted shares that will vest over the next three years.
- Brooks also holds 957 restricted stock units, each representing the right to receive cash equal to the value of one share of Class A common stock on the vesting date.
Sentiment
Score: 5
Explanation: Neutral sentiment as the filing relates to a routine transaction for tax purposes and doesn't indicate a significant change in the executive's holdings or outlook.
Industry Context
This is a routine Form 4 filing, indicating an insider transaction related to tax obligations upon vesting of restricted stock. Such transactions are common and don't necessarily reflect a change in the executive's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| September 30, 2024 | Closing price of Class A common stock used to determine the value of shares surrendered for tax withholding. |
| October 01, 2024 | Date of the transaction (sale of shares). |
| October 03, 2024 | Date of signature on the Form 4 filing. |
| September 30, 2025 | Vesting date for 14,358 restricted shares and a portion of the restricted stock units. |
| September 30, 2026 | Vesting date for 1,135 restricted shares and a portion of the restricted stock units. |
| September 30, 2027 | Vesting date for 319 restricted shares and the final portion of the restricted stock units. |
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