---
schema_version: "secwatch.filing_event.v1"
accession: "0001604028-23-000017"
form_type: "8-K"
ticker: "WMS"
cik: "0001604028"
company_name: "ADVANCED DRAINAGE SYSTEMS, INC."
filed_at: "2023-05-23T23:59:59+00:00"
generated_at: "2026-06-14T17:19:27.536141+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "medium"
source: SEC EDGAR
---

# CEO compensation plan approved for FY2024 with 80% EBITDA, 20% sales weighting

## Summary
- Compensation Committee approved FY2024 Annual Cash Incentive Plan on May 17, 2023.
- 80% of incentive award based on Adjusted EBITDA; 20% on Total Net Sales.
- Funding trigger requires minimum Adjusted EBITDA before any sales-based payout.
- Payouts range from 0% to 200% of target depending on performance.
- Awards paid in lump sum after March 31, 2024 fiscal year-end.

## SEC filing metadata
- accession: 0001604028-23-000017
- form_type: 8-K
- ticker: WMS
- cik: 0001604028
- company_name: ADVANCED DRAINAGE SYSTEMS, INC.
- filed_at: 2023-05-23T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: medium
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000017/0001604028-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604028/000160402823000017/wms-20230517.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001604028-23-000017
- JSON: https://secwatch.observer/filing/0001604028-23-000017.json
- Plain text: https://secwatch.observer/filing/0001604028-23-000017.txt

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