Form 4: Construction Partners Insider Transaction: Fleming Surrenders Shares for Tax Obligations
SEC Form 4 Filing
Ned N. Fleming IV, a member of a 10% owner group of Construction Partners, Inc., surrendered 747 shares of Class A common stock to cover tax obligations from vesting awards.
Summary
- Ned N. Fleming IV, a member of a 10% owner group at Construction Partners, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On December 27, 2024, Fleming surrendered 747 shares of Class A common stock to satisfy tax withholding obligations.
- The shares were valued at $95.90 each, based on the closing price on the vesting date.
- Fleming directly owns 40,201 shares of Class A common stock after the transaction.
- He also indirectly owns 241,008 shares through the Ned N. Fleming, IV 2013 Trust and 134,582 shares through Tar Frog Investment Management LLC.
- Additionally, Fleming directly holds 88,735 shares of Class A common stock and 914 restricted stock units.
- The restricted stock units vest in equal installments on September 30, 2025, 2026, and 2027.
- The restricted shares vest over time with 14,067 shares on September 30, 2025, 978 shares on September 30, 2026, and 305 shares on September 30, 2027.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing an insider transaction. It does not indicate any positive or negative sentiment.
Industry Context
This is a routine filing related to insider transactions and is common for publicly traded companies. It reflects the vesting of equity awards and the subsequent tax obligations.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, as required by the SEC.
- The transaction is typical for executives and insiders who receive equity compensation.
- The vesting schedules for restricted stock and units are common in executive compensation packages.
Stakeholder Impact
- The transaction has a minor impact on the total number of outstanding shares.
- The transaction is a normal part of executive compensation and does not indicate any significant change in the company's operations or financial health.
Key Dates
| Date | Description |
|---|---|
| 12/27/2024 | Date of the transaction where shares were surrendered for tax obligations. |
| 12/30/2024 | Date the Form 4 was signed. |
| 09/30/2025 | Vesting date for 14,067 restricted shares and a portion of the restricted stock units. |
| 09/30/2026 | Vesting date for 978 restricted shares and a portion of the restricted stock units. |
| 09/30/2027 | Vesting date for 305 restricted shares and a portion of the restricted stock units. |
Keywords
insider trading, Form 4, beneficial ownership, Construction Partners, stock transaction, tax withholding, restricted stock, equity incentive plan
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