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

Rhea-AI Filing Summary

Construction Partners, Inc. (ROAD)

After this tax-related share surrender, Baugnon beneficially owns 24,547 shares of Class A common stock, including 4,839 restricted shares that vest in stages: 2,149 shares on September 30, 2026, 1,476 shares on September 30, 2027, 857 shares on September 30, 2028, and 357 shares on September 30, 2029. He retains sole voting power over the reported shares.

11/20/2025 - 06:32 PM

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

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)
11/19/2025

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	11/19/2025		F		2,251(1)	D	$112.02	24,547(2)	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 surrender by the reporting person of shares of Class A common stock, $0.001 par value ("Class A common stock"), to Construction Partners, Inc. (the "Issuer") to satisfy tax withholding obligations upon the vesting and issuance of Class A common stock pursuant to performance-based restricted stock units 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 $112.02 per share, the closing price for a share of Class A common stock on November 4, 2025, the vesting date.

2. Includes 4,839 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 2,149 shares on September 30, 2026, (ii) 1,476 shares on September 30, 2027, (iii) 857 shares on September 30, 2028 and (iv) 357 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.

Remarks:

	/s/ Robert G. Baugnon	11/20/2025
	** 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 transaction did Construction Partners (ROAD) report for Robert G. Baugnon?

The company reported that Robert G. Baugnon surrendered 2,251 shares of Class A common stock to Construction Partners, Inc. to satisfy tax withholding obligations tied to the vesting of performance-based restricted stock units under the 2018 Equity Incentive Plan.

At what price were the surrendered ROAD shares valued?

The 2,251 surrendered shares were valued at $112.02 per share, equal to the closing price of Construction Partners’ Class A common stock on November 4, 2025, the vesting date of the performance-based restricted stock units.

How many ROAD shares does Robert G. Baugnon own after this Form 4 transaction?

Following the tax-related surrender, Robert G. Baugnon beneficially owns 24,547 shares of Construction Partners’ Class A common stock, held in direct ownership.

How many restricted ROAD shares does Baugnon hold and how do they vest?

Baugnon’s holdings include 4,839 restricted shares of Class A common stock with time-based vesting: 2,149 shares vest on September 30, 2026, 1,476 shares on September 30, 2027, 857 shares on September 30, 2028, and 357 shares on September 30, 2029.

Was this ROAD share transaction an open market sale?

No. The filing states that the transaction was a surrender of shares to Construction Partners, Inc. to satisfy tax withholding obligations, not an open market sale.

Does Robert G. Baugnon have voting power over his ROAD restricted shares?

Yes. Under the applicable award agreements, the filing notes that he has sole voting power with respect to the reported restricted shares of Class A common stock.