Form 4: Construction Partners Insider Surrenders Shares to Cover Tax Obligations
SEC Form 4
Ned N. Fleming IV, a member of a 10% owner group of Construction Partners, Inc., surrendered 383 shares of Class A common stock to cover tax obligations related to vesting restricted shares.
Summary
- On October 1, 2024, Ned N. Fleming IV surrendered 383 shares of Construction Partners, Inc. Class A common stock to satisfy tax withholding obligations.
- The shares were surrendered at a price of $69.80 per share, based on the closing price on September 30, 2024.
- Following the transaction, Fleming directly owns 32,999 shares of Class A common stock, including 15,349 restricted shares that vest over the next three years.
- Fleming also indirectly owns shares through the Ned N. Fleming, IV 2013 Trust and Tar Frog Investment Management LLC.
- He also holds 914 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: The document is a routine regulatory filing and does not contain information that would significantly impact investor sentiment positively or negatively.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| 2024-09-30 | Closing price of Class A common stock used to determine the value of shares surrendered for tax obligations ($69.80). |
| 2024-10-01 | Date of the transaction where Ned N. Fleming IV surrendered shares. |
| 2024-10-03 | Date of signature on the Form 4 filing. |
| 2025-09-30 | Vesting date for 14,067 restricted shares of Class A common stock. |
| 2025-09-30 | Vesting date for a portion of the restricted stock units. |
| 2026-09-30 | Vesting date for 978 restricted shares of Class A common stock. |
| 2026-09-30 | Vesting date for a portion of the restricted stock units. |
| 2027-09-30 | Vesting date for 305 restricted shares of Class A common stock. |
| 2027-09-30 | Vesting date for a portion of the restricted stock units. |
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