[Form 4] Construction Partners, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Robert G. Baugnon, Senior VP, Personnel and Admin and a director of Construction Partners, Inc. (ROAD), reported two changes in his Class A common stock holdings in early October 2025. On 10/01/2025 he purchased 72 shares under the company Employee Stock Purchase Plan at $88.99 per share. On 10/02/2025 he surrendered 5,152 shares to satisfy tax withholding on vested restricted shares, using a valuation of $127.00 per share (the closing price on the 9/30/2025 vesting date).

Following these transactions Mr. Baugnon directly owned 20,795 shares of Class A common stock. The filing discloses an outstanding balance of 3,411 time‑vested restricted shares that vest in tranches on 9/30/2026 (1,792 shares), 9/30/2027 (1,119), and 9/30/2028 (500). The reporting person has sole voting power over the reported shares.

Positive

• Participation in Employee Stock Purchase Plan demonstrates officer alignment with shareholder interests (purchase of 72 shares).
• Sole voting power retained over reported shares provides clear governance disclosure.

Negative

• Share surrender of 5,152 to cover tax withholding reduced the reporting person's liquid shareholdings.
• Direct holdings reduced to 20,795 shares after the reported transactions.

Insights

Corporate Governance Expert

Insider exercised ESPP purchase and used share surrender for tax withholding on vested restricted stock.

The 10/01/2025 purchase of 72 shares under the Employee Stock Purchase Plan is a routine equity participation by an officer. The subsequent 10/02/2025 surrender of 5,152 shares to cover tax withholding reflects standard treatment when restricted shares vest and taxes are due.

The filing shows a remaining direct holding of 20,795 shares and 3,411 restricted shares vesting across 2026–2028, with sole voting power retained by the reporting person; these are disclosure items relevant to insider ownership and potential voting influence.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Baugnon Robert G

(Last) (First) (Middle)

290 HEALTHWEST DRIVE, SUITE 2

(Street)

DOTHAN AL 36303

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Construction Partners, Inc. [ ROAD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior VP, Personnel and Admin

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/01/2025		A(1)	V	72	A	$88.99	25,947	D
Class A Common Stock	10/02/2025		F		5,152(2)	D	$127(2)	20,795(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported transaction represents the purchase of shares of Class A common stock, par value $0.001 ("Class A common stock") of Construction Partners, Inc. (the "Issuer") by the reporting person pursuant to the Construction Partners, Inc. Employee Stock Purchase Plan.

2. The reported transaction represents the surrender by the reporting person of shares of Class A common stock 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.

3. Includes 3,411 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 1,792 shares on September 30, 2026, (ii) 1,119 shares on September 30, 2027, and (iii) 500 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.

Remarks:

	/s/ Robert G. Baugnon	10/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did ROAD insider Robert G. Baugnon report?

He reported a purchase of 72 shares under the Employee Stock Purchase Plan on 10/01/2025 and the surrender of 5,152 shares on 10/02/2025 to satisfy tax withholding.

How many shares does Mr. Baugnon own after the reported transactions?

Following the transactions he directly owns 20,795 shares of Class A common stock.

Why were 5,152 shares surrendered to the issuer?

The shares were surrendered to satisfy tax withholding obligations upon the vesting of restricted shares awarded under the 2018 Equity Incentive Plan, valued at $127.00 per share for the 9/30/2025 vesting date.

Are there additional restricted shares disclosed for Mr. Baugnon?

Yes, 3,411 restricted shares remain outstanding and vest on 9/30/2026 (1,792), 9/30/2027 (1,119), and 9/30/2028 (500).

Does Mr. Baugnon retain voting power over these shares?

The filing states he has sole voting power with respect to the reported shares.