<SEC-DOCUMENT>0000919574-21-007030.txt : 20211115
<SEC-HEADER>0000919574-21-007030.hdr.sgml : 20211115
<ACCEPTANCE-DATETIME>20211115113154
ACCESSION NUMBER:		0000919574-21-007030
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211111
FILED AS OF DATE:		20211115
DATE AS OF CHANGE:		20211115

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JONES ROSS M
		CENTRAL INDEX KEY:			0001267629
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36557
		FILM NUMBER:		211407691

	MAIL ADDRESS:	
		STREET 1:		ONE BOSTON PLACE
		STREET 2:		33RD FL
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02108

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVANCED DRAINAGE SYSTEMS, INC.
		CENTRAL INDEX KEY:			0001604028
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS FOAM PRODUCTS [3086]
		IRS NUMBER:				510105665
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		4640 TRUEMAN BOULEVARD
		CITY:			HILLIARD
		STATE:			OH
		ZIP:			43026
		BUSINESS PHONE:		614-658-0050

	MAIL ADDRESS:	
		STREET 1:		4640 TRUEMAN BOULEVARD
		CITY:			HILLIARD
		STATE:			OH
		ZIP:			43026
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-11-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001604028</issuerCik>
        <issuerName>ADVANCED DRAINAGE SYSTEMS, INC.</issuerName>
        <issuerTradingSymbol>WMS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001267629</rptOwnerCik>
            <rptOwnerName>JONES ROSS M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>200 CLARENDON STREET, 35TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02116</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-11-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>620082</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>126.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7097035</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-11-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>9958</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>126.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>74109</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Berkshire Investors III LLC</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-11-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>9960</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>126.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>72223</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Berkshire Investors IV LLC</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15865</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents shares held by Berkshire Fund IX, L.P. (&quot;BF IX&quot;), Berkshire Fund IX-A, L.P. (&quot;BF IX-A&quot;), Stockbridge Fund, L.P. (&quot;SF&quot;), Stockbridge Absolute Return Fund, L.P. (&quot;SARF&quot;) and certain other accounts. Ninth Berkshire Associates LLC (&quot;9BA&quot;) is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC (&quot;SA&quot;) is the general partner of SF and SARF. Berkshire Partners LLC (&quot;BP&quot;) is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC (&quot;SP&quot;) is the investment adviser to SF, SARF and such certain other accounts. Berkshire Partners Holdings LLC (&quot;BPH&quot;) is the general partner of BPSP, L.P. (&quot;BPSP&quot;), which is the managing member of BP and SP.</footnote>
        <footnote id="F2">(continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BF IX, BF IX-A, SF, SARF and such other accounts. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F3">Represents shares held by Berkshire Investors III LLC (&quot;BI III&quot;). The Reporting Person is a managing member of BI III. By virtue of the relationship described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BI III. The Reporting Person disclaims beneficial ownership of the shares held by BI III, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.</footnote>
        <footnote id="F4">Represents shares held by Berkshire Investors IV LLC (&quot;BI IV&quot;). The Reporting Person is a managing member of BI IV. By virtue of the relationship described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BI IV. The Reporting Person disclaims beneficial ownership of the shares held by BI IV, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ross M. Jones</signatureName>
        <signatureDate>2021-11-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
