Cardinal Infrastructure Group Inc. filings document a newly public civil infrastructure services company, its Nasdaq-listed Class A common stock and its acquisition-led operating structure. 8-K reports cover material agreements, completed asset and equity acquisitions, financial results, leadership and board appointments, and emerging-growth-company disclosures.
Registration and IPO-related filings describe the company's OpCo arrangements, Tax Receivable Agreement, registration rights, Class B common stock issuances and related capital-structure matters. Proxy materials cover annual meeting voting items, board governance and executive compensation, while acquisition amendments include acquired-business financial statements and unaudited pro forma financial information for completed transactions such as ALGC.
Cardinal Infrastructure Group Inc. director Austin J. Shanfelter received an equity award of 3,101 Class A common shares as restricted stock units on May 7, 2026. The grant is compensation, not an open-market purchase, and increased his direct holdings to 8,726 shares.
The RSUs vest in four tranches, subject to continued service: 775 vested immediately on grant, 775 are scheduled to vest on June 30, 2026, another 775 on September 30, 2026, and 776 on December 31, 2026. As each tranche vests, the units convert into common shares the director can own directly.
Wimmer Richard Bennett reported acquisition or exercise transactions in this Form 4 filing.
Cardinal Infrastructure Group Inc. director Richard Bennett Wimmer reported receiving a grant of 3,101 shares of Class A Common Stock as restricted stock units at $24.18 per share. This is a compensation-related award, not an open-market purchase, and brings his direct holdings to 19,826 shares.
The RSUs were granted on May 7, 2026 and vest in four tranches, subject to continued service: 775 units vested immediately, 775 vest on June 30, 2026, 775 on September 30, 2026, and 776 on December 31, 2026. These vesting dates spread the award over the remainder of 2026.
Cardinal Infrastructure Group Inc. filed an amended report to add full financials for its newly acquired subsidiary, A.L. Grading Contractors (ALGC), and detailed pro forma results. ALGC generated $164.5 million in 2025 contract revenue and $33.5 million in net income, with strong operating cash flow of $41.6 million.
The unaudited pro forma statements show Cardinal including ALGC and related financing, including an $80 million increase in its term loan facility to $200 million to help fund total ALGC consideration of about $254.7 million, split among cash, equity units, Class A shares and contingent consideration. Pro forma 2025 combined revenue is $620.5 million, with net income attributable to the company of about $12.5 million, reflecting purchase accounting, new intangibles and higher interest costs.
Cardinal Infrastructure Group Inc. (CDNL) is holding its first annual stockholder meeting as a public company on June 5, 2026 via virtual-only webcast. Stockholders will vote on electing six directors for one-year terms and ratifying Grant Thornton LLP as independent auditor for 2026.
Cardinal completed its IPO in December 2025, raising approximately $241.5 million in gross proceeds and listing on Nasdaq. For 2025, the Company reported revenue of $456.0 million, up 45% from 2024, and net income of $31.1 million, up 10%. Backlog at December 31, 2025 was $682 million, up 33% from the prior year-end.
The Company operates with an Up-C structure: IPO proceeds were used to purchase LLC units of its operating subsidiary and redeem interests from pre-IPO owners, including large redemptions from executives Jeremy Spivey, Erik West and Mike Rowe. A Tax Receivable Agreement entitles pre-IPO holders to 85% of certain tax savings from step-up in basis and related attributes, potentially over more than 16 years and accelerated upon a change of control.
Proxy disclosures describe related-party leases with an entity owned by senior executives and family members, revenue from a related real-estate party, and employment of the CEO’s father. Cardinal also details a 3.66 million-share 2025 Stock Incentive Plan, director compensation via cash and RSUs, a clawback and insider trading policy with hedging prohibitions, and its three independent board committees. Voting is available online or by telephone for stockholders of record as of April 9, 2026.
Cardinal Infrastructure Group amendment reports that Wasatch Advisors beneficially owns 693,050 shares of Class A common stock, representing 4.5% of the class. The filing lists sole voting power for 648,613 shares and sole dispositive power for 693,050 shares. The amendment is signed by the reporting person on 04/23/2026.
Cardinal Infrastructure Group Inc. director Wood Anthony Leon Jr. filed an initial ownership report showing indirect holdings through Diamond Interests Group, LLC. That entity holds 2,093,031 shares of Class B Common Stock and an equal number of LLC Units exchangeable 1-to-1 into Class A Common Stock with no expiration.
Cardinal Infrastructure Group Inc. Chief Operating Officer Benjamin Wood filed an initial ownership report showing indirect equity interests through Diamond Interests Group, LLC. That entity holds 2,093,031 shares of Class B Common Stock. Related LLC Units are redeemable on a 1-to-1 basis into an equal number of Class A Common shares, with the corresponding Class B shares forfeited and no expiration on the LLC Units.
Cardinal Infrastructure Group Inc. director Zelman Ivy reported an open-market purchase of 6,921 shares of Class A Common Stock. The weighted average purchase price was $36.33 per share, with individual trades executed between $36.09 and $36.47. Following this transaction, Ivy directly holds 15,326 shares.
Cardinal Infrastructure Group Inc. filed its annual report outlining a transformative year that included a December 2025 IPO and a complex Up‑C holding-company structure. The IPO sold 13,225,000 Class A shares at $21.00, generating about $277.7 million in gross proceeds.
The company used roughly $258.3 million of net proceeds to buy 14,943,750 LLC units in its operating partnership, ending 2025 with a 39% economic interest while legacy holders retained 61% plus Class B voting shares and tax benefits under a Tax Receivable Agreement.
Cardinal positions itself as a fast-growing, vertically integrated infrastructure services platform in the U.S. Southeast, citing a 44% revenue CAGR from 2021–2025 and strong backlog across Raleigh, Charlotte, and Greensboro. In February 2026 it agreed to acquire ALGC for $245.5 million in cash and equity to expand into the Atlanta market.