Advanced Drainage (NYSE: WMS) officer has 107 shares withheld for taxes

Rhea-AI Filing Summary

ADVANCED DRAINAGE SYSTEMS, INC. officer Bret Martz reported an administrative equity event. On the vesting of restricted common stock, 107 shares of common stock were withheld at $139.85 per share to satisfy tax obligations rather than sold on the open market. After this withholding, Martz directly holds 1,951 common shares, so the filing reflects routine tax management rather than a discretionary trade.

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^*

Martz Bret

(Last) (First) (Middle)

C/O ADVANCED DRAINAGE SYSTEMS, INC.

4024 GREEN STRIPE LANE

(Street)

HILLIARD OHIO 43026

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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

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

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

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	03/17/2026		J		107(1)	D	$139.85	1,951	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. Represents shares withheld to satisfy Reporting Person's tax obligations in connection with the vesting of shares of restricted common stock of the Issuer.

Remarks:

Executive Vice President, Sales

	/s/ Bret Martz, by Scott A. Cottrill as attorney-in-fact	03/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Bret Martz report in the latest Form 4 for WMS?

Bret Martz reported that 107 shares of Advanced Drainage Systems common stock were withheld to cover taxes on restricted stock vesting. This is an administrative tax event, not an open-market trade, and leaves him holding 1,951 common shares directly.

Was the WMS Form 4 for Bret Martz a stock sale or purchase?

The Form 4 does not show a traditional stock sale or purchase. Instead, 107 shares were withheld to satisfy tax obligations from restricted stock vesting, meaning the shares went back to the issuer rather than being sold on the open market.

How many WMS shares does Bret Martz hold after this Form 4 transaction?

Following the reported tax-withholding event, Bret Martz directly holds 1,951 shares of Advanced Drainage Systems common stock. The 107 withheld shares reduced his position slightly as part of routine tax settlement tied to restricted stock vesting.

What does the J transaction code mean in Bret Martz’s WMS filing?

The J code in this filing denotes another type of acquisition or disposition. Here, a footnote clarifies it represents 107 shares withheld to satisfy Martz’s tax obligations related to restricted stock vesting, functioning like a non-market disposition to the company.

Does Bret Martz’s Form 4 for WMS indicate a change in sentiment?

The transaction appears administrative rather than strategic. Shares were withheld to cover taxes on restricted stock vesting, not sold on the market, so it provides little insight into Martz’s view of Advanced Drainage Systems’ future prospects or valuation.