Principal Financial Amends ADS Ownership, ESOP Holds Shares

TL;DR

**Principal Financial Group updated its stake in Advanced Drainage Systems, Inc. via an ESOP.**

AI Summary

Principal Financial Group Inc. has filed an amended SC 13G/A, indicating a change in its beneficial ownership of Advanced Drainage Systems, Inc. (ADS) common stock as of December 31, 2023. The filing shows that Delaware Charter Guarantee & Trust Company, dba Principal Trust Company, as Directed Trustee for the Advanced Drainage Systems Inc. Employee Stock Ownership Plan, is the reporting person. This matters to investors because it provides transparency into institutional ownership changes, which can influence stock perception and liquidity.

Why It Matters

This filing updates the public on how much of Advanced Drainage Systems, Inc. stock is held by Principal Financial Group through an employee stock ownership plan, offering insight into institutional holdings.

Risk Assessment

Risk Level: low — This is a routine amendment to an ownership filing and does not indicate any immediate significant risk to investors.

Analyst Insight

Investors should note this routine update on institutional ownership, but it doesn't suggest any immediate buy or sell action. It's a transparency filing, not a signal of strategic change.

Key Players & Entities

• Principal Financial Group Inc. (company) — the entity filing the SC 13G/A amendment
• Advanced Drainage Systems, Inc. (company) — the issuer whose securities are being reported
• Delaware Charter Guarantee & Trust Company (company) — dba Principal Trust Company, acting as Directed Trustee for the ESOP
• Advanced Drainage Systems Inc. Employee Stock Ownership Plan (company) — the plan for which shares are held

FAQ

From the Filing

0001126328-24-000022.txt : 20240209 0001126328-24-000022.hdr.sgml : 20240209 20240209142502 ACCESSION NUMBER: 0001126328-24-000022 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ADVANCED DRAINAGE SYSTEMS, INC. CENTRAL INDEX KEY: 0001604028 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS FOAM PRODUCTS [3086] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 510105665 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-88258 FILM NUMBER: 24614024 BUSINESS ADDRESS: STREET 1: 4640 TRUEMAN BOULEVARD CITY: HILLIARD STATE: OH ZIP: 43026 BUSINESS PHONE: 614-658-0050 MAIL ADDRESS: STREET 1: 4640 TRUEMAN BOULEVARD CITY: HILLIARD STATE: OH ZIP: 43026 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PRINCIPAL FINANCIAL GROUP INC CENTRAL INDEX KEY: 0001126328 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] ORGANIZATION NAME: 02 Finance IRS NUMBER: 421520346 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392 BUSINESS PHONE: 5152475111 MAIL ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392 SC 13G/A 1 a13gaadvanceddrainagesyste.htm 13G/A ADVANCED DRAINAGE SYSTEMS, INC. AMDT 1 123123 Document CUSIP No. 00790R104 13G/A Page 1 of 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 1) * Advanced Drainage Systems, Inc. ( Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 00790R104 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) o Rule 13d-1(c) o Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 00790R104 13G/A Page 2 of 5 1. Name of Reporting Persons. I.R.S. Identification No. of above persons (entities only). Delaware Charter Guarantee & Trust Company dba Principal Trust Company as Directed Trustee for the Advanced Drainage Systems Inc. Employee Stock Ownership Plan IRS No. 51-0099493 2. Check the Appropriate Box if a Member of a Group: (a) o (b) o 3. SEC Use Only 4. Citizenship or Place of Organization: Delaware Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power: 0 6. Shared Voting Power: 7,009,312   7. Sole Dispositive Power: 0 8. Shared Dispositive Power: 7,009,312   9. Aggregate Amount Beneficially owned by Each Reporting Person 7,009,312 10. Check if Aggregate Amount in Row (9) Excludes Certain Shares: o 11. Percent of Class Represented by Amount in Row (9): 9.00% 12. Type of Reporting Person: EP CUSIP No. 00790R104 13G/A Page 3 of 5 Item 1. (a) Name of Issuer: Advanced Drainage Systems, Inc. (b) Address of Issuer’s Principal Executive Offices: 4640 Trueman Boulevard Hilliard, OH 43026 Item 2. (a) - (c) Name, Principal Business Address and Citizenship of Person Filing: Delaware Charter Guarantee & Trust Company dba Principal Trust Company as Directed Trustee for the Advanced Drainag