Cottrill Scott A 4

What Happened Scott A. Cottrill, EVP, Chief Financial Officer and Secretary of Advanced Drainage Systems, Inc. (WMS), had 604 shares of the company's common stock withheld to satisfy tax obligations tied to the vesting of restricted stock. The filing reports those 604 shares at an effective price of $133.00 per share, a total value of $80,332. This was a tax-withholding disposition (code F), not an open-market sale.

Key Details

• Transaction date: 2026-05-22; Filing date: 2026-05-27 (appears filed after the typical 2-business-day Form 4 window).
• Shares withheld/disposed: 604 at $133.00 each; total ~$80,332.
• Shares owned following the transaction: not specified in the provided filing data.
• Footnotes from the filing:
  • F1: Shares were withheld to satisfy the reporting person's tax obligations on vested restricted stock.
  • F2: 89 shares noted as acquired under the Employee Stock Purchase Plan (exempt under Rule 16b-3(c)).
  • F3: Represents current allocation under the KSOP.
• Transaction code: F = tax withholding (routine disposition to cover taxes).

Context Tax-withholding transactions are routine administrative actions when restricted stock vests and do not reflect a deliberate open-market sale or direct change in insider sentiment. For retail investors, these actions are typically neutral signals — they reduce the insider’s share count but do not indicate intentional liquidity-taking or a directional bet on the stock.