Advanced Drainage Systems 2024 Virtual Annual Meeting Set for July 18

Ticker: WMS · Form: DEF 14A · Filed: Jun 5, 2024 · CIK: 1604028

Advanced Drainage Systems, Inc. DEF 14A Filing Summary
FieldDetail
CompanyAdvanced Drainage Systems, Inc. (WMS)
Form TypeDEF 14A
Filed DateJun 5, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$513.3 million, $923 million
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, annual-meeting, shareholder-notice

Related Tickers: WMS

TL;DR

ADS 2024 virtual shareholder meeting is July 18th. Vote online!

AI Summary

Advanced Drainage Systems, Inc. is holding its 2024 Annual Meeting of Stockholders via webcast on July 18, 2024, at 10:00 a.m. Eastern Time. Stockholders can participate, vote, and submit questions online at www.virtualshareholdermeeting.com/WMS2024. The company is urging stockholders to read the accompanying Notice of Annual Meeting and Proxy Statement for details on the business to be conducted.

Why It Matters

This filing informs shareholders about the upcoming annual meeting where key corporate decisions are made and provides details on how to participate and vote remotely.

Risk Assessment

Risk Level: low — This is a standard proxy statement announcing an annual shareholder meeting and does not contain unusual financial or operational risks.

Key Players & Entities

  • ADVANCED DRAINAGE SYSTEMS, INC. (company) — Registrant
  • July 18, 2024 (date) — Annual Meeting Date
  • 10:00 a.m., Eastern Time (time) — Annual Meeting Time
  • www.virtualshareholdermeeting.com/WMS2024 (url) — Webcast Participation Link
  • Securities and Exchange Commission (company) — Regulatory Body

FAQ

When is the 2024 Annual Meeting of Stockholders for Advanced Drainage Systems, Inc.?

The 2024 Annual Meeting of Stockholders will be held on Thursday, July 18, 2024, at 10:00 a.m., Eastern Time.

How can stockholders attend and participate in the Annual Meeting?

Stockholders can attend, vote, and submit questions via live webcast by visiting www.virtualshareholdermeeting.com/WMS2024.

Can stockholders attend the Annual Meeting in person?

No, this year's Annual Meeting will be a virtual meeting, and stockholders will not be able to attend in person.

What information should stockholders review before the meeting?

Stockholders are urged to read the accompanying Notice of Annual Meeting of Stockholders and Proxy Statement carefully for details of the business to be conducted.

Can a stockholder revoke their proxy and vote during the Annual Meeting?

Yes, if a stockholder participates in the Annual Meeting via the live webcast, they may revoke their proxy and vote during the meeting, even if they have previously submitted a proxy.

Filing Stats: 4,715 words · 19 min read · ~16 pages · Grade level 12.1 · Accepted 2024-06-05 16:06:13

Key Financial Figures

  • $513.3 million — ty. In fiscal year 2024, Net Income was $513.3 million and Adjusted EBITDA (non-GAAP) increase
  • $923 million — TDA (non-GAAP) increased 2% to a record $923 million despite a weak demand environment in th

Filing Documents

Executive Compensation Highlights – Fiscal Year 2024

Executive Compensation Highlights – Fiscal Year 2024 23 Named Executive Officers 25

Executive Compensation Program Overview

Executive Compensation Program Overview 25 Benefits and Executive Perquisites 34 Other Executive Compensation Policies and Practices 36 Accounting and Tax Considerations 37 Compensation and Management Development Committee Report 37 Compensation Outcomes for 2024 38 Pay-Versus-Performance 42 Employment Agreements 44 Equity-Based Incentive Plans 48 AUDIT COMMITTEE MATTERS 51 Proposal Two: Ratification of the Appointment of Deloitte & Touche LLP as the Company's Independent Registered Public Accounting Firm for Fiscal Year 202 5 51 Other Independent Registered Public Accounting Firm Information 51 Report of the Audit Committee 52 STOCK OWNERSHIP INFORMATION 53

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 53 Equity Compensation Plan Information 54 Certain Relationships and Related-Party Transactions 54 Delinquent Sections 16(A) Reports 55 Proposal Three: Advisory Vote on Executive Compensation 55 STOCKHOLDER PROPOSALS FOR 2025 ANNUAL MEETING 56 Miscellaneous 56 - iii - PROXY STATEMENT Advanced Drainage Systems, Inc. (which we refer to as "we," "us," "our," "ADS" or the "Company") is furnishing this proxy statement in connection with the solicitation by our Board of Directors (our "Board") of proxies to vote at the Annual Meeting of Stockholders, to be held via webcast on July 18, 2024 (the "Annual Meeting" or the "2024 Annual Meeting"), or at any adjournment or postponement thereof. A copy of this proxy statement, the proxy card and our Annual Report for the fiscal year ended March 31, 2024 can be found at the web address www.proxyvote.com. We will begin mailing a Notice of Internet Availability of Proxy Materials (the "Notice") on or about June 5, 2024 to stockholders of record at the close of business on May 24, 2024. The Notice contains instructions on how to access our proxy statement, our fiscal year 2024 Annual Report to Stockholders and the form of proxy on the Internet, as well as instructions on how to request a paper copy of the proxy materials. We first sent these proxy materials to our stockholders on or about June 5, 2024. References in this proxy statement to the Company's "2024 Annual Meeting" and "2025 Annual Meeting" shall mean the annual meeting of stockholders to occur following each of the fiscal years ended March 31, 2024 and 2025, respectively. A reconciliation of EBITDA and Adjusted EBITDA to Net Income and an explanation of Adjusted EBITDA has been provided in Annex A included in this proxy statement. QUESTIONS AND ANSWERS ABOUT THIS PROXY STATEMENT AND THE ANNUAL MEETING Who is soliciting my proxy with this Proxy Statement? The Company is soliciting y

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