TALLEY KEVIN C 4

What Happened

• Kevin C. Talley, EVP and CAO of Advanced Drainage Systems (WMS), had 324 shares withheld to satisfy tax obligations tied to the vesting of restricted common stock. The withholding was recorded at $133.00 per share, totaling $43,092. This was a tax-withholding disposition (not an open-market sale).

Key Details

• Transaction date: 2026-05-22; per-share value used for withholding: $133.00; total value: $43,092.
• Transaction type/code: F — shares withheld to satisfy tax obligations on vesting of restricted stock.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: F1 confirms shares were withheld to satisfy tax obligations on vesting; F2 notes 49 shares acquired under the company ESPP (exempt under Rule 16b-3(c)); F3 refers to current allocation under the KSOP.
• Filing date: 2026-05-27 (filed 5 days after the reported transaction). Form 4s are typically due within 2 business days, so this filing appears delayed.

Context

• This was a routine tax-withholding event tied to the vesting of restricted stock, not an open-market sale or new purchase. Such withholdings are standard and generally do not signal a change in insider sentiment about the company.