12/11/2024 | Press release | Distributed by Public on 12/11/2024 16:50
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |
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 control number. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Class B Common Stock | (16) | 12/06/2024 | C(2) | 101,021 | (16) | (16) | Class A Common Stock | 101,021 | $ 0 | 2,510,682 | I | By SunTx Capital Partners II, L.P.(3)(4)(5) | |||
Class B Common Stock | (16) | 12/06/2024 | J(6) | 22,360 | (16) | (16) | Class A Common Stock | 22,360 | $ 0 | 2,488,322 | I | By SunTx Capital Partners II, L.P.(3)(4)(5) | |||
Class B Common Stock | (16) | 12/06/2024 | C(2) | 53,221 | (16) | (16) | Class A Common Stock | 53,221 | $ 0 | 1,255,186 | I | By SunTx Capital Partners II Dutch Investors, L.P.(3)(4)(7) | |||
Class B Common Stock | (16) | 12/06/2024 | J(8) | 440 | (16) | (16) | Class A Common Stock | 440 | $ 0 | 1,254,746 | I | By SunTx Capital Partners II Dutch Investors, L.P.(3)(4)(7) | |||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 4,000 | 4,000 | I | By Fleming Family Management Trust(17) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 71,515 | 71,515 | D(13) | ||||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 1,535,857 | 1,535,857(18) | I | By Malachi Holdings Limited Partnership(19) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 355,179 | 355,179(20) | I | By CJCT Associates Limited Partnership(21) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 4,942 | 4,942(22) | I | By AMDG Associates II, L.P.(23) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 10,621 | 10,621(24) | I | By SunTx Capital Savings Plan, FBO Ned N. Fleming, III(25) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 272 | 272 | I | By Boyle Fleming & Co. Inc.(26) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 674 | 674 | I | By SunTx Capital II Management Corp.(3)(4)(27) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 300,000 | 300,000 | I | By NNFIII ROAD, LLC(28) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 23 | 23(29) | I | By SunTx Capital Partners II G.P., L.P.(3)(4)(30) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 125 | 125(31) | I | By SunTx Capital Savings Plan, FBO Mark Matteson(32) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 102 | 102(33) | I | By SunTx Capital Savings Plan, FBO Craig Jennings(34) | |||||||
Class B Common Stock | (16) | (16) | (16) | Class A Common Stock | 400,715 | 400,715 | I | By AMDG Associates, L.P.(35) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
SunTx Capital II Management Corp. 5420 LBJ FREEWAY, SUITE 1000 DALLAS, TX 75240 |
X | X | ||
Fleming Ned N III 5420 LBJ FREEWAY, SUITE 1000 DALLAS, TX 75240 |
X | X | ||
Jennings Craig 5420 LBJ FREEWAY, SUITE 1000 DALLAS, TX 75240 |
X | X | ||
Matteson Mark R 5420 LBJ FREEWAY, SUITE 1000 DALLAS, TX 75240 |
X | X | ||
SUNTX CAPITAL PARTNERS II LP 5420 LBJ FREEWAY, SUITE 1000 DALLAS, TX 75240 |
X | X | ||
SUNTX CAPITAL PARTNERS II DUTCH INVESTORS LP 5420 LBJ FREEWAY, SUITE 1000 DALLAS, TX 75240 |
X | X |
NED N. FLEMING, III, /s/ Ned N. Fleming, III | 12/11/2024 |
**Signature of Reporting Person | Date |
CRAIG JENNINGS, /s/ Craig Jennings | 12/11/2024 |
**Signature of Reporting Person | Date |
MARK R. MATTESON, /s/ Mark R. Matteson | 12/11/2024 |
**Signature of Reporting Person | Date |
SUNTX CAPITAL PARTNERS II, L.P., By: SunTx Capital Partners II GP, L.P., its general partner, By: SunTx Capital II Management Corp., its general partner, By: /s/ Ned N. Fleming, III, Name: Ned N. Fleming, III, Title: Director | 12/11/2024 |
**Signature of Reporting Person | Date |
SUNTX CAPITAL PARTNERS II DUTCH INVESTORS, L.P., By: SunTx Capital Partners II GP, L.P., its general partner, By: SunTx Capital II Management Corp., its general partner, By: /s/ Ned N. Fleming, III, Name: Ned N. Fleming, III, Title: Director | 12/11/2024 |
**Signature of Reporting Person | Date |
SUNTX CAPITAL II MANAGEMENT CORP., By: /s/ Ned N. Fleming, III, Name: Ned N. Fleming, III, Title: Director | 12/11/2024 |
**Signature of Reporting Person | Date |
* | 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). |
(1) | This Form 4 is filed jointly by Ned N. Fleming, III, Craig Jennings, Mark R. Matteson, SunTx Capital Partners II, L.P. ("SunTx Partners II"), SunTx Capital Partners II Dutch Investors, L.P. ("SunTx Partners Dutch LP"), and SunTx Capital II Management Corp. ("SunTx Capital II Management," and collectively, the "Reporting Persons"). |
(2) | Pursuant to the Amended and Restated Certificate of Incorporation of Construction Partners, Inc. (the "Issuer"), shares of the Issuer's Class B common stock, par value $0.001 per share ("Class B common stock"), automatically converted on a one-for-one basis into shares of the Issuer's Class A common stock, par value $0.001 per share ("Class A common stock"), upon the distributions described in this Form 4. |
(3) | The general partner of each of SunTx Partners II and SunTx Partners Dutch LP (SunTx Partners Dutch LP and SunTx Partners II are together referred to herein as the "SunTx Funds") is SunTx Capital Partners II GP, L.P. ("SunTx Partners II GP"). The general partner of SunTx Partners II GP is SunTx Capital II Management (SunTx Capital II Management and SunTx Partners II GP are referred to herein as the "SunTx Group"). Mr. Fleming, a director of the Issuer, is the majority shareholder and sole director of SunTx Capital II Management. Mr. Jennings and Mr. Matteson, each a director of the Issuer, are shareholders of SunTx Capital II Management. |
(4) | (Continued from Footnote 3) Mr. Fleming, Mr. Jennings, and Mr. Matteson each may be deemed to beneficially own securities of the Issuer held by certain entities in the SunTx Group, and the SunTx Group may be deemed to beneficially own securities of the Issuer held by the SunTx Funds. Each such entity and person disclaims beneficial ownership of such securities except to the extent of its or his pecuniary interest therein, and this report shall not be deemed an admission that any such entity or person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose. |
(5) | These securities of the Issuer are directly held by SunTx Partners II. |
(6) | SunTx Partners II distributed these shares to its limited partners for no consideration. |
(7) | These securities of the Issuer are directly held by SunTx Partners Dutch LP. |
(8) | SunTx Partners Dutch LP distributed these shares to its limited partners for no consideration. |
(9) | The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.47 to $100.42, inclusive. Mr. Jennings undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4. |
(10) | Includes 5,667 restricted shares of Class A common stock granted to Mr. Jennings under the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Incentive Plan"), which will vest on January 1, 2025. |
(11) | Securities held directly by Mr. Jennings. |
(12) | Includes 14,168 of restricted shares of Class A common stock granted to Mr. Fleming under the Incentive Plan, which will vest on January 1, 2025. |
(13) | Securities held directly by Mr. Fleming. |
(14) | Includes 5,667 restricted shares of Class A common stock of the Issuer granted to Mr. Matteson under the Incentive Plan, which will vest on January 1, 2025. |
(15) | Securities held directly by Mr. Matteson. |
(16) | Each share of Class B common stock is convertible into one share of Class A common stock (i) at any time at the option of the holder or (ii) upon any transfer, except for certain transfers described in the Issuer's Amended and Restated Certificate of Incorporation. In addition, upon the election of the holders of a majority of the then-outstanding shares of Class B common stock, all outstanding shares of Class B common stock will be converted into shares of Class A common stock. The holders of Class A common stock and Class B common stock vote as a single class on all matters submitted to a vote of stockholders. The holders of Class A common stock are entitled to one vote per share, and the holders of the Class B common stock are entitled to 10 votes per share. The shares of Class B common stock do not expire. |
(17) | These securities of the Issuer are directly held by The Fleming Family Management Trust, a trust of which Mr. Fleming's spouse is the sole trustee and sole beneficiary. Mr. Fleming may be deemed to beneficially own securities of the Issuer held by such trust. Mr. Fleming disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. |
(18) | Includes (i) 10,097 shares of Class B common stock received in a distribution from SunTx Partners II and (ii) 201 shares of Class B common stock received in a distribution from SunTx Partners Dutch LP. Such acquisitions were exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13 promulgated thereunder. |
(19) | These securities of the Issuer are directly held by Malachi Holdings Limited Partnership, a limited partnership controlled by Mr. Fleming. Mr. Fleming may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Fleming disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Fleming is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. |
(20) | Includes (i) 3,924 shares of Class B common stock received in a distribution from SunTx Partners II and (ii) 77 shares of Class B common stock received in a distribution from SunTx Partners Dutch LP. Such acquisitions were exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13 promulgated thereunder. |
(21) | These securities of the Issuer are directly held by CJCT Associates Limited Partnership, a limited partnership controlled by Mr. Jennings. Mr. Jennings may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Jennings disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Jennings is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. |
(22) | Includes (i) 4,846 shares of Class B common stock received in a distribution from SunTx Partners II and (ii) 96 shares of Class B common stock received in a distribution from SunTx Partners Dutch LP. Such acquisitions were exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13 promulgated thereunder. |
(23) | These securities of the Issuer are directly held by AMDG Associates II, L.P., a limited partnership controlled by Mr. Matteson. Mr. Matteson may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Matteson disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Matteson is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. |
(24) | Includes (i) 2,146 shares of Class B common stock received in a distribution from SunTx Partners II and (ii) 42 shares of Class B common stock received in a distribution from SunTx Partners Dutch LP. Such acquisitions were exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13 promulgated thereunder. |
(25) | These securities of the Issuer are directly held by SunTx Capital Savings Plan, FBO Ned N. Fleming, III, a 401(k) account for the benefit of Mr. Fleming. |
(26) | These securities of the Issuer are directly held by Boyle Fleming & Co. Inc., a corporation controlled by Mr. Fleming. Mr. Fleming may be deemed to beneficially own securities of the Issuer held by such corporation. Mr. Fleming disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Fleming is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. |
(27) | These securities of the Issuer are directly held by SunTx Capital II Management. |
(28) | These securities of the Issuer are directly held by NNFIII ROAD, LLC, a limited liability company controlled by Mr. Fleming. |
(29) | Represents shares of Class B common stock received in a distribution from SunTx Partners II. The acquisition of such shares was exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13 promulgated thereunder. |
(30) | These securities of the Issuer are directly held by SunTx Partners II GP. |
(31) | Includes (i) 123 shares of Class B common stock received in a distribution from SunTx Partners II and (ii) 2 shares of Class B common stock received in a distribution from SunTx Partners Dutch LP. Such acquisitions were exempt from Section 16 of the Exchange Act pursuant to Rule 16a-13 promulgated thereunder. |
(32) | These securities of the Issuer are directly held by SunTx Capital Savings Plan, FBO Mark Matteson, a 401(k) account for the benefit of Mr. Matteson. |
(33) | Includes (i) 100 shares of Class B common stock received in a distribution from SunTx Partners II and (ii) 2 shares of Class B common stock received in a distribution from SunTx Partners Dutch LP. Such acquisitions were exempt from Section 16 pursuant to Rule 16a-13 promulgated thereunder. |
(34) | These securities of the Issuer are directly held by SunTx Capital Savings Plan, FBO Craig Jennings, a 401(k) account for the benefit of Mr. Jennings. |
(35) | These securities of the Issuer are directly held by AMDG Associates Limited Partnership, a limited partnership controlled by Mr. Matteson. Mr. Matteson may be deemed to beneficially own securities of the Issuer held by such limited partnership. Mr. Matteson disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Matteson is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or for any other purpose. |
Remarks: Each of Ned N. Fleming, III, Craig Jennings and Mark R. Matteson serves on the Board of Directors of the Issuer. For purposes of Section 16 of the Exchange Act, the Reporting Persons other than Mr. Fleming, Mr. Jennings and Mr. Matteson are deemed directors by deputization by virtue of their representation on the Board of Directors of the Issuer. |