Martz Bret 4

What Happened
Bret Martz, Executive Vice President, Sales at Advanced Drainage Systems (WMS), had 114 shares withheld on May 19, 2026 to satisfy tax obligations tied to the vesting of restricted common stock. The withholding was reported at $131.59 per share, for a total value of approximately $15,001. This was a tax-withholding disposition (Form 4 code F), not an open-market sale.

Key Details

• Transaction date and price: 2026-05-19; 114 shares at $131.59 each; total ≈ $15,001.
• Transaction type/code: Tax withholding to satisfy tax liability upon vesting (code F; footnote F1).
• Shares owned after transaction: Not disclosed in the provided filing.
• Filing timeliness: Form 4 filed 2026-05-21 — appears filed within the required two business days.
• Role: Reporting person is Executive Vice President, Sales (per remarks).

Context
This is a routine cashless-like tax withholding tied to restricted stock vesting and is common for executives when shares vest. It should be viewed differently than an open-market sale (which can signal a disposition for liquidity or other reasons); tax withholding alone does not necessarily indicate the insider's broader sentiment about the company.