ADVANCED DRAINAGE SYSTEMS, INC. — Director's Dealing 2025

Nov 13, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK: 0001604028
Period of Report: 2025-11-12

Reporting Person: BARBOUR D. SCOTT (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-12	Common Stock	M	80030	$25.75	Acquired	122897	Direct
2025-11-12	Common Stock	S	4538	$148.0070	Disposed	118359	Direct
2025-11-12	Common Stock	S	73462	$148.9597	Disposed	44897	Direct
2025-11-12	Common Stock	S	2030	$150.6551	Disposed	42867	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-12	Option to Purchase Common Stock	$25.75	M	80030	Disposed	2028-05-23	Common Stock (80030)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	69491	Indirect
Common Stock	98805	Indirect
Common Stock	6495	Indirect
Common Stock	69005	Indirect
Common Stock	25111	Indirect
Common Stock	26367	Indirect
Common Stock	16997.0469	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $148.00 to $148.9999, 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.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $149.54 to $150.5399, 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 (2) to this Form 4.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $150.61 to $151.6099, 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 (3) to this Form 4.

F4: Shares held in revocable trust for the benefit of the reporting person.

F5: Shares held in irrevocable spousal access trust established by the reporting person, of which the reporting person's spouse is a co-trustee. The beneficiaries of the irrevocable trust are the reporting person and his children.

F6: Shares held in revocable trust for the benefit of the reporting person's spouse.

F7: Shares held in irrevocable spousal access trust established by the reporting person's spouse, of which the reporting person is a co-trustee. The beneficiaries of the irerrevocable trust include the reporting person's spouse and his children.

F8: Shares held in GRATs of which the reporting person is trustee.

F9: Represents current allocation under KSOP.

F10: The options vested in three equal annual installments beginning on May 23, 2019.