Construction Partners CFO awarded 50,000 Class B shares
Hoffman Gregory A reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Hoffman Gregory A reported acquisition or exercise transactions in this Form 4 filing.
Construction Partners, Inc. reported that its SVP and Chief Financial Officer, Gregory A. Hoffman, received a grant of 50,000 restricted shares of Class B common stock on August 6, 2026. These Class B shares, each convertible into one Class A share and carrying 10 votes per share, vest as a single tranche on September 30, 2030, subject to his continued service. After this award, he directly holds 70,621 Class B shares and 40,217 Class A shares, including 7,043 time-vested restricted Class A shares scheduled to vest between 2026 and 2029.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class B Common Stock F2, F3, F4 | 50,000 | $0.00 | $0.00 |
| holding | Class A Common Stock F1 | -- | -- | -- |
Footnotes (4)
- F1. Includes 7,043 restricted shares of Class A common stock, $0.001 par value ("Class A common stock"), of Construction Partners, Inc. (the "Issuer") with time-based vesting criteria previously granted under the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Incentive Plan") that vest as follows, in each case, subject to the reporting person's continued service with the Issuer through the applicable vesting date: (i) 3,150 shares on September 30, 2026, (ii) 2,270 shares on September 30, 2027, (iii) 1,145 shares on September 30, 2028, and (iv) 478 shares on September 30, 2029. Under the terms of the respective award agreements, the reporting person has sole voting power with respect to the reported shares.
- F2. 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.
- F3. The reported transaction represents a grant of restricted shares of Class B common stock with time-based vesting criteria under the Construction Partners, Inc. 2024 Restricted Stock Plan (the "Restricted Stock Plan"). The shares of Class B common stock subject to the reported award vest as a single tranche on September 30, 2030, subject to the reporting person's continued service with the Issuer through such date.
- F4. Includes 50,000 restricted shares of Class B common stock with time-based vesting criteria granted under the Restricted Stock Plan that vest as a single tranche on September 30, 2030, subject to the reporting person's continued service with the Issuer through such date.
Key Figures
Key Terms
time-based vesting criteria financial
2018 Equity Incentive Plan financial
2024 Restricted Stock Plan financial
Class B common stock financial
FAQ
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What did ROAD executive Gregory A. Hoffman receive in this Form 4 filing?
What are the voting rights and conversion features of ROAD’s Class B common stock in this grant?
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