Construction Partners, Inc. President and CEO Fred Julius Smith III filed a Form 4 on November 6, 2026, disclosing three Class A common stock transactions dated November 4, 2026, including a restricted share grant, a PSU settlement, and a tax-withholding share surrender.

Key Highlights

  • Restricted share award: Smith received a grant of 4,972 shares of Class A common stock at $0 cost under the Construction Partners, Inc. 2018 Equity Incentive Plan, vesting in one-fourth installments on September 30 of 2027, 2028, 2029, and 2030.
  • PSU settlement: 14,700 shares of Class A common stock were issued in settlement of performance-based restricted stock units that vested on November 4, 2026, based on performance criteria covering fiscal years ended September 30, 2024, 2025, and 2026.
  • Tax-withholding surrender: Smith surrendered 14,313 shares of Class A common stock to the issuer to satisfy tax withholding obligations, at a price of $99.24 per share, the closing price on November 4, 2026.
  • Direct beneficial ownership: Following all reported transactions, Smith directly holds 16,009 shares of Class A common stock, including 12,298 restricted shares with time-based vesting.
  • Indirect holdings: Smith indirectly holds an additional 9,333 shares of Class A common stock through Tar Frog Investment Management LLC, where he serves as co-manager.
  • Derivative securities: Smith beneficially owns 407,155 shares of Class B common stock directly, and additional Class B shares indirectly through Tar Frog Investment Management LLC (140,572 shares), FJS3 ROADventure, LLC (60,000 shares), and FJS3 2026 Trust I (20,000 shares).

Construction Partners CEO Smith Reports November 4, 2026 Equity Transactions

According to the filing, Fred Julius Smith III, who serves as President, CEO, and Director of Construction Partners, Inc. (NASDAQ:ROAD), reported three transactions in Class A common stock, all occurring on November 4, 2026. The first was an acquisition of 4,972 restricted shares at no cost, granted under the company's 2018 Equity Incentive Plan. The filing states these shares vest in equal one-fourth installments on September 30, 2027, 2028, 2029, and 2030, subject to Smith's continued service through each vesting date.

The second transaction reflected the issuance of 14,700 shares of Class A common stock in settlement of previously granted performance-based restricted stock units. The filing states the PSUs "vested in a single lump sum based on the satisfaction by the Issuer of certain performance criteria for the three-year period comprising the fiscal years ended September 30, 2024, 2025 and 2026." Concurrently, Smith surrendered 14,313 shares back to the company to cover associated tax withholding obligations. The filing notes the number of shares surrendered was determined using a value of $99.24 per share, described as "the closing price for a share of Class A common stock on November 4, 2026, the vesting date."

Beyond the direct holdings, the filing discloses Smith's indirect interests. He co-manages Tar Frog Investment Management LLC, through which he shares voting and disposition power over 9,333 Class A shares and 140,572 Class B shares. He also serves as sole manager of FJS3 ROADventure, LLC, holding 60,000 Class B shares, and as trustee and sole annuitant of FJS3 2026 Trust I, which directly owns 20,000 Class B shares. The filing notes that Smith and the Trust are members of a 10% owner group of the issuer. Each Class B share is convertible into one Class A share and carries 10 votes per share, according to the filing.

What Was Disclosed

Smith's Form 4 disclosed a restricted share grant of 4,972 Class A shares, a PSU settlement of 14,700 Class A shares, and a tax-withholding surrender of 14,313 Class A shares at $99.24 per share, all on November 4, 2026, plus the reporting person's current direct and indirect beneficial ownership positions.