October 20, 2025 · Form 4 insider transaction
Smith Fred Julius III sold 3,025 shares of Construction Partners, Inc. at $115.01 per share, a transaction worth $347.9K. The trade was recorded as shares withheld for taxes and disclosed on an SEC Form 4, filed 1 day after the transaction.
Each share of Class B common stock, $0.001 par value, of the Issuer ("Class B common stock") is convertible into one share of Class A common stock (i) at any time at the option of the holder or (ii) upon any transfer, except for certain transfers described in the Issuer's amended and restated certificate of incorporation. In addition, upon the election of the holders of a majority of the then-outstanding shares of Class B common stock, all outstanding shares of Class B common stock will be converted into shares of Class A common stock. The holders of Class A common stock and Class B common stock vote as a single class on all matters submitted to a vote of stockholders. The holders of Class A common stock are entitled to one vote per share, and the holders of the Class B common stock are entitled to 10 votes per share. The shares of Class B common stock do not expire.; The reported transaction represents the surrender by the reporting person of shares of Class B common stock to the Issuer to satisfy tax withholding obligations upon the vesting of restricted shares of Class B common stock awarded to the reporting person under the Restricted Stock Plan. Pursuant to the terms of the Restricted Stock Plan and the applicable award agreement, the number of shares surrendered was determined using a value of $115.01 per share, determined by reference to the closing price for a share of Class A common stock on October 17, 2025, the vesting date.