Road insider Hoffman retains 37,143 shares; 5,131 restricted vesting
Rhea-AI Filing Summary
Gregory A. Hoffman, Senior VP, Finance and director of Construction Partners, Inc. (ROAD), reported on Form 4 that on 10/02/2025 he surrendered 8,051 shares of Class A common stock to the company to satisfy tax withholding obligations at a value of $127.00 per share.
After the surrender, Mr. Hoffman beneficially owns 37,143 shares of Class A common stock. The filing also discloses 5,131 restricted Class A shares remaining with time-based vesting through 9/30/2028, and references 11,000 shares of Class B common stock convertible into Class A.
Positive
- Retained ownership of 37,143 Class A shares after the withholding surrender
- 5,131 restricted Class A shares remain subject to time-based vesting through 9/30/2028, indicating continued alignment with shareholders
- 11,000 Class B shares convertible into Class A, providing enhanced voting influence
Negative
- 8,051 Class A shares surrendered to satisfy tax withholding, reducing free-floating holdings
- Surrender value used $127.00 per share, which may differ from intraday market prices
Insights
Routine tax withholding via share surrender; significant retained ownership remains.
The filing documents the surrender of 8,051 Class A shares at a per-share value of $127.00 on 10/02/2025 to satisfy tax withholding on vested awards. This is a common administrative step following vesting under an equity incentive plan and does not indicate a discretionary cash sale.
The reporting person continues to beneficially own 37,143 Class A shares and holds 5,131 restricted shares that vest through 9/30/2028, preserving voting and economic exposure. The filing also notes 11,000 Class B shares convertible into Class A, which carry enhanced voting rights (10 votes per Class B share).
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock | 8,051 | $127.00 | $1.02M |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- The reported transaction represents the surrender by the reporting person of shares of Class A common stock, $0.001 par value ("Class A common stock"), of Construction Partners, Inc. (the "Issuer") to the Issuer to satisfy tax withholding obligations upon the vesting of restricted shares of Class A common stock previously awarded to the reporting person under the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Incentive Plan"). Pursuant to the terms of the Incentive Plan and the applicable award agreements, the number of shares surrendered was determined using a value of $127.00 per share, the closing price for a share of Class A common stock on September 30, 2025, the vesting date. Includes 5,131 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 2,672 shares on September 30, 2026, (ii) 1,792 shares on September 30, 2027, and (iii) 667 shares on September 30, 2028. Under the terms of the respective award agreements, the reporting person has sole voting power with respect to the reported shares. Each share of Class B common stock, par value $0.001 per share, 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.
