---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-22-000028"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2022-05-24T23:59:59+00:00"
generated_at: "2026-06-25T07:39:54.041617+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# ADS sets FY2023 annual cash incentive plan with Adjusted EBITDA, net sales, and individual goals

## Summary
- FY2023 Annual Cash Incentive Plan approved May 18, 2022; measures: Total Net Sales, Adjusted EBITDA, Individual Goal Achievement.
- For most NEOs, 60% of award on Adjusted EBITDA, 20% on net sales, 20% on individual goals; for Mr. Moore, 70% on Infiltrator Water Technologies EBITDA.
- Payouts range 0%-200% of target via linear interpolation; funding trigger requires minimum Adjusted EBITDA for any payout.
- Awards paid in lump sum within 2.5 months after fiscal year end March 31, 2023.

## SEC filing metadata
- accession: 0001604028-22-000028
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2022-05-24T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604028/000160402822000028/0001604028-22-000028-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402822000028/wms-20220518.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-22-000028
- JSON: https://secwatch.observer/filing/0001604028-22-000028.json
- Plain text: https://secwatch.observer/filing/0001604028-22-000028.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.