# EDGAR Filing Document

**Accession Number:** 0001718227
**File Stem:** 0001628280-25-045700
**Filing Date:** 2025-10
**Character Count:** 9744
**Document Hash:** 464e2ea5041de1f54d06fb6ee98d99d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-045700.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0001628280-25-045700

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251017

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251021

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Fleming Ned N. IV
- **CENTRAL INDEX KEY:** 0001987592

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38479
- **FILM NUMBER:** 251407292

**MAIL ADDRESS:**
- **STREET 1:** 5420 LBJ FREEWAY
- **STREET 2:** SUITE 1000
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75240
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Construction Partners, Inc.
- **CENTRAL INDEX KEY:** 0001718227
- **STANDARD INDUSTRIAL CLASSIFICATION:** HEAVY CONSTRUCTION OTHER THAN BUILDING CONST - CONTRACTORS [1600]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 260758017
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**BUSINESS ADDRESS:**
- **STREET 1:** 290 HEALTHWEST DR.
- **STREET 2:** SUITE 2
- **CITY:** DOTHAN
- **STATE:** AL
- **ZIP:** 36303
- **BUSINESS PHONE:** 334.673.9763

**MAIL ADDRESS:**
- **STREET 1:** 290 HEALTHWEST DR.
- **STREET 2:** SUITE 2
- **CITY:** DOTHAN
- **STATE:** AL
- **ZIP:** 36303

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Fleming Ned N. IV<br><sub>(Last) (First) (Middle)</sub><br>5420 LBJ FREEWAY, SUITE 1000<br><sub>(Street)</sub><br>DALLAS, TX 75240<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-10-17 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Member of 10% owner group_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Construction Partners, Inc. [ ROAD ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2025-10-17 |  | A |  | 4925<sup>(1)</sup> | A | $0 | 45682<sup>(2)</sup> | D |  |
| Class A Common Stock | 2025-10-20 |  | F |  | 4154<sup>(3)</sup> | D | $115.01 | 41528<sup>(2)</sup> | D |  |
| Class A Common Stock |  |  |  |  |  |  |  | 9333 | I | By Tar Frog Investment Management LLC<sup>(4)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Class B Common Stock | <sup>(5)</sup> | 2025-10-17 |  | A |  | 12134<sup>(6)</sup> |  | <sup>(5)</sup> | <sup>(5)</sup> | Class A Common Stock | 12134 | $0 | 100869 | D |  |
| Class B Common Stock | <sup>(5)</sup> |  |  |  |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | Class A Common Stock | 241008 |  | 241008 | I | By the Ned N. Fleming, IV 2013 Trust<sup>(7)</sup> |
| Class B Common Stock | <sup>(5)</sup> |  |  |  |  |  |  | <sup>(5)</sup> | <sup>(5)</sup> | Class A Common Stock | 140572 |  | 140572 | I | By Tar Frog Investment Management LLC<sup>(4)</sup> |
| Restricted Stock Units | <sup>(8)</sup> |  |  |  |  |  |  | <sup>(8)</sup> | <sup>(8)</sup> | Class A Common Stock | 1360 |  | 1360<sup>(9)</sup> | D |  |

---

### Footnotes:

(1) The reported transaction represents a grant of immediately vested shares of Class A common stock, $0.001 par value ("Class A common stock"), of Construction Partners, Inc. (the "Issuer") under the Construction Partners, Inc. 2018 Equity Incentive Plan (the "Incentive Plan").

(2) Includes 2,033 restricted shares of Class A common stock with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 1,227 shares on September 30, 2026, (ii) 556 shares on September 30, 2027, and (iii) 250 shares on September 30, 2028. Under the terms of the respective award agreements, the reporting person has sole voting power with respect to the reported shares.

(3) The reported transaction represents the surrender by the reporting person of shares of Class A common stock to the Issuer to satisfy tax withholding obligations upon the vesting of restricted shares of Class A common stock awarded to the reporting person under the Incentive Plan. Pursuant to the terms of the Incentive Plan and the applicable award agreements, the number of shares surrendered was determined using a value of $115.01 per share, the closing price for a share of Class A common stock on October 17, 2025, the vesting date.

(4) The reported shares are held by a limited liability company for which the reporting person serves as co-manager, and, in such capacity, shares the power to vote and direct the disposition of the shares.

(5) Each share of Class B common stock, $0.001 par value, of the Issuer ("Class B common stock") is convertible into one share of Class A common stock (i) at any time at the option of the holder or (ii) upon any transfer, except for certain transfers described in the Issuer's amended and restated certificate of incorporation. 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. The holders of Class A common stock and Class B common stock vote as a single class on all matters submitted to a vote of stockholders. The holders of Class A common stock are entitled to one vote per share, and the holders of the Class B common stock are entitled to 10 votes per share. The shares of Class B common stock do not expire.

(6) The reported transaction represents a grant of immediately vested shares of Class B common stock under the Construction Partners, Inc. 2024 Restricted Stock Plan.

(7) The reported shares are owned directly by the Ned N. Fleming, IV 2013 Trust (the "Trust") and indirectly by Ned N. Fleming, IV as trustee of the Trust. Each of the Trust and Ned N. Fleming, IV are members of a 10% owner group of the Issuer.

(8) Each restricted stock unit ("RSU") represents a contingent right to receive cash in an amount equal to the value of one share of Class A common stock on the applicable vesting date. The restricted stock units do not expire.

(9) Includes 1,360 cash-settled RSUs with time-based vesting criteria previously granted under the Incentive Plan that vest as follows: (i) 554 RSUs on September 30, 2026, (ii) 556 RSUs on September 30, 2027, and (iii) 250 RSUs on September 30, 2028.

**Signature:** /s/ Ned N. Fleming, IV  
**Date:** 2025-10-21

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**