X0306 4 2016-09-14 1 0001520697 Acadia Healthcare Company, Inc. ACHC 0001532445 WAUD CAPITAL PARTNERS II, L.L.C. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001532459 WAUD CAPITAL PARTNERS MANAGEMENT II, L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001299241 WAUD CAPITAL PARTNERS II, L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001299294 WAUD CAPITAL PARTNERS QP II, L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001532463 WCP FIF II (ACADIA), L.P. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 0001532464 WAUD CAPITAL AFFILIATES II, L.L.C. 300 N. LASALLE STREET, SUITE 4900 CHICAGO IL 60654 0 0 1 0 Common Stock, par value $0.01 per share 2016-09-14 4 S 0 83861 50.19 D 4617420 I See footnotes Common Stock, par value $0.01 per share 2016-09-15 4 S 0 223640 49.24 D 4393780 I See footnotes Common Stock, par value $0.01 per share 2016-09-16 4 S 0 521033 47.74 D 3872747 I See footnotes Represents shares sold in multiple transactions under Rule 144 as follows: (i) 15,785 shares by Waud Capital Partners II, L.P. ("WCP II"), (ii) 47,664 shares by Waud Capital Partners QP II, L.P. ("Waud QP II"), (iii) 10,084 shares by WCP FIF II (Acadia), L.P. ("WCP FIF II") and (iv) 10,328 shares by Waud Capital Affiliates II, L.L.C. ("Waud Affiliates II"). 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 $50.00 to $50.54, 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 II, L.L.C. ("Waud II LLC") and a member of the Limited Partner Committee of Waud Capital Partners Management II, L.P. ("WCPM II"). Waud II LLC is the general partner of WCPM II. WCPM II is the general partner of WCP II, Waud QP II and WCP FIF II and the manager of Waud Affiliates II. As a result, each of Mr. Waud, Waud II LLC and WCPM II may be deemed to share beneficial ownership of the reported shares. Represents shares sold in multiple transactions under Rule 144 as follows: (i) 42,095 shares by WCP II, (ii) 127,109 shares by Waud QP II, (iii) 26,893 shares by WCP FIF II and (iv) 27,543 shares by Waud Affiliates II. 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 $49.00 to $49.67, 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. Represents shares sold as follows: (i) 98,073 shares by WCP II, (ii) 296,136 shares by Waud QP II, (iii) 62,655 shares by WCP FIF II and (iv) 64,169 shares by Waud Affiliates II. The reported shares are owned of record as follows: (i) 1,141,420 shares by WCP II, (ii) 2,086,697 shares by Waud QP II, (iii) 318,466 shares by WCP FIF II and (iv) 326,164 shares by Waud Affiliates II. 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 II, L.L.C., by /s/ Reeve B. Waud, its manager 2016-09-16 Waud Capital Partners Management II, L.P., by Waud Capital Partners II, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-16 Waud Capital Partners II, L.P., by Waud Capital Partners Management II, L.P., its general partner, by Waud Capital Partners II, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-16 Waud Capital Partners QP II, L.P., by Waud Capital Partners Management II, L.P., its general partner, by Waud Capital Partners II, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-16 WCP FIF II (Acadia), L.P., by Waud Capital Partners Management II, L.P., its general partner, by Waud Capital Partners II, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-16 Waud Capital Affiliates II, L.L.C., by Waud Capital Partners Management II, L.P., its manager, by Waud Capital Partners II, L.L.C., its general partner, by /s/ Reeve B. Waud, its manager 2016-09-16