MAKOWSKI TIM A 4

What Happened

• Tim A. Makowski, Vice President, Controller and Chief Accounting Officer of Advanced Drainage Systems, had 129 shares withheld to satisfy tax obligations in connection with the vesting of restricted common stock. The withholding is reported as a disposition at $133.00 per share, totaling $17,157, with the transaction dated 2026-05-22.

Key Details

• Transaction date: 2026-05-22; Report filed: 2026-05-27 (filed within the typical two business-day window, appears timely).
• Price and value: 129 shares at $133.00 per share = $17,157.
• Shares owned after transaction: Not specified in the provided filing extract.
• Footnotes: F1 = shares withheld to satisfy the Reporting Person’s tax obligations on vesting of restricted stock; F2 = represents current allocation under KSOP (company stock ownership/401(k) plan).
• Transaction code: F (tax withholding / payment of tax liability), not an open-market sale (S) or purchase (P).

Context

• This was a tax-withholding disposition tied to vesting of restricted stock — essentially the company retained shares to cover taxes. Such withholdings are administrative and do not necessarily reflect insider sentiment about the stock. It is different from an open-market sale or a deliberate purchase/option exercise followed by market sale.