Advanced Drainage (WMS) Form 4: Officer sales at $149.21

Advanced Drainage Systems (WMS) reported an insider transaction on a Form 4.

Rhea-AI Filing Summary

Advanced Drainage Systems (WMS) reported an insider transaction on a Form 4. On 11/12/2025, a company officer executed two open-market sales: 4,800 shares at $149.21 and 101 shares at $149.1914. Following these trades, the officer directly owned 2,467 shares and indirectly held 17,557.0082 shares by KSOP. The reporting person’s title is Vice President, Controller and Chief Accounting Officer.

Insider Trade Summary

Net Seller: 4,901 shares

Net Sell 3 txns

Insider MAKOWSKI TIM A

Role See Remarks

Sold 4,901 shs ($731K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,800	$149.21	$716K
Sale	Common Stock	101	$149.1914	$15K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 2,467 shares (Direct); Common Stock — 17,557.0082 shares (Indirect, By KSOP)

Footnotes (1)

1. F1. Represents current allocation under KSOP.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did WMS report on Form 4?

An officer reported two sales on 11/12/2025: 4,800 shares at $149.21 and 101 shares at $149.1914.

What are the officer’s remaining WMS holdings after the reported sales?

Direct ownership is 2,568 shares; indirect ownership is 17,557.0082 shares by KSOP.

What is the reporting person’s role at Advanced Drainage Systems (WMS)?

Vice President, Controller and Chief Accounting Officer.

What type of filing was submitted for this WMS insider activity?

A Form 4 filed by one reporting person.

On what date did the WMS insider sales occur?

11/12/2025.

Were the indirect shares held through a plan or trust?

Yes. 17,557.0082 shares are held indirectly by KSOP, per the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/13/2025 - 04:48 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

MAKOWSKI TIM A

(Last) (First) (Middle)

C/O ADVANCED DRAINAGE SYSTEMS, INC.

4640 TRUEMAN BOULEVARD

(Street)

HILLIARD OH 43026

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ADVANCED DRAINAGE SYSTEMS, INC. [ WMS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
11/12/2025

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
Common Stock	11/12/2025		S		4,800	D	$149.21	2,568	D
Common Stock	11/12/2025		S		101	D	$149.1914	2,467	D
Common Stock								17,557.0082	I	By KSOP(1)

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. Represents current allocation under KSOP.

Remarks:

Vice President, Controller and Chief Accounting Officer

	/s/ Tim A. Makowski, by Scott A. Cottrill as attorney-in-fact	11/13/2025
	** 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.