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

Feb 16, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK: 0001604028
Period of Report: 2024-02-14

Reporting Person: MAKOWSKI TIM A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-02-14	Common Stock	M	2802	$25.75	Acquired	9050	Direct
2024-02-14	Common Stock	M	5469	$27.44	Acquired	14519	Direct
2024-02-14	Common Stock	S	8271	$161.6867	Disposed	6248	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-02-14	Option to Purchase Common Stock	$25.75	M	2802	Disposed	2028-05-23	Common Stock (2802)	Direct
2024-02-14	Option to Purchase Common Stock	$27.44	M	5469	Disposed	2029-05-21	Common Stock (5469)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17558.7398	Indirect

Footnotes

F1: Includes 101 shares of common stock acqued under the Advanced Drainage Systems, Inc.'s Employee Stock Purchase Plan, exempt under Rule 16b-3(c).

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $161.37 to $162.02, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

F3: Represents current allocation under KSOP.

F4: The options vested in three equal annual installments beginning on May 23, 2019.

F5: The options vested in three equal annual installments beginning on May 21, 2020.