X0306 4 2016-09-12 0 0001520697 Acadia Healthcare Company, Inc. ACHC 0001532461 WAUD CAPITAL PARTNERS III, L.L.C. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001532462 WAUD CAPITAL PARTNERS MANAGEMENT III, L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001487016 WAUD CAPITAL PARTNERS III, L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001487019 WAUD CAPITAL PARTNERS QP III, L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001532465 WCP FIF III (ACADIA), L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001532468 WAUD CAPITAL AFFILIATES III, L.L.C. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 Common Stock, par value $0.01 per share 2016-09-12 4 S 0 26679 51.77 D 2301983 I See footnotes Common Stock, par value $0.01 per share 2016-09-13 4 S 0 3275 51.23 D 2298708 I See footnotes Represents shares sold in market transactions under Rule 144 as follows: (i) 665 shares by Waud Capital Partners III, L.P. ("WCP III"), (ii) 14,664 shares by Waud Capital Partners QP III, L.P. ("Waud QP III"), (iii) 8,296 shares by WCP FIF III (Acadia), L.P. ("WCP FIF III") and (iv) 3,054 shares by Waud Capital Affiliates III, L.L.C. ("Waud Affiliates III"). The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions under Rule 144 at prices ranging from $51.58 to $52.01, inclusive. The reporting persons undertake to provide to Acadia Healthcare Company, Inc., any security holder of Acadia Healthcare Company, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in Footnote (1) to this Form 4. Reeve B. Waud is a member of the board of directors of Acadia Healthcare Company, Inc. Mr. Waud is also the manager of Waud Capital Partners III, L.L.C. ("Waud III LLC") and a member of the Limited Partner Committee of Waud Capital Partners Management III, L.P. ("WCPM III"). Waud III LLC is the general partner of WCPM III. WCPM III is the general partner of WCP III, Waud QP III and WCP FIF III and the manager of Waud Affiliates III. As a result, each of Mr. Waud, Waud III LLC and WCPM III may be deemed to share beneficial ownership of the reported shares. Represents shares sold in market transactions under Rule 144 as follows: (i) 82 shares by WCP III, (ii) 1,800 shares by Waud QP III, (iii) 1,019 shares by WCP FIF III and (iv) 374 shares by Waud Affiliates III. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions under Rule 144 at prices ranging from $51.15 to $51.85, inclusive. The reporting persons undertake to provide to Acadia Healthcare Company, Inc., any security holder of Acadia Healthcare Company, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in Footnote (4) to this Form 4. The reported shares are owned of record as follows: (i) 194,606 shares by WCP III, (ii) 1,287,433 shares by Waud QP III, (iii) 596,913 shares by WCP FIF III and (iv) 219,756 shares by Waud Affiliates III. Each of the reporting persons expressly disclaims beneficial ownership of the reported shares except to the extent of its pecuniary interest therein. Waud Capital Partners III, L.L.C., by /s/ Reeve B. Waud, its manager 2016-09-14 Waud Capital Partners Management III, L.P., by Waud Capital Partners III, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-14 Waud Capital Partners III, L.P., by Waud Capital Partners Management III, L.P., its general partner, by Waud Capital Partners III, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-14 Waud Capital Partners QP III, L.P., by Waud Capital Partners Management III, L.P., its general partner, by Waud Capital Partners III, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-14 WCP FIF III (Acadia), L.P., by Waud Capital Partners Management III, L.P., its general partner, by Waud Capital Partners III, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-14 Waud Capital Affiliates III, L.L.C., by Waud Capital Partners Management III, L.P., its manager, by Waud Capital Partners III, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-14