Subsequent Events |
6 Months Ended |
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Mar. 31, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events Georgia Acquisition
On May 1, 2024, a subsidiary of the Company acquired certain assets of Sunbelt Asphalt Surfaces, Inc. (“Sunbelt”), an asphalt paving company headquartered in Auburn, Georgia, for $28.6 million. The transaction added an HMA plant and a greenfield plant site in northeastern Georgia.
Issuance of Equity Awards
In connection with the Sunbelt acquisition, the Company issued awards under the Equity Incentive Plan to certain key former employees of Sunbelt who became employees of the acquiring Company subsidiary consisting of (i) 30,000 shares of restricted Class A common stock having an aggregate grant date fair value of $1.5 million and (ii) performance stock awards representing a target of 30,000 shares of Class A common stock having an aggregate grant date fair value of $1.5 million.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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