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Subsequent Events
12 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Acquisition of Certain Assets from Affiliates of Vulcan Materials Company
On October 6, 2025, the Company acquired certain asphalt manufacturing and construction assets from affiliates of Vulcan Materials Company in the Houston, Texas metro area for $108.6 million, which was paid from available cash on hand and a draw from the Revolving Credit Facility. The transaction added eight hot-mix asphalt plants and related crews and equipment, expanding the Company’s operations in eastern Texas.
Acquisition of P&S Paving, LLC
On October 20, 2025, the Company acquired all of the equity interests of P&S Paving, LLC (“P&S), an asphalt manufacturing and construction business headquartered in Daytona Beach, Florida, for (i) $98.5 million of cash, which was paid from available cash on hand and a draw from the Revolving Credit Facility, and (ii) $55.0 million in shares of Class A common stock. The transaction expanded the Company's operations in Florida, adding two HMA plants and related crews and equipment serving northeast and central Florida. As of the date of this report, the total amount of consideration for this transaction remains subject to post-closing adjustments with respect to working capital and other matters.
In connection with the acquisition, the Company issued an award under the Equity Incentive Plan to a key employee of P&S consisting of 11,924 shares of restricted Class A common stock having a grant date fair value of approximately $1.4 million and vesting as to one-half of the shares on each of September 30, 2029 and 2030. Separately, the Company paid transaction bonuses to certain officers, directors, and employees of the Company in the form of awards under the Equity Incentive Plan and Restricted Stock Plan consisting of an aggregate of 33,987 shares of Class A common stock and 47,798 shares of Class B common stock having an aggregate date fair value of approximately $9.6 million. The restricted shares of Class A common stock and Class B common stock vested in full on the date of grant, which was October 17, 2025.
Treasury Stock
In October and November 2024, the Company received a total of 166,258 shares of Class A common stock and 6,845 shares of Class B common stock from employees upon forfeitures of restricted stock awards and for reimbursement of income taxes paid by the Company on behalf of these employees related to restricted stock awards that vested on or subsequent to September 30, 2025.
Restricted Stock Awards
In November 2025, the Company awarded a total of 96,792 restricted shares of Class A common stock to certain officers and employees of the Company under the Equity Incentive Plan. The grants are classified as equity awards and are subject to a four-year graded vesting schedule. The aggregate grant date fair value of these restricted awards was $10.8 million.

Performance Stock Units

In November 2025, the Company awarded to certain officers and employees of the Company PSUs under the Equity Incentive Plan representing an aggregate target of 55,732 shares of Class A common stock . The grants are classified as equity awards. The aggregate grant date fair value of these restricted awards was $6.2 million. The PSUs provide for the issuance of shares of Class A common stock or the cash equivalent value of such shares (as determined by the Compensation Committee of the Company’s Board of Directors) upon vesting, which occurs following the completion of a three-year performance period based on extent of achievement of compound aggregate revenue growth rate and average Adjusted EBITDA margin over the performance period. The final number of shares of Class A common stock issuable upon vesting of PSUs can range from 0% to 150% of the number of PSUs initially granted, depending on the level of achievement, as determined by the Compensation Committee of the Company’s Board of Directors. The achievement of performance goals is modified by the total shareholder return ranking of the Company against the Russell 2000 Index over the performance period and can increase or decrease the achieved award by up to 15%.