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    Fred J. Smith, III

    President, Chief Executive Officer, and Director at Construction Partners Inc
    Board
    Since N/A
    Age
    55 years
    Education
    Earned a Master of Business Administration and a Bachelor of Arts in History from Wake Forest University.
    Tenure
    Has been serving as President, Chief Executive Officer, and Director at ROAD, with no detailed timeline or career progression information available.

    Also at Construction Partners Inc

    GAH
    Gregory A. Hoffman
    Senior Vice President and Chief Financial Officer
    TKA
    Todd K. Andrews
    Chief Accounting Officer

    About

    Fred J. Smith, III currently serves as the President, Chief Executive Officer, and Director at ROAD, where he has overseen significant financial certifications and the company’s strategic communications, including statements highlighting a record fiscal year with strong revenue, net income, and Adjusted EBITDA growth.

    He earned both a Master of Business Administration and a Bachelor of Arts in History from Wake Forest University, providing him with a balanced educational foundation in business and the liberal arts.

    Although detailed information regarding the exact start of his tenure and career progression is not available, his leadership is underlined by strategic acquisitions like Lone Star Paving in Texas and Sunbelt Asphalt Surfaces in Georgia, which have expanded ROAD’s market footprint and operational capabilities.

    $ROAD Performance Under Fred J. Smith, III

    Past Roles

    Organization Role Date Range Details
    Construction Partners, Inc. (ROAD) Chief Operating Officer October 2020 to March 2021 Held the role immediately prior to his promotion to President, CEO, and Director
    Construction Partners, Inc. (ROAD) Senior Vice President Since 2017 (ended upon promotion) Role concluded when he assumed his current positions
    FSC II, LLC President 2009 to 2020 Served at the North Carolina subsidiary of ROAD
    FSC II, LLC Various Management Roles 2005 to October 2020 Held multiple management roles within the subsidiary
    Fred Smith Construction, Inc. Chief Operating Officer 2005 to 2009 Role prior to his involvement at FSC II, LLC

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$735,000 2024 AnnualFixed base salary for fiscal 2024
    Discretionary Cash Bonus (In-Year)$550,000 During Fiscal 2024Awarded in recognition of leadership and contributions during fiscal 2024
    Discretionary Cash Bonus (Post-Year-End)$65,000 Post Fiscal Year-End 2024Additional bonus post fiscal year-end for performance during 2024
    Annual Cash Incentive$735,000 2024 AnnualBased on achieving 100% of targets for Adjusted EBITDA and individual/additional company goals
    Stock Bonus3,594 shares, $344,665 Grant Date: December 17, 2024Award of Class A common stock recognizing performance
    Transaction Bonus$500,000 Upon Transaction CompletionBonus related to the Lone Star Acquisition
    Market-Based Shares10,000 shares (Class A) & 11,000 shares (Class B) Based on Vesting ConditionsAwarded as market-based shares linked to performance

    Performance Compensation

    Data from  FY 2024

    Annual Cash Incentive

    MetricWeighting (%)TargetActual ResultPayout PercentagePayout Amount
    Adjusted EBITDA50% $209.1 million $220.6 million 100% $367,500
    Individual/Additional Goals50% Achieve 100% target Achieved 100% 100% $367,500
    Total100%N/AN/AN/A$735,000

    Evaluation Period: Fiscal 2024 No vesting schedule applicable for the cash incentive component.

    Stock Awards Performance

    • LTIP-B Awards:

      • Compound Aggregate Revenue Growth Rate: Target 18.0% , Actual 26.1% resulting in a 150% payout .
      • ROCE: Target 13.0% , Actual 11.0% leading to a 0% payout .
      • TSR Adjustment: Earned shares increased by 15% due to a 92nd percentile total shareholder return performance.

    • LTIP-A Awards:

      • Award of 7,352 restricted shares vesting in equal annual installments over four years, with the first vesting on September 30, 2024 .

    • Transaction Bonus Awards (Stock-Based):

      • Awarded 10,000 Class A shares and 11,000 Class B shares .
      • Vesting Conditions: Vest upon the later of (a) the closing of the Lone Star Acquisition, or (b) when the closing price of Class A common stock equals or exceeds $88.00 (on or before the fourth anniversary of the grant date), subject to continued employment.