Construction Partners: 10% owner Ned N. Fleming III sold 20,160 shares

What happened Ned N. Fleming III, a 10% owner, reported both a disposition and an acquisition of 20,160 shares on Oct 8, 2026. The Form 4 shows a disposal of 20,160 shares of Class A common stock (code J) at $0 and an acquisition of 20,160 shares of Class B common stock (code J, derivative) at $0.

Key details

• Transaction date and price: Oct 8, 2026; both entries at $0; transaction code J (other acquisition/disposition).
• Shares owned after the transaction: not specified in the filing excerpt provided.
• Relevant footnotes: F1 describes a privately negotiated exchange of Class A for an equal number of Class B shares with no sale price and a voluntary disgorge provision for matchable profits within six months; F2 notes each Class B share is convertible into one Class A share; F3 discloses 24,000 restricted Class B shares with time-based vesting; F10 and F11 identify certain shares held in a 401(k) account and a corporation controlled by Mr. Fleming, respectively.
• Filing date and timeliness: Form filed Oct 13, 2026, reporting transactions dated Oct 8, 2026; the report does not indicate a late filing.

Why it may matter

• The transaction was a private share exchange between share classes (not an open-market sale) per the filing.
• As a 10% owner, Mr. Fleming is a large holder rather than described as a company executive in this report.
• The acquired Class B shares are convertible into Class A shares under the issuer's charter per F2.
  This filing does not show why the insider traded or why the company acted.