Martz Bret 4

What Happened
Bret Martz, Executive Vice President, Sales at Advanced Drainage Systems (WMS), had 107 shares of restricted common stock disposed (withheld) on March 17, 2026 at $139.85/share, a total value of $14,964. The Form 4 records this as an other disposition (code J) with a footnote indicating the shares were withheld to satisfy tax obligations upon vesting.

Key Details

• Transaction date: 2026-03-17; Price: $139.85 per share; Total value: $14,964.
• Transaction type/code: Other disposition (J); footnote F1: shares withheld for tax withholding on vesting.
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing: Form 4 filed 2026-03-19 (timely based on the reported transaction date).

Context
This was a tax-withholding/settlement of vested restricted stock, not an open-market sale — the company withheld shares to cover the insider's tax bill. Such withholdings are routine and generally do not indicate a change in the insider’s view of the company.