ADVANCED DRAINAGE SYSTEMS, INC. — Director's Dealing 2024

May 22, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK: 0001604028
Period of Report: 2024-05-18

Reporting Person: WAUN THOMAS J. SR. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-18	Common Stock	F	118	$174.13	Disposed	11717	Direct
2024-05-19	Common Stock	F	78	$174.13	Disposed	11639	Direct
2024-05-20	Common Stock	A	991	—	Acquired	12630	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-05-20	Option to Purchase Common Stock	$177.38	A	2064	Acquired	2034-05-20	Common Stock (2064)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2054.0123	Indirect

Footnotes

F1: Represents shares withheld to satisfy Reporting Person's tax obligations in connection with the vesting of shares of restricted common stock of the Issuer.

F2: Represents current allocation under KSOP.

F3: The options vest in three equal annual installments beginning on May 20, 2025, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.