[Form 4] ADVANCED DRAINAGE SYSTEMS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Advanced Drainage Systems (WMS): Form 4 insider transaction — A company director reported a code G transaction on 11/10/2025, reflecting a no‑consideration movement of shares. The filing shows 4,100 shares of common stock were transferred at $0.00, decreasing direct holdings and increasing indirect holdings in a revocable trust.

Following the transaction, the director reported 2,386 shares held directly and 60,645 shares held indirectly through a revocable trust benefiting the reporting person and family. This appears as an internal reallocation of ownership with no sale proceeds.

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
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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^*

EVERSOLE ROBERT M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

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	11/10/2025		G		4,100	D	$0.00	2,386	D
Common Stock	11/10/2025		G		4,100	A	$0.00	60,645	I	Reporting Person's Revocable Trust(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. Shares held in revocable trust for the benefit of the reporting person and the reporting person's spouse and children.

	/s/ Robert M. Eversole, by Scott A. Cottrill as attorney-in-fact	11/12/2025
	** 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 did WMS disclose in this Form 4?

A director recorded a code G transaction on 11/10/2025, moving 4,100 common shares at $0.00 between direct and indirect ownership.

How many shares did the WMS director transfer?

The filing reports a transfer of 4,100 common shares at $0.00.

What are the director’s holdings after the transaction for WMS?

Post-transaction, the director holds 2,386 shares directly and 60,645 shares indirectly via a revocable trust.

What does transaction code G mean on a Form 4?

Code G denotes a gift transaction, which here coincides with a no‑consideration movement of shares to a trust.

Who benefits from the revocable trust mentioned for WMS?

Per the filing, the trust benefits the reporting person, spouse, and children.

Did the WMS director sell shares on the open market?

No. The filing shows a $0.00 transfer consistent with a gift to a revocable trust, not an open‑market sale.