Other Comprehensive Income (Loss)

3 Months Ended

Dec. 31, 2025

Other Comprehensive Income (Loss), Tax [Abstract]

Equity

Shares of Class A common stock and Class B common stock are identical, except with respect to voting rights, conversion rights and transfer restrictions applicable to shares of Class B common stock. The holders of Class A common stock are entitled to one vote per share, and the holders of Class B common stock are entitled to ten votes per share. The holders of Class A common stock and Class B common stock vote together as a single class on all matters submitted to a vote of stockholders, including the election of directors, unless otherwise required by applicable law or the Company’s certificate of incorporation or bylaws. Shares of Class B common stock are convertible into shares of Class A common stock at any time at the option of the holder or upon any transfer, subject to certain limited exceptions. In addition, upon the election of the holders of a majority of the then-outstanding shares of Class B common stock, all outstanding shares of Class B common stock will be converted into shares of Class A common stock. Once converted into shares of Class A common stock, shares of Class B common stock will not be reissued. Class A common stock is not convertible into any other class of the Company’s capital stock.

Conversion of Class B Common Stock to Class A Common Stock

During the three months ended December 31, 2025, certain stockholders of the Company converted a total of 30,000 shares of Class B common stock into shares of Class A common stock on a one-for-one basis. As of December 31, 2025, there were 47,977,529 shares of Class A common stock and 8,549,118 shares of Class B common stock outstanding.

Issuance of Class A Common Stock

During the three months ended December 31, 2025, the Company issued 437,169 shares of Class A common stock in connection with the P&S Acquisition. Additional information about the P&S Acquisition is set forth in Note 4 - Business Acquisitions.

Treasury Stock

During the three months ended December 31, 2025, the Company received a total of 165,921 shares of Class A common stock and 6,845 shares of Class B common stock from employees for reimbursement of income taxes paid by the Company on behalf of these employees related to the vesting of restricted stock awards and 337 shares of Class A common stock through forfeitures of unvested restricted stock awards by terminated employees.

During the three months ended December 31, 2025, pursuant to its stock repurchase plan, the Company repurchased 15,382 shares of Class A common stock for aggregate consideration of approximately $1.6 million through open market transactions.

Restricted Stock Awards

During the three months ended December 31, 2025, the Company awarded to certain directors, officers and employees of the Company a total of 142,803 restricted shares of Class A common stock under the Construction Partners, Inc. 2018 Equity Incentive Plan (the “Equity Incentive Plan”) and 47,798 restricted shares of Class B common stock under the Construction Partners, Inc. 2024 Restricted Stock Plan (the "Restricted Stock Plan"). These totals include 33,987 shares of Class A common stock awarded under the Equity Incentive Plan and 47,798 shares of Class B common stock awarded under the Restricted Stock Plan in connection with a transaction bonus related to the P&S Acquisition.

Performance Stock Units

During the three months ended December 31, 2025, the Company issued a total of 127,317 shares of Class A common stock and paid $2.5 million in cash in settlement of vested performance stock units (“PSUs”) under the Equity Incentive Plan. PSUs vested based on the achievement of certain Company performance metrics established by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”).

Additional information about these transactions is set forth in Note 13 - Share-Based Compensation.

Other Comprehensive Income (Loss)

Comprehensive income (loss) comprises two subsets: net income and OCI. The components of other comprehensive income (loss) are presented in the accompanying Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Stockholders’ Equity, net of applicable taxes. The Company’s interest rate swap contract hedge included in other comprehensive

income was entered into on July 1, 2022 with an original notional value of $300.0 million. The maturity date of this swap is June 30, 2027.

Amounts in accumulated other comprehensive income (“AOCI”), net of tax, at December 31, 2025 and September 30, 2025, were as follows (in thousands):


AOCI	December 31, 2025 (unaudited)		September 30, 2025

Interest rate swap contract, net of blend and extend arrangement	$	4,128	$	5,705
Unrealized gain on available-for-sale securities	191		146
Less tax effect of other comprehensive income items	(1,124)		(1,482)
Total	3,195		4,369

Changes in AOCI, net of tax, are as follows (in thousands):



AOCI
Balance at September 30, 2025	$	4,369
Net OCI changes	(1,174)
Balance at December 31, 2025 (unaudited)	$	3,195



AOCI
Balance at September 30, 2024	$	7,502
Net OCI changes	2,536
Balance at December 31, 2024 (unaudited)	$	10,038

Amounts reclassified from AOCI to earnings are as follows (unaudited, in thousands):



	For the Three Months Ended December 31,
	2025		2024
Interest expense (benefit)	$	(1,659)	$	(2,185)
Realized loss on restricted investments	9		19
Expense (benefit) from income taxes	399		524
Total reclassifications from AOCI to earnings	$	(1,251)	$	(1,642)

- Definition

The entire disclosure for equity.

+ References

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+ Details

Construction Partners, Inc. 10-Q