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

May 22, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ADVANCED DRAINAGE SYSTEMS, INC. (WMS)
CIK: 0001604028
Period of Report: 2025-05-19

Reporting Person: MAKOWSKI TIM A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-19	Common Stock	A	1016	—	Acquired	7691	Direct
2025-05-19	Common Stock	F	105	$121.86	Disposed	7586	Direct
2025-05-20	Common Stock	F	85	$118.39	Disposed	7501	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-19	Option to Purchase Common Stock	$119.3	A	2166	Acquired	2035-05-20	Common Stock (2166)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	17557.1858	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 19, 2026, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.