• SEC Filings

On September 1, 2017, Advanced Drainage Systems, Inc. (the “Company”) and D. Scott Barbour, the Company’s President and Chief Executive Officer, entered into award agreements for the issuance by the Company of 55,697 shares of restricted stock and 185,827 nonqualified stock options, which awards were made to Mr. Barbour as part of his appointment as the Company’s President and Chief Executive Officer.

The restricted stock award vests in three equal annual installments beginning on September 1, 2018, provided that Mr. Barbour remains in continuous service with the Company through the relevant vesting date. Upon death or disability all restricted stock awarded not previously vested or forfeited will vest on such date. The nonqualified stock options provide for the right to purchase the Company’s common stock at an exercise price of $19.75 per share, with options becoming vested in three equal annual installments beginning on September 1, 2018, provided that Mr. Barbour remains in continuous service with the Company through the relevant vesting date. The options have an expiration date of September 1, 2027. Upon death or disability all options awarded not previously vested or forfeited will vest on such date.

The foregoing awards were made under the Company’s 2017 Omnibus Incentive Plan (the “2017 Incentive Plan”) which was approved by the Company’s stockholders on July 17, 2017. The 2017 Incentive Plan provides for the award of stock options, restricted stock, restricted stock units, stock appreciation rights, phantom stock, cash-based awards, performance awards (which may take the form of performance cash, performance units or performance shares) and other stock-based awards. The 2017 Incentive Plan is filed as Exhibit 10.1 attached hereto and is described in more detail in the Company’s proxy statement for the 2017 Annual Meeting, as thereby amended. The description of each of the awards granted to Mr. Barbour is qualified by reference to the full text of the forms of such award agreements entered into between the Company and Mr. Barbour, copies of which are attached as Exhibits 10.2 and 10.3 and incorporated herein by reference. Such forms may be used in connection with future grants of restricted stock and stock options to eligible participants in the 2017 Incentive Plan.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

10.1Advanced Drainage Systems, Inc. 2017 Omnibus Incentive Plan.

10.2Form of Restricted Stock Award Notice and Award Agreement.

10.3Form of Notice of Grant of Stock Options and Stock Option Award Agreement.

ADVANCED DRAINAGE SYSTEMS, INC. Exhibit
EX-10.1 2 wms-ex101_8.htm EX-10.1 wms-ex101_8.htm Exhibit 10.1 ADVANCED DRAINAGE SYSTEMS,…
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About Advanced Drainage Systems, Inc. (NYSE:WMS)

Advanced Drainage Systems, Inc. is engaged in designing, manufacturing and marketing of thermoplastic corrugated pipe and related water management products, primarily in North and South America, and Europe. The Company operates through two segments: Domestic and International. The Domestic segment manufactures and markets products throughout the United States. The International segment manufactures and markets products in certain regions outside of the United States, with a focus on its owned facilities in Canada and through its joint ventures with local partners in Mexico, Central America and South America. Its product line includes corrugated high density polyethylene (HDPE) pipe, polypropylene (PP) pipe and related water management products. Its products are used across a range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications.

Advanced Drainage Systems, Inc. (NYSE:WMS) Recent Trading Information

Advanced Drainage Systems, Inc. (NYSE:WMS) closed its last trading session up +0.45 at 20.90 with 292,453 shares trading hands.